FSRA ready to finalize consumer protection rule
The latest iteration of the proposed rules, which the regulator said, “will significantly enhance consumer protection while reducing regulatory burden and costs when implementing Ontario’s Financial Professional Title Protection Act, 2019, following several rounds of consultations with industry and other stakeholders.” comes after.
During those consultations, several commentators urged the FSRA to exempt FPs and FAs employed in firms already registered with self-regulatory organizations, specifically planners with financial planning credentials issued by an accredited credentialing body. . The FSRA has said that it is currently in discussion with organizations that have expressed interest in applying as a CB.
The FSRA said the rules will take effect upon ministerial approval, and when the relevant legislation is announced. The 60-day deadline for the government to approve the rules will end on March 15.