The deal also allows for the exchange of information on regulatory and investigatory approaches
.jpg)
As part of their efforts to fortify consumer protection, the Ontario Securities Commission (OSC) and the Financial Planning Standards Council (FPSC) signed a memorandum of understanding (MOU) that sets a framework for cooperation between the two entities.
Under the deal, FPSC and OSC will be notifying each other about matters that are relevant to their respective mandates. The two are expected to share information regarding registration or certification, compliance and enforcement activities, and in any other appropriate areas that are of public interest.
Additionally, the deal allows for the exchange of information on regulatory and investigatory approaches and best practices that are of mutual interest.
FPSC and OSC will also be facilitating joint education and advocacy activities relating to financial planning or securities issues.
FPSC president and CEO Cary List noted that the MOU will spur greater transparency, which will allow each organization to act in the most timely and efficient manner.
"The cooperative sharing of information between our two organizations is an important step forward," he said, stressing that this will result in an improved oversight and strengthened consumer protection
For more of Wealth Professional's latest industry news, click here.
Related stories:
Are mutual fund investors getting the protection they need?
What recent exam results say about the advisory industry
Under the deal, FPSC and OSC will be notifying each other about matters that are relevant to their respective mandates. The two are expected to share information regarding registration or certification, compliance and enforcement activities, and in any other appropriate areas that are of public interest.
Additionally, the deal allows for the exchange of information on regulatory and investigatory approaches and best practices that are of mutual interest.
FPSC and OSC will also be facilitating joint education and advocacy activities relating to financial planning or securities issues.
FPSC president and CEO Cary List noted that the MOU will spur greater transparency, which will allow each organization to act in the most timely and efficient manner.
"The cooperative sharing of information between our two organizations is an important step forward," he said, stressing that this will result in an improved oversight and strengthened consumer protection
For more of Wealth Professional's latest industry news, click here.
Related stories:
Are mutual fund investors getting the protection they need?
What recent exam results say about the advisory industry
