Critic puts teeth into financial planning standards enforcement

Toronto (November 9, 1999) - The noted critic of unethical investment advisers and author of a new book entitled, "Everything You Need to Know About Investing So You Don't Get Fleeced" is about to ensure there are teeth behind the Financial Planners Standards Council's (FPSC) commitment to the enforcement of standards for financial planners.

As FPSC's new Director of Standards Enforcement, Anthony R. Davidson, will investigate complaints about financial planners who hold the Certified Financial Planner® or CFP® designation and bring them before an FPSC disciplinary panel when warranted.

Mr. Davidson says, "For years, investment industry critics including myself have complained about the lack of standards for financial planners. As I say in my book, FPSC can't be a true professional regulatory organization without an investigative and disciplinary function."

Enforcing the CFP standards is an integral part of the Council's commitment to protecting the public. FPSC President Don Johnston says, "There will always be matters brought to our attention requiring investigation and disciplinary action. Mr. Davidson has years of experience in these areas, specifically in the identification of what is and is not unethical behaviour in the financial services industry."

In addition to his role as author and critic, Davidson's is a chartered accountant with experience in senior financial positions and as an investment advisor. He will continue his current independent practice in investment dispute representation and litigation support while fulfilling his new function with FPSC.

Financial Planners Standards Council is a not-for-profit professional regulatory organization founded in 1995 to benefit the public and financial planning profession by establishing and enforcing standards for individuals who choose to earn the Certified Financial Planner (CFP) designation. It is the Canadian licensor of the CFP certification marks used by 50,000 planners in 12 countries around the world. There are currently more than 10,000 planners licensed to use these marks in Canada.