Reference

CIRO and CIRE Glossary

Plain-English definitions of every term that shows up on the CIRE exam and in CIRO/IDPC rulebook references. Every entry cites the actual rule, instrument, or notice it traces back to. Tap any term for the full definition and a one-click AI case study showing how it applies in practice.

Regulatory

CIPFCanadian Investor Protection Fund. Insures clients against dealer insolvency.
CIRECanadian Investment Regulatory Examination, the entry-level CIRO exam.
CIROThe Canadian Investment Regulatory Organization, formed January 1, 2023.
CSA (Canadian Securities Administrators)Umbrella organisation of Canada's 13 provincial/territorial securities regulators.
NI 31-103National Instrument on Registration Requirements, Exemptions and Ongoing Registrant Obligations.

KYC and Suitability

Account AppropriatenessThe pre-suitability check on whether the client should open the account at all.
Know Your Client (KYC)The mandatory client-information collection rule under CIRO IDPC Rule 3402.
Know Your Product (KYP)The firm-and-individual obligation to understand every product the dealer offers.
Suitability DeterminationThe account-level obligation to recommend only suitable investment actions.
Trusted Contact Person (TCP)A non-trading contact a client designates so the dealer can address concerns about exploitation or capacity.

Compliance

Client Focused Reforms (CFR)The 2021 CSA reforms that rewrote suitability, KYC, and conflicts of interest.
PCMLTFAProceeds of Crime (Money Laundering) and Terrorist Financing Act.

Markets and Trading

Best ExecutionThe obligation to take reasonable efforts to achieve the most advantageous execution for clients.
UMIRUniversal Market Integrity Rules governing trading on Canadian marketplaces.

Tax and Accounts

RRSP (Registered Retirement Savings Plan)Tax-deferred registered retirement account.
TFSA (Tax-Free Savings Account)Canadian registered account where investment growth and withdrawals are tax-free.