How to Lodge a Complaint with FPSC

Only submissions expressing concerns about individuals who hold CFP^® certification, are accepted by FPSC.

To express your concern about the actions of a CFP professional and/or formally lodge a complaint with FPSC, you can submit it through our Secure Online Complaints Site, send it electronically to complaints@fpsc.ca, or mail it to:

Policy Enforcement
FPSC
902 – 375 University Avenue
Toronto, ON M5G 2J5

With the exception of the disclosure of the complaint to the CFP professional (discussed below) all complaints are confidential. Please note that complaints cannot be accepted over the telephone, although questions of process may be directed to Maxine Blagrove at 416-593-8587 ext. 292.

Upon receipt of your complaint, FPSC will confirm that it has been received. At this point the complaint will be forwarded to our investigations department for follow up. As every situation is different, the time required to reach a decision will vary from case to case. However, all efforts will be made to deal with your complaint as expeditiously as possible.

What to Include in a Complaint

To help FPSC effectively address your concerns, please include the following:

• your full name and contact information;
• the name of the CFP professional;
• an overview of the situation and the suspected Code of Ethics violation;
• the dates that the alleged infractions occurred;
• any available information showing that your concern had been brought to the attention of the CFP professional or their firm;
• where applicable, a copy of your letter of engagement;
• notification of whether the complaint has been, or will be, submitted to another legal or regulatory body;
• any other supporting documentation.

You are encouraged to be concise in the description of your complaint, and to remain factual.

We will follow up with you on any additional information that may be helpful in conducting the investigation.

Anonymous Complaints

FPSC will accept anonymous complaints, however it is often the case that the reluctance of the complainant to participate in the process results in FPSC not being able to satisfactorily conduct a full and fair investigation.

Complaints Process

Complaints Handling

All complaints are forwarded to FPSC’s Policy Enforcement for an initial assessment to determine if there is a potential violation of FPSC’s Code of Ethics. During this assessment, we may contact the complainant for further information or clarification.

If it is determined that no breach of the FPSC Code of Ethics has occurred or that a case could not possibly be made, the complainant will be informed of this, and the file will be closed.

Investigations

If it is determined that there are sufficient grounds to launch an investigation, the CFP professional who is the subject of the complaint is sent a copy of the complaint and given the opportunity to respond.

The complainant is advised that the CFP professional has been contacted for a response to the complaint.

The CFP Professional should receive a copy of the initial complaint will have 30 days to respond.

Once the CFP professional’s response and supporting documentation is received and reviewed, a determination will be made as to whether there remains sufficient evidence of a breach of the Code of Ethics.

If there has been NO breach of the Code of Ethics both the CFP professional and complainant will be informed in writing that there has been no breach of the Code of Ethics and  the complaint is dismissed.

If it is determined that there is a possible breach of the Code of Ethics, both parties will be informed and the complaint will be referred to a disciplinary Hearing Panel.

Disciplinary Hearings

Hearings are conducted by an independent disciplinary Hearing Panel. The complainant is not required to attend the hearing.

Disciplinary Hearing Panels are composed of one member of the FPSC Enforcement Policy Committee (who shall be the chair) and two current CFP professionals.

Disciplinary action as stated in Article 7.2 of the Disciplinary Rules and Procedures can include but is not limited to a suspension of the licence to use the CFP Marks, a permanent revocation of the licence to use the CFP Marks, remedial education or a Letter of Admonishment.

FPSC publishes a Report on all Disciplinary Actions on this web site.

Appeals

Either the CFP professional or FPSC (represented by Policy Enforcement) may appeal the ruling of the disciplinary Hearing Panel if they believe that there has been a sgnificat and material error interpreting a provision of the Code of Ethics or the facts.

Appeal Panels are composed of three members of the FPSC Enforcement Policy Committee one of whom serves as Chair. No member of the disciplinary Hearing Panel can participate on the Appeal Panel. The Appeal Panel’s decision is final and there is no further right of appeal.

Greater detail on all of the above can be found in FPSC’s Disciplinary Rules and Procedures.