In January, the RCCAQ voiced its opposition to the proposed modifications to CHAD's continuing education regulations. Under these modifications, you would have paid up to 40% more for your professional development units (PDUs) in the area of compliance. These representations were successful: although the new regulations were adopted, major changes were made to the proposed modifications as a result of those efforts.

The proposed modifications included two points that the RCCAQ regarded as restrictive in light of the current framework for training and regulatory compliance.

1. Under the first modification, all CHAD member representatives would have been required to complete one CHAD-administered online course (worth 2 PDUs) on compliance in each reference period. On March 18, 2015, the Quebec Finance Ministry adopted this measure after approving an amendment submitted by various associations of certified industry representatives stating that the course could be administered by CHAD or by other industry stakeholders in partnership with CHAD. In other words, CHAD will develop the course, but will not be the only one to administer it. It should also be noted that the provision requiring the representatives to take the training online will not be legally binding.

2. Under the second modification, a mandatory one-PDU compliance course would have been required for all new CHAD members issued a first-time certificate by the AMF. This course would have been developed exclusively by CHAD and administered by CHAD online. This modification was rejected.

The RCCAQ welcome the action taken by the Finance Ministry, whose decision demonstrates that the industry's concerns were taken into consideration.

If you have any questions, please email us (communications@rccaq.com).