certification and professional supervisory bodies, FP Canada new people say Title Protection Act for Financial Advisors and Financial Planners Following the New Brunswick government’s announcement of new legislation, New Brunswick will provide greater clarity and protection to consumers seeking financial advice in the state.
“Today, FP Canada commended the New Brunswick government for advancing a title protection bill for financial planners and financial advisors that would improve clarity and protection for consumers seeking help in New Brunswick,” they said in June. I wrote in a statement about the government’s announcement on the 16th.
“By passing the Financial Advisor and Financial Planner Titles Protection Act, the Government of New Brunswick is creating minimum standards for individuals using the titles of financial planners and financial advisors. , so you can be confident that the individuals you deal with are properly qualified.” They are qualified, meet ethical standards, and their professional conduct is overseen and accountable. ”
This law restricts the use of these titles within the state to individuals who hold an approved credential from a nationally recognized credentialing agency. New Brunswick Financial and Consumer Services Commission (FCNB), state financial and consumer services regulator.
there are about 300 certified financial planner (CFP) and Qualified Associate Financial Planner In-state (QAFP) credential holders. FP Canada plans to apply for approval as a provincial accreditation agency under the new legislation and framework.
“This law is consistent with similar credential protection laws passed in recent years in Ontario and Saskatchewan, and New Brunswick is the fourth province, including Quebec, to regulate the use of credentialed financial planners. state,” the statement added.
“FP Canada also commends the extensive commitment and consultation that has taken place to support the development of the FCNB. activityGoing forward, the association said it looks forward to developing the details of the implementation of supporting rules, regulations and frameworks.