In July, the Ontario government announced plans to review the regulation of the province’s financial planners. As part of that process, it released a consultation report on alternatives to Ontario’s current financial advisory regulation model.
In response to that report, Advocis has outlined the need to enhance the regulation of all types of financial advisors. Rather than have the MFDA, IIROC, OSC, and FSCO overseeing advisors, Advocis is calling for the establishment of one delegated administrative authority (DAA) that would regulate the activities of all advisors who operate at the retail consumer level.
Advisor.ca – September 23, 2015.
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