CPH® 2025

In this section

• Chapter 1: Standards of Conduct and Ethics
  • Standards of Conduct and Ethics
    Discover the cornerstone principles and guidelines that ensure integrity, fairness, and professionalism in the Canadian securities industry through practical insights, illustrative examples, and real-world scenarios.
  • Integrating Ethics with Industry Rules
    Discover how to align personal and organizational ethical values with Canadian regulatory requirements. Explore the synergy between moral conduct and compliance in the finance industry, and learn practical strategies for building and sustaining an ethical culture based on CIRO guidelines.
  • Rules of Thumb to Guide the Conduct of Registered Representatives
    Essential guidelines and practical strategies to help Registered Representatives navigate ethical responsibilities, prioritize client interests, and maintain professional standards in the Canadian financial industry.
• Chapter 2: Ethical Decision Making
  • Overview of Ethics
    Explore the core principles, relevance, and practical applications of ethical conduct in finance, from foundational definitions to real-world dilemmas.
  • The Relationships Between Values, Ethics, and the Law
    Discover how core values inform ethical standards and shape legal frameworks in Canadian financial services, illustrating why ethics goes beyond mere compliance.
  • Value Awareness - Empowering Ethical Decision-Making in Finance
    Explore how recognizing personal and professional values enhances ethical decision-making, fosters trust, and shapes a positive organizational culture in the Canadian securities industry.
  • Ethical Dilemmas in Finance
    Explore the complexities of ethical dilemmas in financial services, learning how to identify, assess, and resolve challenging situations that require balancing competing values, principles, and interests.
• Chapter 3: The Canadian Regulatory Framework
  • General Principles of Securities Regulation in Canada
    Explore the fundamental principles behind securities regulation in Canada and learn how these frameworks protect investors, uphold market integrity, and foster transparency in the financial system.
  • Key Government Players Involved in Securities Regulation
    Explore Canada's securities regulatory structure, featuring provincial commissions, the CSA, CIRO, OSFI, the Bank of Canada, the Department of Finance, and FINTRAC.
  • Self-Regulatory Organization (CIRO) and Its Role in the Canadian Regulatory Framework
    Explore how the Canadian Investment Regulatory Organization (CIRO) upholds investor confidence, enforces securities rules and regulations, and ensures market integrity across Canada.
  • Investor Protection Funds
    Discover how Canadian investor protection funds, including the Canadian Investor Protection Fund (CIPF), defend investors against member firm insolvencies. Learn about coverage limits, eligibility, and best practices in this comprehensive guide.
  • Money Laundering and Terrorist Financing in the Securities Industry
    Learn how Canadian securities firms combat money laundering and terrorist financing through robust compliance programs, client due diligence, and ongoing monitoring.
• Chapter 4: Working with Clients
  • Registration Requirements of a Registered Representative
    Learn the fundamentals and practical steps required to become and remain a Registered Representative in Canada, covering proficiency, continuous education, and compliance to ensure ethical and professional client service.
  • Communication with the Public
    Explore how Registered Representatives can confidently navigate communication with the public using clear, balanced, and compliant messages, while maintaining trust through social media, advertising, and ethical disclosures.
  • General Regulations and Guidelines for Sales Literature
    Explore essential guidelines and best practices for creating, reviewing, and distributing compliant sales literature under CIRO Rule 3600. Learn how to avoid misleading claims, disclose conflicts of interest, and maintain transparency in your marketing materials.
  • Dealing with Clients
    Discover essential strategies, best practices, and regulatory obligations for Registered Representatives when interacting with clients, emphasizing honesty, fairness, and client-first principles.
  • Privacy and Cybersecurity Safeguards for Client Confidentiality
    Explore essential privacy and cybersecurity requirements, best practices, and real-world strategies for protecting client data in the Canadian securities industry.
• Chapter 5: Client Discovery and Account Opening
  • Opening Accounts
    Opening client accounts in the Canadian securities industry requires strict adherence to CIRO rules, AML and ATF compliance, and clear client communication. Learn how to navigate account types, disclosures, and documentation for a solid client-advisor relationship.
  • The New Account Application Form (NAAF)
    Learn how the New Account Application Form (NAAF) establishes the foundation for a successful client-advisor relationship, including essential client information, regulatory obligations, and ongoing suitability assessments.
  • Completing the New Account Application Form
    A comprehensive guide on how to fill out the New Account Application Form (NAAF) within the Canadian securities industry, from validating client identity to aligning investment objectives.
  • Disclosures: Key to Investor Trust and Regulatory Compliance
    Dive into the importance of clear, accurate, and timely disclosures in the Canadian securities industry, exploring conflicts of interest, fee transparency, and CSA Client Focused Reforms to ensure client protection and regulatory compliance.
  • Client Records
    Learn how to maintain, update, and protect client records in compliance with Canadian securities regulations and CIRO requirements, ensuring data security and client-centric service.
• Chapter 6: Product Due Diligence, Recommendations, and Advice
  • Suitability of Investments and Investment Strategies
    Learn how to align investment recommendations with clients’ goals, risk tolerance, and personal circumstances for compliant, ethical advising.
  • Product Due Diligence
    Explore essential steps, best practices, and real-world stories for conducting robust product due diligence in the Canadian securities industry. Boost your understanding of issuer analysis, product structures, risk assessments, performance evaluation, and ongoing compliance to confidently recommend suitable investments.
  • New Issues and Prospectus Exemptions
    Discover how new securities issues come to market in Canada, the importance of prospectus requirements, and how various exemptions can facilitate capital raising while balancing investor protection.
  • Take-over Bids and Issuer Bids
    Explore the fundamentals, regulations, and practical considerations of Canadian take-over bids and issuer bids, including their procedural requirements, investor protections, and critical disclosure guidelines.
• Chapter 7: Trading, Settlement, and Prohibited Activities
  • How Securities Are Traded
    Explore the intricacies of how stocks, bonds, and other securities are bought and sold in Canadian markets, covering everything from market mechanics to participant roles and regulatory oversight by CIRO.
  • Types of Orders: Market, Limit, Stop, and More
    Explore the fundamentals of order types in the Canadian securities industry, including market orders, limit orders, stop orders, and specialized instructions for optimizing your trades.
  • Sales and Trading Conduct
    Explore essential sales and trading conduct principles under CIRO oversight, focusing on honest dealings, fair disclosures, suitability assessments, and robust record-keeping practices to maintain market integrity and protect investors.
  • Prohibited Activities: Protecting Market Integrity and Investor Confidence
    Explore insider trading, market manipulation, front running, churning, unauthorized trading, and how to remain compliant under CIRO regulations.
  • Settlements, Transfers, and Corrections in Canadian Securities
    Explore T+2 settlement cycles, account transfers, and trade corrections. Learn critical steps, potential risks, and best practices to ensure seamless post-trade operations in Canada.
• Chapter 8: Maintaining Client Accounts and Relationships
  • Accounting for Client Transactions
    Explore how accurate, transparent, and compliant approaches to Client Transaction Accounting empower investment dealers to maintain trust, meet regulatory standards, and protect client assets in the Canadian securities industry.
  • Margin Accounts
    Discover how margin accounts enable investors to borrow funds for securities purchases, the associated risks and requirements, and best practices for compliance under CIRO guidelines.
  • Cash Accounts: T+2 Settlement, Client Obligations, and Best Practices
    A comprehensive exploration of cash accounts, focusing on how to manage, settle trades, and comply with CIRO regulations regarding payment timelines, short selling restrictions, and client responsibilities.
  • Communicating Trading Information to Customers
    Explore key strategies for delivering clear, accurate, and timely trading information—such as trade confirmations, account statements, and fee disclosures—aligned with CIRO regulations in Canada.
  • Client Complaints and Account Transfer Requests
    Learn how to effectively manage client complaints and facilitate account transfers under CIRO guidelines, ensuring transparent communication, efficient resolutions, and robust client relationships.
• Chapter 9: Putting it All Together
  • Review of Good Conduct and Practices
    A comprehensive review of ethical standards, regulatory compliance, and professional conduct principles that guide financial professionals in building trusted client relationships and mitigating risks.
  • Case Study: The Chengs' Accounts
    Explore how to apply core regulatory and ethical principles to a real-life client scenario, focusing on the Cheng family’s financial goals, risk tolerance, product due diligence, client communications, and ongoing account management.