FPSC creates additional oversight for standards

The FPSC has created an independent panel to oversee its financial planning standards.

The FPSC, the body that oversees and enforces the CFP certification, says its new standards panel enhances its oversight and “supports the continued rigour, efficiency and relevance of FPSC’s important work.”

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The 10-member standards panel includes certified planners and “members of the public with a keen interest in financial planning standards,” the FPSC says in a release.

The panel will be chaired by CFP Susan Howe. Its other members, all certified planners, are Caroline Fallis, Warren Hope, William Jack, David Johnson, Ross McShane, Zeynep Onen, Elyse Pinsonneault, Lesley Poole, and Rhonda Sherwood.

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The Ontario government has proposed regulations to oversee people who use the financial planner designation. The government has said the absence of a legal framework for financial advisory and planning services “has raised questions about proficiency, quality standards and conflicts of interest.”

FPSC’s board of directors will continue to be responsible for the organization’s purpose and mandate.

The group’s other oversight panels are the Level 1 examination panel, the CFP examination panel and the conduct review panel.

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