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Independent Panels Provide Oversight

Three independent panels play a direct role in setting, maintaining and enforcing the standards of the profession. The panels include CFP® professionals and members of the public. Their diverse members reflect a broad range of practice experience and come from across Canada.

Standards Panel 

    Conduct Review Panel 

    • Reviews staff reports and directs the appropriate disposition of complaints 
    • Provides guidance to the profession through anonymized Guidance and with Practice Guidance reports on emerging issues such as documenting the terms of engagement, or disclosure requirements for CFP professionals and QAFP professionals
    • A Guidance and Advice Search Tool allows the public to search the Guidance and Advice given by the Conduct Review Panel by year, keyword or open text. It increases access and promotes transparency for professional financial planners, stakeholders and the public

    Discipline Hearing Panel

    • Adjudicates each disciplinary matter and decides on the appropriate sanctions  
    • A Hearing Panel can also award costs of the proceeding against the CFP professional or QAFP professional  

    Published information Ensures Transparency

    • Letters of Guidance and Advice are published anonymously on FP Canada’s website to provide information to CFP professionals and QAFP professionals and the public about the type of conduct that is a concern to the Conduct Review Panel. 
    • Before a disciplinary hearing, the Standards Council publishes Statements of Allegations with details about the alleged misconduct on FP Canada’s website. 
    • All disciplinary hearing reports are published on FP Canada’s website, and disciplinary history is linked to the Find a Planner tool.
     

    Set, Maintain & Enforce

    The Standards Council takes a three-step approach to setting, maintaining, and enforcing the policies and practices that govern CFP professionals and QAFP professionals.

    Set, Maintain & Enforce

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