FAIR Canada believes that establishing minimum proficiency requirements for MFDA Approved Persons to use the title “financial planner” is a step in the right direction but, on its own, will not go far enough. FAIR Canada strongly believes there is an urgent need for a comprehensive, coordinated solution that keeps its focus squarely on consumers’ needs and their capabilities. FAIR Canada urges the MFDA to work with other regulators to develop such a solution.
December 4, 2015
Ken Woodard, Director Communications & Membership Services
Mutual Fund Dealers Association of Canada
121 King Street West, Suite 1000
Toronto, ON M5H 3T9
Sent by email to: email@example.com
Dear Mr Woodard:
RE: Consultation Paper on Standards for Use of the Title “Financial Planner”
FAIR Canada is pleased to provide comments on the MFDA’s Consultation Paper regarding Rule proposals that would prohibit Approved Persons from using the title “financial planner” unless they have appropriate proficiency.
FAIR Canada is a national, non-profit organization dedicated to putting investors first. As a voice for Canadian investors, FAIR Canada is committed to strengthening investor protections in securities regulation. Visit www.faircanada.ca for more information.
We thank you for the opportunity to provide our comments in this submission. We welcome its public posting (if the MFDA adopts our above-noted recommendation) and would be pleased to discuss this letter with you at your convenience. Feel free to contact Neil Gross at 416-214-3408/ firstname.lastname@example.org or Marian Passmore at 416-214-2331/ email@example.com.
Canadian Foundation for Advancement of Investor Rights
 FAIR Canada’s to the Expert Committee to Consider Financial Advisory and Financial Planning Policy Alternatives (September 23, 2015), available online at: http://faircanada.ca/wp-content/uploads/2011/01/150923-Final-FAIR-Canada-Sumission-to-Expert-Panel-re-Financial-Planning_signed.pdf
 FAIR Canada submission to the MFDA regarding Proposed Amendments to Rule 1.2 (Individual Qualification) (September 16, 2015), available online at: http://faircanada.ca/submissions/request-for-comment-on-proposed-amendments-to-mfda-rule-1-2-individual-qualifications-regarding-outside-business-activities-including-financial-planning/
 We note that Quebec has regulatory requirements before someone can hold themselves out as a financial planner.