The Ontario Finance Minister has approved a Memorandum of Understanding agreement between the Financial Planning Standards Council (FPSC) and the Ontario Securities Commission (OSC). This will enable the two organizations to share information with the aim of improving oversight and strengthening consumer protection, announced the FPSC this week.
Under the agreement, the FPSC and OSC will notify each other about matters relevant to their mandates; share information regarding certification, compliance, and enforcement activities; exchange information regarding investigatory and regulatory approaches and undertake joint educational or advocacy activities.
“The cooperative sharing of information between our two organizations is an important step forward,” says FPSC president and CEO Cary List. “We look forward to working collaboratively with the OSC to provide more effective and efficient oversight to best serve the public interest.”