FSRA Financial Planner/Financial Advisor (FP/FA) Stakeholder Advisory Committee meeting with FSRA Board of Directors
Summary of the May 7, 2025 meeting (in person and virtually via Teams)
SAC members present:
Kenneth Doll – Independent Financial Brokers of Canada
Mauro Lagana – Canadian Bankers Association
Adrian Lake – Canadian Securities Institute
Craig MacLennan – FP Canada
Amin Mawani – Schulich School of Business – York University
Elsa Renzella – Canadian Investment Regulatory Organization
Sarah Smith – We Know Training
Justin Warren – Canadian Institute of Financial Planning
FSRA Board members present:
Joanne De Laurentiis – Chair of the Board
Steve Geist
Joseph Iannicelli
Peggy McCallum
Ali Salahuddin
Lucie Tedesco
Doug Turnbull
Rob Wellstood
FSRA Management members present:
Andrea Foy, Senior Manager, Licensing and Title Protection Policy
David Ha, Senior Manager, Regulatory and Credentialing Oversight
Meghan Kilty, Chief Public Affairs Officer
Antoinette Leung, Head, Financial Institutions and Mortgage Brokerage Conduct
Huston Loke – Executive Vice Present, Market Conduct
Glen Padassery, Executive Vice President, Policy
Dan Padro, Head, Policy - Core Regulatory
Rhonda Mauricette Pollard, Chief Human Resources Officer
Jordan Solway, Executive Vice President, Legal and Enforcement
Kirk Quinn, Director, Financial Institutions Conduct
Corporate secretary’s office:
Danelle Brown – Corporate Secretary / Deputy General Counsel
General comments:
The Chair of the Board welcomed the Committee and provided introductory remarks about the importance of these discussions to help sharpen FSRA’s work / advice. The EVP, Market Conduct also welcomed the Committee and thanked members for advancing investor protection.
The Committee discussed important themes in the sector such as harmonization, transparency of and enhancing standards, and the evaluation of the title protection framework.
The Committee supported harmonization across jurisdictions on the implementation of title protection frameworks. They also supported FSRA taking steps to ensure that any harmonization efforts are done in perpetuity, in order to ensure that down the road jurisdictions do not go in different directions.
The Committee discussed the need for transparency of the minimum standards for credentialing bodies and credentials, and suggested that FSRA provide more information on how those standards are interpreted and applied.
The Committee also discussed how the standards for the framework should focus on how competency is measured (e.g., how the knowledge from the credential translates into skill to provide planning and advisory services).
The Committee also supported that any outcomes / enhancements coming out of the framework evaluation should be publicly communicated and evidence-based.
The Chair thanked the Committee for their input.