On Oct. 27, 2025, CSA NBW published notice of adoption of Rules TPA-001 General and TPA-002 Fees, requirements phased in over multi-year period, to allow to prepare.
Commission made some minor changes to General Rule after comment period and determined changes not material and a further comment period was not necessary.
Rules come into effect Jan. 1, 2026, subject Ministerial approval, proclamation of Act.
Transition periods for individuals using titles financial advisor and financial planner immediately before Jan. 1, 2026, who not hold Commission-approved credential.
Also, transition comply with framework, 2 years for FA, 4 years for financial planners.
CSA NBW issued bulletin on proposed title protection rules for credentialing standards.
TPA-001 General, TPA-002 Fees accompany Financial advisors (FA), financial planner (FP) title protection act, criteria for credentialing bodies, fees in credentials framework.
Applications, Credentialing
Key proposal sections re applications, credentialing body criteria, ongoing obligations; credential criteria; advisor and planner educational requirements, annual returns.
Director approval contingent on applicant ability to evidence expertise, adherence to policies, procedures, code of ethics, governance; ability to oversee subordinates, staff.
Proxy approval if another province approved applicant based on similar criteria.
Application considered abandoned if no follow-up activity by applicant within 60 days.
Credentialing body to review at least annually its program, best practices, industry developments, maintain public current list of credential holders, disciplinary actions.
Yearly review submitted by credentialing body to include confirmation of review, any updates to program, recordkeeping changes, complaints and handling, enforcements.
Approved credentialing body must file an annual return on or before Mar. 31, per year.
Person who used financial advisor/planner, abbreviation of title or equivalent in another language or a title that could be reasonable confused with it may continue to use title.
The bulletin further outlined how long individual may continue to use such titles.
Credentialing Body Fees
Fee payable for an application for approval as a credentialing body, CAD $10,000.
Application with prior CAN regulatory approval, substantially similar criteria, $5,000.
Exemption from section of application or from provision of rules of the act, CAD $450.
Amendment to approval, or approval terms, as a credentialing body, CAD $450.
Annual returns no cost, with CAD $25 for each day late, up to max CAD $1,000.
Approved credentialing body must file an annual return on or before Mar. 31, per year.
Annual fee based on total credentialed holders at Jan. 1 per year, payable Mar. 31.
Fees for Credentials
Fee payable for an application by a credentialing body for approval, CAD $5,000.
Application based on prior CAN regulatory approval, of similar criteria, CAD $2, 500.
Request for reinstatement or for amendment of an approved credential, CAD $450.
Effectiveness
In force on date fixed by proclamation of Bill 29 FA and FP Title protection act.
Consultation
Comments to be provided in writing no later than Wed., Apr. 10, 2024.
In May 2024, CAN IIAC gave feedback on financial advisor requirements, #212708.
Oct. 2025 CSA NBW Notice of Adoption
On Oct. 27, 2025, CSA NBW published notice of adoption of Rules TPA-001 General and TPA-002 Fees, requirements phased in over multi-year period, to allow to prepare.
Commission made some minor changes to General Rule after comment period and determined changes not material and a further comment period was not necessary.
Rules come into effect Jan. 1, 2026, subject Ministerial approval, proclamation of Act.
Transition periods for individuals using titles financial advisor and financial planner immediately before Jan. 1, 2026, who not hold Commission-approved credential.
Also, transition comply with framework, 2 years for FA, 4 years for financial planners.
