The Financial Services Regulatory Authority of Ontario (FSRA) is prioritizing its resources on approving and assisting credentialing bodies (CBs) as it continues to implement the province’s financial professional title protection framework.
“Given our active discussions with approved credentialing bodies (CBs) about public transparency, and our discussions with other potential credentialing bodies, this focus on approval and implementation will continue until June 30, 2023,” the provincial regulator said in an update.
In the meantime, FSRA said its enforcement efforts with regards to non-compliant title users – individuals holding themselves out as financial advisors (FAs) or financial planners (FPs) without having a recognized designation from an approved CB – will focus on responding to consumer complaints.
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