Epilogue

• Author: Anita Indira Anand
• Pages: 178-180

178

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Epilogue

As demonstrated by its resilience during the global nancial crisis,

Canada’s nancial system, including its regulatory initiatives, stands

as a model for other jurisdictions to follow. Yet the work of secur-

ities regulation — and the need to protect investors — continues.

Looking ahead, what are some market and regulatory trends that

securities regulators should bear in mind?

In Ontario’s 2019 provincial budget, the government stated its

intention to regulate the use of the titles of “nancial planner” and

“nancial adviser.” Indeed, the government is moving forward with

the Financial Professionals Title Protection Act, 2019, which would require

individuals who use the title of nancial planner or nancial adviser

to have certain credentials. This legislation would create a credential-

ing body that would be responsible for establishing requirements for

using these or any similar titles, as well as for ensuring compliance.

The Canadian Securities Administrators group has similarly pro-

posed reforms to the regulation of nancial planners. It is seeking to

introduce new disclosure rules and enhance current requirements

that aim to help to address certain conicts of interest that nan-

cial planners may have. Given that many Canadians participate in the

capital markets aer consulting with nancial planners, increased

oversight in this area stands to increase investor protection.

1 SO 2019, c 7, Sch 25 [not yet in force].