{"id":380113,"date":"2020-11-12T14:30:07","date_gmt":"2020-11-12T19:30:07","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=380113"},"modified":"2020-11-12T14:30:07","modified_gmt":"2020-11-12T19:30:07","slug":"ific-makes-submission-to-fsra-on-financial-professionals-title-protection","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/ific-makes-submission-to-fsra-on-financial-professionals-title-protection\/","title":{"rendered":"IFIC Makes Submission to FSRA on Financial Professionals Title Protection"},"content":{"rendered":"
\n

TORONTO, Nov. 12, 2020 (GLOBE NEWSWIRE) — The Investment Funds Institute of Canada (IFIC) today made its submission<\/a> to the Financial Services Regulatory Authority of Ontario (FSRA) on its proposed Financial Professionals Title Protection<\/em> rule.<\/p>\n

IFIC commends FSRA for striving to strengthen consumer confidence and understanding by introducing minimum standards for the use of the financial planner (FP) and financial advisor (FA) titles, without creating unnecessary burden for title users.<\/p>\n

\u201cTo achieve this objective, we recommend that title users who are members of the Mutual Fund Dealers Association of Canada and the Investment Industry Regulatory Organization of Canada be exempted from the proposed rule,\u201d said Paul Bourque, President and CEO, IFIC. \u201cWithout this exemption, these title users would be subject to duplicative and confusing rules without any additional investor or regulatory benefit.\u201d<\/p>\n

Other recommendations include: providing clients with a description of the products and services offered to clients; undertaking a regulatory impact analysis to weigh anticipated costs and benefits; and consulting with industry stakeholders on titles that are equivalent to FP or FA to reduce the risk of confusion.<\/p>\n

\n About IFIC<\/strong>\n <\/p>\n

The Investment Funds Institute of Canada is the voice of Canada\u2019s investment funds industry. IFIC brings together 150 organizations, including fund managers, distributors and industry service organizations, to foster a strong, stable investment sector where investors can realize their financial goals. By connecting Canada\u2019s savers to Canada\u2019s economy, our industry contributes significantly to Canadian economic growth and job creation.<\/p>\n

\n For more information:<\/strong>\n <\/p>\n

Pira Kumarasamy
Senior Manager, Communications and Public Affairs
pkumarasamy@ific.ca<\/a>
416-309-2317<\/p>\n

\n \n <\/div>\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

TORONTO, Nov. 12, 2020 (GLOBE NEWSWIRE) — The Investment Funds Institute of Canada (IFIC) today made its submission to the Financial Services Regulatory Authority of Ontario (FSRA) on its proposed Financial Professionals Title Protection rule. IFIC commends FSRA for striving to strengthen consumer confidence and understanding by introducing minimum standards for the use of the financial planner (FP) and financial advisor (FA) titles, without creating unnecessary burden for title users. \u201cTo achieve this objective, we recommend that title users who are members of the Mutual Fund Dealers Association of Canada and the Investment Industry Regulatory Organization of Canada be exempted from the proposed rule,\u201d said Paul Bourque, President and CEO, IFIC. \u201cWithout this exemption, these title users would be subject … <\/p>\n

Continue reading “IFIC Makes Submission to FSRA on Financial Professionals Title Protection”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-380113","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nIFIC Makes Submission to FSRA on Financial Professionals Title Protection - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/ific-makes-submission-to-fsra-on-financial-professionals-title-protection\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"IFIC Makes Submission to FSRA on Financial Professionals Title Protection - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"TORONTO, Nov. 12, 2020 (GLOBE NEWSWIRE) — The Investment Funds Institute of Canada (IFIC) today made its submission to the Financial Services Regulatory Authority of Ontario (FSRA) on its proposed Financial Professionals Title Protection rule. IFIC commends FSRA for striving to strengthen consumer confidence and understanding by introducing minimum standards for the use of the financial planner (FP) and financial advisor (FA) titles, without creating unnecessary burden for title users. \u201cTo achieve this objective, we recommend that title users who are members of the Mutual Fund Dealers Association of Canada and the Investment Industry Regulatory Organization of Canada be exempted from the proposed rule,\u201d said Paul Bourque, President and CEO, IFIC. \u201cWithout this exemption, these title users would be subject … Continue reading "IFIC Makes Submission to FSRA on Financial Professionals Title Protection"\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/ific-makes-submission-to-fsra-on-financial-professionals-title-protection\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2020-11-12T19:30:07+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODA4NTIwMyMzODI0ODk0IzUwMDA0OTQ2OA==\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/ific-makes-submission-to-fsra-on-financial-professionals-title-protection\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/ific-makes-submission-to-fsra-on-financial-professionals-title-protection\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"IFIC Makes Submission to FSRA on Financial Professionals Title Protection\",\"datePublished\":\"2020-11-12T19:30:07+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/ific-makes-submission-to-fsra-on-financial-professionals-title-protection\\\/\"},\"wordCount\":265,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/ific-makes-submission-to-fsra-on-financial-professionals-title-protection\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=ODA4NTIwMyMzODI0ODk0IzUwMDA0OTQ2OA==\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/ific-makes-submission-to-fsra-on-financial-professionals-title-protection\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/ific-makes-submission-to-fsra-on-financial-professionals-title-protection\\\/\",\"name\":\"IFIC Makes Submission to FSRA on Financial Professionals Title Protection - 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