As a Third Party Accreditor, FP Canada is recognized by the MFDA to perform assessments of CE activity against standards established by the MFDA. This important recognition from the MFDA recognizes the merits of the longstanding FP Canada CE Approval Program.

New CE requirements for all MFDA Approved Persons come into effect on December 1, 2021. Each CE activity must be accredited by Accreditors recognized by the MFDA in order to count towards the fulfilment of the new CE requirements.

FP Canada completed a rigorous application process to earn approval as a Third Party Accreditor. To be approved by the MFDA, Third Party Accreditors must prove that they have at least five years’ experience in acting as a non-profit professional body which administers established proficiency requirements for a certification or designation related to the securities industry, have a code of ethics, and have an enforcement regime which includes a formal, transparent disciplinary process. Applicants must also provide a detailed outline of their CE accreditation policies and procedures, and demonstrate how those processes align with the MFDA’s accreditation requirements.

What this means for you

Given that more than 40% of financial planners certified by FP Canada are also MFDA licensed, the opportunity to have programs accredited both for FP Canada CE requirements and MFDA CE requirements is beneficial for both CE providers and professional financial planners.

Beginning Dec. 1st, organizations that submit courses as part of the FP Canada CE Approval Program will have the opportunity to have those courses reviewed for accreditation by the MFDA. Providers must then register the program separately with the MFDA, and a fee will be required by the MFDA.