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Ontario’s financial services regulator, FSRA, is releasing its second Financial
Planners and Financial Advisors Supervision Publication, which shares the progress of initiatives from the 2024-2025 Supervision Plan.
It is intended to achieve the following outcomes:
- Assess how well approved credentialing bodies are adapting as regulated entities under the Financial Professionals Title Protection Framework;
- Ensure the effectiveness of credential holder oversight processes at the credentialing bodies to better protect consumers;
- Ensure credentialing bodies have processes in place to refer uncredentialed title usage to FSRA for review; and
- Promote education and awareness about the framework in the Life and Health Insurance Sector.
As part of its 2024-2025 supervision priorities, FSRA conducted thematic reviews of Ontario’s five approved credentialing bodies that oversee people who
hold a financial planner or financial advisor credential. FSRA made several
recommendations to address areas of improvement identified and will monitor to
ensure its recommendations are implemented.
The publication also highlights results from FSRA’s efforts to educate the Life and Health Insurance Sector about the Financial Professionals Title Protection Framework to ensure title users are appropriately credentialed and subject to oversight by the credentialing bodies.
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