Policy-makers called on to do more than they’re proposing
A new consultation paper invites comments on proposals that would restrict the use of the title “financial planner” to those with the necessary proficiency or licensing requirements
The province will “consult extensively with stakeholders” on effort to restrict the use of financial planning titles and impose proficiency requirements on financial planners
Financial planners need to continue to lobby for their regulation as a profession in law
IIROC, Advocis and others support enforcement measures in Ontario budget
Government plans to study universal “best interest” duty
The introduction of restrictions to using the financial planner title as well a new statutory best interest standard will provide much needed clarity for clients
Ontario’s government intends to work with the province’s financial regulators on many of the Expert Committee’s recommendations
The report makes several recommendations dealing with titles and credentials that are likely to have a significant impact on many in the investment industry
Financial planners and advisors need to take note of this new proposed rule when deciding on what financial planning designation to earn