CIRO determines cost for its new proficiency exams

The Canadian Investment Regulatory Organization (CIRO) says it will charge $475 for each of the nine exams it plans to roll out next year as part of its new proficiency framework.

In a release Monday, the regulator said the price tag will make good on its promise to make it cheaper to get licensed in Canada’s investment industry.

“One of the key objectives of the new proficiency model is to lower the cost of licensing,” CIRO said. “Consistent with this objective, CIRO has set its examination fee at $475 per exam based on a cost recovery model. This fee will be the same for all exam types.”

CIRO noted that the exam fee will not apply to the conduct training requirement that’s part of its new proficiency framework. That training will be offered free of charge.

The self-regulatory organization is doing away with mandatory courses as prerequisites to exams and shifting to an assessment-centric approach starting Jan. 1, 2026.

As part of the overhaul, aspiring registrants will have to take certain exams and conduct training to get licensed to work at investment dealers in Canada. The exams and training will be offered in both English and French. So far, one exam has been finalized, while the other eight exams and the conduct training are still under development.

“We will have further information on our exam delivery model, including the exam enrollment portal, in the coming months in advance of January 1, 2026,” CIRO said, noting it will also provide more information relating to each of the nine new exams online at ciro.ca/registered-individuals/proficiency/exam-hub.

Noushin Ziafati

Noushin has been the associate editor of Advisor.ca since 2024. Previously, she worked at outlets including the CBC, Canadian Press, CTV News, Telegraph-Journal and Chronicle Herald. Reach her at noushin@newcom.ca.