FP Canada Standards Council™ Releases its 2024 Report
The FP Canada Standards Council 2024 Report outlines enforcement activity, the latest developments related to certification paths and exams, and other key updates from the Standards Council, which sets, maintains and enforces financial planning standards in the public interest.
TORONTO, May 29, 2025 /CNW/ - The FP Canada Standards Council has released its 2024 Report, which provides an overview of activities and initiatives during the 2024 year. The Standards Council, which is a division of FP Canada™, sets the certification requirements for Certified Financial Planner ® professionals and Qualified Associate Financial Planner™ professionals in Canada. In addition, it maintains and enforces financial planning standards in the public interest, thereby fostering trust in the financial planning profession.
The report provides an overview of complaint and disciplinary activity in 2024, along with updates on trends observed by the enforcement department and the independent panels that support the Standards Council. It also highlights recent developments related to certification paths and certification exams.
Here are a few key highlights of the Standards Council's activities in 2024:
Updates to the FP Canada Standards Council Standards of Professional Responsibility, including the addition of two new Rules of Conduct, a new Practice Standard, and comprehensive updates to all Practice Standards for relevance and clarity. The changes were approved by the Standards Panel in March of 2024 and took effect June 1, 2024.
The publication of new guidance related to the withdrawal of services, and two Rule interpretation bulletins in connection with new Rules of Conduct introduced in June 2024.
FP Canada and the Institute of Financial Planning in Québec each launched new paths streamlining the process for Certified Financial Planner professionals to earn the financial planning diploma required for the F.Pl. designation, and for F.Pl. designation holders to earn CFP ® certification. The paths help bolster the organizations' joint efforts to create national standards for professional financial planning.
Ongoing engagement with more than 230 volunteers who contributed to activities such as exam development and scoring, maintaining the Standards of Professional Responsibility, and complaint screening and hearing panel activities.
"In 2024, the FP Canada Standards Council focused on continuing to strengthen financial planning standards in the interest of all Canadians," said Damienne Lebrun-Reid, General Counsel and Head of the FP Canada Standards Council. "As the financial planning profession evolves, ensuring that ethical and professional standards continue to be relevant and clear supports CFP professionals and QAFP ® professionals in providing financial planning services in the public interest."
View the full Standards Council 2024 Report on the FP Canada website.
About FP Canada
Established in 1995, FP Canada is a national not-for-profit education, certification and professional oversight organization working in the public interest. FP Canada is dedicated to championing better financial wellness for all Canadians by leading the advancement of professional financial planning in Canada.
About the FP Canada Standards Council
A division of FP Canada, the FP Canada Standards Council establishes and enforces financial planning standards, sets the certification requirements for professional financial planners and develops and delivers certification exams. The FP Canada Standards Council ensures that professionals certified by FP Canada―Certified Financial Planner professionals and Qualified Associate Financial Planner professionals―meet appropriate standards of competence and professionalism through requirements of education, exam, experience, and ethics.
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