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FPSC Welcomes Ontario Securities Commission’s Seniors Strategy

TORONTO, ON – March 20, 2018 Financial Planning Standards Council (FPSC) welcomes today’s Ontario Securities Commission (OSC) release of its Seniors Strategy and its commitment to more effectively respond to the needs of older Ontarians.

“This Strategy represents an important step forward in ensuring seniors and those who provide them with financial advice will be better equipped to chart a path to a stronger, more successful financial future,” says FPSC President and CEO Cary List.

Of significant note, FPSC is pleased to see that the OSC’s Strategy includes recognition of the need to address titles that too often confuse and mislead consumers, including seniors. FPSC has long advocated for clarity around the various forms of financial advice.

FPSC is also encouraged by the Strategy’s emphasis on the importance of breaking down silos to enhance cooperation between regulators and other stakeholders, in the public interest. FPSC recently entered into a Memorandum of Understanding with the OSC to allow each organization to act in the most timely and efficient manner, improving oversight and strengthening consumer protection.

FPSC looks forward to lending its support and expertise to the OSC on this important issue for seniors and all Ontarians.

About Financial Planning Standards Council
A professional standards-setting and certification body working in the public interest, FPSC’s purpose is to drive value and instill confidence in financial planning. FPSC ensures those it certifies―CERTIFIED FINANCIAL PLANNER® professionals and FPSC Level 1® Certificants in Financial Planning―meet appropriate standards of competence and professionalism through rigorous requirements of education, examination, experience and ethics. With FPSC’s formal partnership with the Institut québécois de planification financière (IQPF), which is the only organization authorized to certify Financial Planners in Québec, there are more than 23,500 Financial Planners in Canada who have met, and continue to meet, FPSC’s standards. More information is available at FPSC.ca and FinancialPlanningForCanadians.ca.

For more information, please contact:
Caroline Horcher
Financial Planning Standards Council
chorcher@fpsc.ca
416.593.8587, ext. 232 or 1.800.305.9886