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ARTICLE · 26 SEPTEMBER 2023

Summer Supervision: FSRA's Plan For Credentialing Bodies

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In 2019, the Ontario government introduced the Financial Professionals Title Protection Act (FPTPA) which established minimum standards for the use of Financial Planner (FP)...

CanadaFinance and Banking
AUM Law
AUM Law
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In 2019, the Ontario government introduced the Financial Professionals Title Protection Act (FPTPA) which established minimum standards for the use of Financial Planner (FP) and Financial Advisor (FA) titles in the province. The legislation came into force in March of 2022, with transition periods set to expire in March 2024 for FA title users and March 2026 for those using the FP title.

The Financial Services Regulatory Authority of Ontario (FSRA) has enforcement authority under the FPTPA, which extends to approved credentialing bodies, individuals who use the FP/FA title without a credential (and who are not covered by the transition periods), and any person or organization holding themselves out as an approved credentialing body or purporting to grant an FP/FA credential without FSRA's approval. As part of ensuring compliance with the FPTPA and associated guidance/terms and conditions, FSRA recently released its '2023-2024 Financial Planners and Financial

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