A Bill regulating the financial advice industry has been introduced into the legislature of the Canadian province of Ontario, and welcomed by the country's advice industry body.
Liberal Member of Provincial Parliament (MPP) Rick Bartolucci introduced a private member’s Bill this week that would see financial advisers compelled to register with a new self-regulatory body.
Having pushed for reforms of this kind for more than a decade, Canadian advice industry association Advocis has warmly welcomed the introduction of the Bill.
“Doctors, lawyers, engineers, accountants and many other groups are regulated as a profession. It's time for those who are critical to the financial well-being of so many Ontarians to be regulated as well,” said Advocis president and chief executive Greg Pollock.
“We want to maintain the highest level of trust and confidence in our profession. We want to prevent the unqualified from practising, and put the unscrupulous out of business.”
SUBSCRIBE TO THE IFA DAILY BULLETIN
11 Dec 2017Insurance engagement driven by advisersBy Jessica Yun
11 Dec 2017Kaplan pushes for new CPD regimeBy Staff Reporter
11 Dec 2017Senate approves AFCA billBy Annie Kane
11 Dec 2017Treasury reassess early super release rulesBy Miranda Brownlee
8 Dec 2017Dunsford embarks on acquisition huntBy Killian Plastow
8 Dec 2017ASIC reaffirms interest in reference check protocolsBy Killian Plastow
- view all