Innovation is key to a vibrant Ontario financial services sector.

In 2020, FSRA launched the Innovation Office to support you in creating strong, sustainable and competitive innovations in the financial services sector. Since launch, FSRA gathered information, established working relationships and developed an Innovation Framework to guide the creation of responsible and impactful innovations in Ontario.

What's on this page:

Innovation Framework

The Innovation Framework sets clear expectations and guiding principles to help you bring innovative products to market in a sustainable, responsible and accessible way. The framework is in place to make it easier for you to propose new ideas, products and services while maintaining consumer confidence in financial services.

The Innovation Framework public consultation closed on November 18, 2021 and we thank everyone who provided feedback. A detailed summary of feedback is now available for review.

Test and Learn Environments (TLE)

TLE Guidance and Consultation

The proposed Test and Learn Environments (TLE) Guidance outlines the parameters for safe and responsible test and learn environments for new products, services or business models while keeping consumers protected. It includes:

  • TLE for Financial Services and Innovation (Multi-sectoral)
  • TLE Appendix for Auto Insurance (Auto Insurance Sector)

The TLE Guidance will remain open for consultation in 2022 to ensure that you have the opportunity to submit feedback that could influence and shape future versions of test environments.

TLE links:

Auto Insurance TLE (now open)

The first test environment is now open to auto insurance sector applicants with innovative and consumer-focused solutions.

An intake form and General Terms and Conditions sheet is available for download and more information on how to apply is available in the TLE Guidance: Appendix 2 – Guide to Applications for Auto Insurance Exemptive Authority TLE. All applicants must submit the required information to [email protected]. Any questions should be directed to [email protected].

TLE links: