Why are s. 59-62 (Declarations of Competency and Declarations of Conflict of Interest) not in force?
Feedback received through the 2018 intentions paper highlighted the administrative burden and cost associated with filing declarations every time a registrant undertook services.
As the intent behind these provisions is to identify the registrant’s competence and increase transparency around conflicts of interest, OSPG explored other mechanisms through which the same goals could be achieved.
This includes a requirement for registrants to list their areas of practice on a public register and for regulated firms to address expectations around avoiding or addressing conflicts of interest.
Currently, the requirement for the declaration previsions is not in force. This will allow for more time to evaluate the effectiveness of these other mechanisms in meeting intent.