Ontario Financial Services Planning Regulation Consultation
Toronto, September 1, 2016 - The Ontario Ministry of Finance continues its review of regulations relating to financial advisors and planners. The intent of the review is to help Ontarians facing complex financial and investment decisions access quality, professional advice that serves their financial goals. The ministry has stated that, “unlike many financial service sectors in Ontario, financial advisors and planners are not subject to general regulatory oversight, which could leave consumers and investors vulnerable. This review will focus on addressing this gap by examining more tailored regulations”.
To lead the review and make recommendations, the Province has appointed an independent expert committee and has released an Initial Consultation Document to inform the ongoing review of these services. The “Expert Committee to Consider Financial Advisory and Financial Planning Policy Alternatives” is seeking feedback on the current regulatory framework and the potential need for additional policy measures.
For further details on this initiative refer to this link on the Ministry’s website: http://www.fin.gov.on.ca/en/consultations/rfp.html