Trainees

The probationary certificate is an official document issued by the AMF. It includes the information necessary to identify the candidate and information related to the validity of the probationary certificate. A probationary certificate confers on the applicant the title of trainee for the duration of the probationary period. To be eligible for a probationary certificate, a candidate must, in particular:

• have passed each of the examinations prescribed by the AMF, and such examinations must be valid at the time the probationary period is undertaken;
• hold the necessary authorizations issued by the competent authority, where applicable, for employment in Québec;
• not be in any of the situations set out in sections 219 and 220 of An Act respecting the distribution of financial products and services.

To obtain a probationary certificate, a candidate must submit a duly completed Application for Probationary Certificate to the AMF. The supervisor selected by the candidate must complete the designated section of the form.

The AMF requires 10 business days, plus mail time, to process a duly completed application, make the necessary verifications and issue the probationary certificate. When applying for a probationary certificate, candidates should allow for this processing period when choosing the date on which they wish to begin the probationary period. Incomplete applications may delay processing.

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During the probationary period, a trainee must, in particular:

• present himself publicly as a trainee;

• comply with all laws, by-laws, regulations and codes of ethics governing the profession of representative;

• notify the AMF of any change to the information or a document that he has furnished within five days of such change, where such change occurs during the probationary period;

• upon first meeting a client, give the client a document, such as a business card, which indicates the information prescribed by Regulation No. 1, or, where the trainee deals with the client other than in person, he must provide him with this information, at his request, when initially sending other documents;

• not be in any of the situations referred to in section 56 of Regulation respecting the issuance and renewal of representatives' certificates.

Throughout the probationary certificate validity period, the trainee will be listed in the AMF's public register. This register confirms to consumers that the trainee is authorized to pursue activities as a trainee. If the validity period of the probationary certificate is extended or shortened, the information in the public register will be updated automatically.

The holder of a probationary certificate may, with supervision, perform professional acts, which vary according to the sector or sector class in which he wishes to be certified as a representative.

• In the insurance of persons or group insurance of persons sectors:
  
  The trainee may gather information, conduct needs analyses and propose to his supervisor the products or services that may be appropriate to the client’s needs and, if they are approved by the supervisor, propose and sell them to the client;

• In the personal-lines damage insurance sector:
  
  The trainee may gather information, and propose and sell to the client the products, coverages or guarantees adapted to his needs;

• In the commercial-lines damage insurance sector:
  
  The trainee may gather information and propose to his supervisor the products, coverages or guarantees that may be adapted to the client’s needs and, if they are approved by the supervisor, propose and sell them to the client;

• In the claims adjustment sector:
  
  The trainee may gather information and propose to his supervisor the components of a claims investigation, the assessment of damage or the negotiation of a settlement and, if they are approved by the supervisor, assist his supervisor in presenting them to the client.

Trainees may take vacation provided that they notify the AMF at the time of applying for a probationary certificate. The 12-week probationary period may not last more than 14 weeks. Trainees may take up to 2 weeks of vacation during this period. The 6-week probationary period may not last more than 7 weeks. This allows trainees to take one week of vacation.

Representatives’ activities are regulated by the AMF. No person may act as or purport to be a representative without holding the appropriate certificate issued by the AMF. The AMF may issue a probationary certificate to a trainee whose professional activities are overseen by a supervisor authorized by the AMF. Individuals who perform professional activities reserved for a representative without holding a valid probationary certificate or representative’s certificate will be charged with illegal practice by the AMF. If found guilty, the individual's eligibility for a representative's certificate could be compromised.

During the probationary certificate validity period, the trainee's activities are covered by the professional liability insurance of the firm or supervisor, as well as by the Fonds d’indemnisation des services financiers. A probationary certificate issued by the AMF protects consumers by allowing them to be compensated in the event they incur damages as a result of errors, omissions, fraud or embezzlement committed by a trainee.

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