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Standards and Enforcement
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CFP® professionals and FPSC Level 1® Certificants in Financial Planning adhere to rigorous standards and have a written obligation to put clients’ interests ahead of their own. Ensuring adherence to these standards protects both the Canadian public and the reputation of the financial planning profession.

The Standards of Professional Responsibility for CFP Professionals and FPSC Level 1 Certificants in Financial Planning, set and enforced by FPSC, define the ethical and professional responsibilities of CFP professionals and FPSC Level 1 certificants. The Standards of Professional Responsibility encompass four sets of standards:

  • FPSC® Code of Ethics
  • FPSC® Rules of Conduct
  • FPSC® Fitness Standards
  • FPSC® Financial Planning Practice Standards

FPSC vigilantly guards the trust Canadians have placed in CFP professionals and FPSC Level 1 certificants. Under the direction of Standards and Enforcement, FPSC promptly addresses all concerns that come to our attention and thoroughly investigates all allegations of misconduct.

Where a CFP professional has been found to have breached a provision of one of the above standards, FPSC can take disciplinary action ranging from a letter of admonishment to permanent revocation of the right to use the CFP Marks.

Where the individual is an FPSC Level 1 certificant, the severest sanction is expulsion from the FPSC Level 1 certification program, thereby preventing the individual from ever obtaining CFP certification.

Because financial professionals often hold more than one credential or financial licence, FPSC works closely with other accrediting, licensing and regulatory organizations when appropriate.

FPSC makes all final disciplinary actions public by publishing Reports on Disciplinary Actions in accordance with the Policy on the Publication of Disciplinary Information. All FPSC investigations are confidential and will only be made public in very exceptional circumstances in accordance with the Policy on the Disclosure of Investigations and Interim Suspensions.


To lodge a complaint against a CFP professional or FPSC Level 1 certificant, please see How to Lodge a Complaint with FPSC.


Proposed amendments to the Standards of Professional Responsibility

FPSC’s Standards Panel has proposed amendments to the Standards of Professional Responsibility for CFP® Professionals and FPSC Level 1® Certificants in Financial Planning. FPSC invites input on the proposed amendments until Friday, September 14th, 2018 at 5:00 p.m. ET. Read more here.


 

Previous Versions of the Standards of Professional Responsibility

The current version of the Standards of Professional Responsibility was released in June 2017. Any complaints alleging misconduct by a current CFP professional or FPSC Level 1 certificant that occurred prior to June 2017 will be governed by previous versions of the Standards of Professional Responsibility. All versions dating back until the year 2000 may be accessed below:

Mar 2016 to May 2017 Standards of Professional Responsibility for CFP Professionals and FPSC Level 1 Certificants in Financial Planning
Jun 2015 to Feb 2016  Standards of Professional Responsibility for CFP Professionals and FPSC Level 1 Certificants in Financial Planning
Nov 2014 to May 2015 Standards of Professional Responsibility for CFP Professionals and FPSC Level 1 Certificants in Financial Planning
Oct 2014   Standards of Professional Responsibility for CFP Professionals and FPSC Level 1 Certificants in Financial Planning
Mar 2014 to Sep 2014  Standards of Professional Responsibility for CFP Professionals and FPSC Level 1 Certificants in Financial Planning 
Nov 2011 to Feb 2014 Standards of Professional Responsibility for CFP Professionals and FPSC Registered Candidates 
Jan 2010 to Oct 2011 CFP Code of Ethics 
CFP Financial Planning Practice Standards 
Apr 2005 to Dec 2009 CFP Code of Ethics 
Jun 2000 to Mar 2005
Code of Ethics