FSRA Approves Third Credentialing Body to Grant and Oversee Use of Financial Planner Designation in Ontario


The Canadian Securities Institute will help strengthen investor and consumer protection

TORONTO, May 4, 2022 /CNW/ – The Canadian Securities Institute (CSI)a Moody’s Analytics company, has been approved by the Financial Services Regulatory Authority of Ontario (FSRA) as an accreditation body under the Financial Professionals Title Protection Framework. ITUC Personal Financial Planner (PFP®) title is now an approved title for Financial planner use of title in Ontario.

“This is another important step towards strengthening consumer and investor protection through Ontario and minimizing regulatory burden,” said Huston Loke, Executive Vice President, Market Conduct at FSRA. “We now have three highly qualified accrediting bodies with the addition of CSI as it is an existing licensing and designations entity.

Protection of the title of financial planner and financial adviser in Ontario is an important and positive development for industry and consumers seeking financial planning and advice services. Establishing minimum standards of education, conduct, and supervision helps promote consistency, professionalism, and trust among those who use the titles. It also reduces confusion around the wide range of titles and credentials used in the financial services market.

“CSI is very pleased to be approved as a credentialing body by the FSRA under the Financial Professionals Title Protection Framework. Approval of our Personal Financial Planner (PFP®) designation will enable current and future PFP® designation holders to use the financial planning title. Ontario. We strive to help our PFP® credential holders put the interests of their clients first,” says Mary Muldowney, Managing Director, Canadian Securities Institute. “We appreciated the openness and cooperation of FSRA staff throughout the consultation and accreditation process.”

CSI is the third accrediting body approved for the use of the financial planner designation in Ontario. The first two accrediting bodies, FP Canada and the Institute of Advanced Financial Education (IAFE), a subsidiary of Advocis, were approved in April 2022. FSRA-approved credentialing bodies are responsible for supervising and enforcing the conduct of their financial planner or financial advisor credential holders. FSRA requires credentialing bodies to have robust oversight processes and a code of conduct that compels credential holders to put the interests of the client first and ensure the fair treatment of consumers.

To facilitate this transition through the end of 2022, FSRA resources will be focused on approving credentialing bodies and assisting them in implementing the credential protection regime. Recognizing that non-compliant title use may be unintentional, FSRA will focus on responding to consumer complaints and protecting consumers from harm by asking users of non-compliant titles to voluntarily discontinue use of the title. within 30 days.

Learn more

FSRA continues to work on behalf of stakeholders, including consumers and pension plan members, to ensure financial security, fairness and choice for all.

Learn more about www.fsrao.ca.

SOURCE Financial Services Regulatory Authority of Ontario

For further information: For media inquiries, please contact: Russ Courtney, Senior Media Relations and Digital OfficerFinancial Services Regulatory Authority, Email: [email protected]Such. : 437-225-8551


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