Standards and Enforcement

All FP Canada certificants have a professional obligation to adhere to rigorous standards and have a written obligation to put clients’ interests ahead of their own. FP Canada Standards Council sets and enforces these standards for the protection of the Canadian public and to safeguard the reputation of the financial planning profession.


Standards Expected of FP Canada Certificants

The FP Canada Standards Council Standards of Professional Responsibility includes the:

  1. Code of Ethics: The principles that guide the conduct of FP Canada certificants.
  2. Rules of Conduct: The specific standards of conduct expected of FP Canada certificants.
  3. Fitness Standards: The good character requirements and potential bars to new and continued certification with FP Canada.
  4. Practice Standards: The steps to be followed in a financial planning engagement.

All FP Canada certificants are held to the professional standards detailed in the Standards of Professional Responsibility.

View previous versions of the Standards of Professional Responsibility

Enforcement of Standards

FP Canada Standards Council vigilantly guards the trust that Canadians have placed in FP Canada certificants by addressing concerns that come to our attention and by thoroughly reviewing allegations of professional misconduct. All FP Canada Standards Council Investigations are confidential. In very exceptional circumstances, some Investigations may be made public in accordance with the FP Canada Standards Council Policy on the Disclosure of Investigations and Interim Suspensions.

 

Notice of Enforcement Hearings

Following consideration and referral by the Conduct Review Panel, an independent Hearing Panel is convened to consider allegations of professional misconduct. FP Canada Standards Council provides notice of upcoming Hearings and Appeal Hearings.
View reports on disciplinary actions

Name of Parties Format & Date of Hearing
FP Canada Standards Council and Randy Bretzer, CFP®Disciplinary Hearing: August 15, 2019
FP Canada Standards Council and John Paul SanchezDecision on Merits pending
FP Canada Standards Council and Kris StarostaDecision on Merits pending

* This schedule is provided for public information and is subject to change.

 

Disciplinary Sanctions

In accordance with the FP Canada Standards Council Disciplinary Rules and Procedures, where an FP Canada certificant is found to have breached the FP Canada Standards Council Standards of Professional Responsibility, disciplinary sanctions may range from a Letter of Admonishment to suspension or revocation of certification. For CFP professionals, the severest sanction is permanent revocation of the right to use the CFP marks. For FPSC Level 1 certificants, the severest sanction is revocation of certification, which would also prevent the obtainment of CFP certification.

 

Coordinating with External Licensing and Professional Bodies

Because financial planning professionals often hold more than one credential or financial licence, FP Canada Standards Council works closely with other accrediting, licensing and regulatory organizations when appropriate.

 

Have a Concern About an FP Canada Certificant?

Have a Concern About an FP Canada Certificant? If you have a concern about an FP Canada certificant, you can submit a complaint to the FP Canada Standards Council. Learn how to do so and what to expect from the Investigation process.