(December 6 – 18:00 ET) – A set
of new rules proposed today by the
Canadian Securities Administrators
is a step forward in establishing
a uniform standard of proficiency,
according to the Canadian
Association of Insurance and
Financial Advisors.
“This is a step in the right
direction,” says CAIFA president
and CEO Dave Thibaudeau. “If
you’ve got a rule about who can and
can’t claim to be a financial
advisor, then consumers can at
least be sure that their advisor
meets a certain standard.”
CAIFA agrees with the concept of
the Financial Planning Proficiency
Examination as a “proficiency
filter,” which will set a standard
for registrants and licensees.
CAIFA intends to study the CSA’s
proposal in detail, and deliver a
formal response within the 90-day
comment period set out by the
CSA.
CAIFA was part of an industry
group that helped develop the
proposed rules, which are intended
to harmonize insurance and
securities regulators.
-IE Staff
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