IIAC COMMENTS ON FSRA PROPOSED FINANCIAL PROFESSIONALS TITLE PROTECTION RULE
The IIAC submitted comments to the Financial Services Regulatory Authority of Ontario (FSRA) on its proposed rule and guidance surrounding minimum standards for the use of the “financial planner” and “financial advisor” titles. The IIAC raised issues including which other titles may be reasonably confused with the foregoing titles, queried some of the items listed in the competency profiles, and indicated the need for an exemption for registrants currently subject to the oversight of a self-regulatory organization (SRO).
Our submission was also sent to the Financial and Consumer Affairs Authority of Saskatchewan (FCAA), as requested by the regulator, as input to develop regulations to support The Financial Planners and Financial Advisors Act (Saskatchewan).
If you have any questions, please contact Michelle Alexander at malexander@iiac.ca.