Skip to content
Alerts & Updates

Financial Planning Standards Council and Ontario Securities Commission Enter into a Memorandum of Understanding

MOU will strengthen consumer protection for Ontarians


TORONTO, ON – October 23, 2017 
– On October 10, 2017, the Ontario Minister of Finance approved a Memorandum of Understanding (MOU) between Financial Planning Standards Council (FPSC) and the Ontario Securities Commission (OSC).

The MOU supports a framework for cooperation between FPSC and the OSC that will assist in the effective delivery of each organization’s respective mandate. Under the MOU, FPSC and the OSC will cooperate in numerous areas, including:
  • Notifying each other about matters that are materially relevant to their respective mandates;
  • Sharing information regarding registration/certification, compliance and enforcement activities, where appropriate and in the public interest;
  • Exchanging information related to regulatory and investigatory approaches and best practices that are of mutual interest; and
  • Undertaking joint education or advocacy activities relating to financial planning or securities issues.

Greater transparency and increased direct cooperation between FPSC and the OSC will allow each organization to act in the most timely and efficient manner, improving oversight and strengthening consumer protection.

“The cooperative sharing of information between our two organizations is an important step forward,” says FPSC President and CEO Cary List. “We look forward to working collaboratively with the OSC to provide more effective and efficient oversight to best serve the public interest.”

As 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 is responsible for the oversight of approximately 19,000 Certified Financial Planner® professionals and FPSC Level 1® Certificants in Financial Planning across Canada, developing and enforcing the highest ethical and professional standards through rigorous requirements of education, examination, experience and ethics requirements.

The OSC is an independent Crown corporation that is responsible for regulating the capital markets in Ontario. The OSC's statutory mandate is to provide protection to investors from unfair, improper or fraudulent practices and to foster fair and efficient capital markets and confidence in capital markets. The OSC's powers are derived from the Securities Act (Ontario), the Commodity Futures Act (Ontario) and certain provisions of the Business Corporations Act.

For more information, please contact:

Caroline Horcher
Manager, Public Affairs
Financial Planning Standards Council
chorcher@fpsc.ca
416.593.8587, ext. 232 or 1.800.305.9886