FSRA consults on proposed fees to protect financial planner and advisor titles in Ontario
The Financial Services Regulatory Authority of Ontario (FSRA) is continuing its work to protect the titles of financial planners and advisors in Ontario. FSRA is committed to transparency and engaging with stakeholders to ensure efficient and effective regulation.
FSRA is now consulting on proposed changes to the FSRA Fee Rule to establish a fee structure for the financial professionals sector. The proposed changes take into consideration the feedback received during the second consultation on the proposed Financial Professionals Title Protection (FPTP) Rule, which summarized FSRA’s approach to the proposed fee structure.
The fees would enable FSRA to recover the initial costs to design and implement the title protection framework, as well as the ongoing regulatory costs to oversee the sector. These include costs related to supervising and monitoring credentialing bodies, handling complaints, and other activities to support the framework. The proposed fee structure for the financial professionals sector is intended to be fair, consistent and simple, so that each credentialing body pays its fair share of the costs.
To review the proposed changes and submit your feedback, please visit the consultation page. The consultation period is now open and will close on October 20, 2021.
- Proposed Fee Structure for the Financial Professionals Sector Consultation
- Proposed Amendments to the FSRA Fee Rule PDF
Vicki Lam, Senior Advisor, Public Affairs
Financial Services Regulatory Authority of Ontario