CLHIA Comments on FSRA financial professionals title protection rule and guidance

As this series of consultations draws to a close, there are several final concerns. The CLHIA has highlighted the risk of consumer confusion about what holding a Financial Advisor (FA) credential means. Also, the language used to describe a credential holder’s standard of care is inconsistent with fair treatment of consumers (FTC) regulatory guidance. As written, the current wording potentially introduces new legal concepts. To prevent problems, we suggest that it be adjusted to align with the existing FTC regulatory guidance.