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ARTICLE · 29 APRIL 2015

Regulations Relating To Financial Advisors And Planners To Be Reviewed

Affleck Greene McMurtry LLP
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The Ontario Ministry of Finance, further to its announcement in the 2014 Economic Outlook and Fiscal Review, is launching a review of regulations pertaining to financial advisors and planners.

CanadaFinance and Banking
Kyle Peterson
Kyle Peterson
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The Ontario Ministry of Finance, further to its announcement in the 2014 Economic Outlook and Fiscal Review, is launching a review of regulations pertaining to financial advisors and planners. The Ontario government wants to help investors and consumers to make informed investment and financial choices and enhance the oversight in this important sector. The financial sector is second only to the manufacturing sector in Ontario in terms of output.

Currently, anyone in the province can call themselves a financial planner. While more than 9,000 have voluntarily been certified as planners, there is no requirement to do so. Many industry groups, including Advocis and the Financial Planning Coalition, have called for the mandatory regulation of financial advisors and planners. They seek increased professional standards for all financial advice professionals and greater consumer protection.

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