The Financial Advisors Association of Canada Act

'The Financial Advisors Association of Canada Act' is an Act passed by Parliament in 2003 to amalgamate two professional associations: the Canadian Association of Insurance and Financial Advisors (CAIFA) and The Canadian Association of Financial Planners (CAFP). The amalgamation aimed to create a single entity, The Financial Advisors Association of Canada (FAAC), with a broader scope and expertise in financial planning. This Act establishes the FAAC as a non-profit corporation without share capital, governed by a board of directors and subject to certain regulations and requirements.