Strengthening consumer and investor protection in Ontario
FSRA releases its first Financial Planners and Financial Advisors Supervision Plan
To further protect consumers, the Financial Services Regulatory Authority of Ontario (FSRA) is releasing its first Financial Planners and Financial Advisors Supervision Plan.
The plan sets out four key areas of supervision for 2023/24 for approved credentialing bodies to help deter non-compliance and promote proper marketplace conduct.
Through supervision and examination FSRA will ensure the effective implementation of title protection in Ontario, higher industry standards and consistency among credentialing bodies.
The four key areas of supervision include how credentialing bodies are effectively:
- ensuring their credential holders are putting their client’s interests first
- administering and maintaining their credentialing program
- ensuring their complaint-handling processes are fair, easily accessible and efficient
- making disciplinary processes transparent, consistent, and reasonable
As part of its regulatory activities, FSRA oversees approved credentialing bodies and monitors their compliance under the Financial Professionals Title Protection Framework.
- 2023-24 Financial Planners and Financial Advisors Supervision Plan
- Financial Professionals Title Protection – Supervisory Framework Guidance
- List of approved credentialing bodies and credentials
FSRA continues to work on behalf of all stakeholders, including consumers, to ensure financial safety, fairness, and choice for everyone.
Learn more at www.fsrao.ca.