TORONTO, July 22, 2021 / CNW / – The Financial Services Regulatory Authority of Ontario (FSRA) continues its work to protect the titles of financial planners and advisers in Ontario. FSRA is committed to being transparent and working with stakeholders to ensure effective and efficient regulation.
FSRA is currently consulting on proposed changes to the FSRA fee rule to establish a fee structure for the financial professional sector. The proposed changes reflect comments received during the second consultation on the proposed Financial Professionals Title Protection Rule (FPTP), which summarized FSRA’s approach to the proposed fee structure.
The fees would allow FSRA to recover the initial costs of designing and implementing the title protection framework, as well as the ongoing regulatory costs of overseeing the industry. These include costs related to the supervision and monitoring of accreditation bodies, handling of complaints and other activities to support the framework. The proposed fee structure for the financial professional sector is intended to be fair, consistent and straightforward, so that each accreditation body pays its fair share of the costs.
To review the proposed changes and submit your comments, please visit the consultation page. The consultation period is now open and will end on 20 October 2021.
SOURCE Financial Services Regulatory Authority Ontario