On Oct. 10, the Ontario minister of finance approved a memorandum of understanding (MOU) between Financial Planning Standards Council (FPSC) and the Ontario Securities Commission (OSC) aimed at strengthening consumer protection.

Under the MOU, the two organizations will co-operate in numerous areas, including:

> notifying each other about matters that are materially relevant to their respective mandates;

> sharing information regarding registration/certification, compliance and enforcement activities, where appropriate and in the public interest;

> exchanging information related to regulatory and investigatory approaches and best practices that are of mutual interest; and

> undertaking joint education or advocacy activities relating to financial planning or securities issues.

“The co-operative sharing of information between our two organizations is an important step forward,” says Cary List, FPSC president and CEO, in a statement. “We look forward to working collaboratively with the OSC to provide more effective and efficient oversight to best serve the public interest.”