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Financial planning groups and consumer advocates say the title framework is undermining consumer protection

Move sparks discussion about captive model and compensation

<p><span>The Ontario Securities Commission (OSC) today announced the membership of its Seniors Expert Advisory Committee (SEAC) for the 2021-2022 term.</span></p>

The Globe and Mail Jason Pereira Published April 20, 2021 In court cases in which judges can find that an advisor provided ‘unsuitable’ advice or failed to act as a fiduciary, they will often opt for the former as it is easier to prove and more likely to stand up to appeal. designer491/iStockPhoto / Getty Images Ask the average Canadian investor if current regulations require financial advisors to act in the best interests of their clients. Their responses would likely be split between “yes” and “I sure hope so.” But the real answer to this question is, “No, but with few exce...

James Langton Accurate labelling is Consumer Protection 101. Yet, in the retail investment business, this principle proves fiendishly difficult to implement. The Financial Services Regulatory Authority of Ontario (FSRA) has undertaken the latest effort to ensure that individuals who call themselves financial advisors or financial planners are qualified to provide advice or planning services. In August, FSRA published a proposed rule that sets out minimum standards to qualify as a “financial advisor” or “financial planner.” The proposal also establishes requirements credentialing bodie...