Announcements

Ontario's financial services regulator, FSRA, has imposed administrative penalties in the amount of $20,000 against Patricia Porretta (Porretta). Porretta gave false and deceptive information when dealing in mortgages, contrary to section 43(2) of the Mortgage Brokerages, Lenders and Administrators

We are pleased to send you the January summary of key activities from the Financial Services Regulatory Authority of Ontario (FSRA). The newsletter is designed to help you quickly review key initiatives during the past month. Our goal is to provide you with relevant communications and information to

Ontario’s financial services regulator (FSRA) is committed to ensuring Ontario drivers are paying the right price for the right auto insurance coverage. As part of this initiative, FSRA is now seeking feedback on the final chapter of its proposed Automobile Insurance Rating and Underwriting

To better protect credit union members, FSRA, Ontario’s financial services regulator, is proposing an Unclaimed Deposits Rule and accompanying guidance for a second consultation. The Rule will require credit unions to transfer unclaimed deposits to FSRA after the account has been inactive for 10

A new report by Ontario’s financial services regulator, FSRA, suggests that the life and health insurance industry has more work to do to protect consumers. Between 2022-2024, FSRA reviewed 319 agents through its Life Agent Misconduct Report and proactive supervision programs. FSRA identified

Ontario's financial services regulator, FSRA, has refused to renew the mortgage broker licence of Michael Ryland Slattery (Slattery) and has revoked the mortgage brokerage licence of Skylark Holdings Limited (Skylark). Slattery, the principal broker of Skylark, is no longer suitable to be licensed

Ontario's financial services regulator, FSRA, has initiated enforcement action against Richard Bowers (“Bowers”). FSRA alleges that Bowers is not suitable to be licensed as a mortgage agent because he provided false information with respect to the application for the licence and his past and ongoing

Ontario’s financial services regulator (FSRA) is releasing the 2025 indexation amounts for auto insurance injury claims. The amounts being paid to auto accident victims for things like income replacement, hiring caregivers and rehabilitation are being increased by 1.6 per cent. These amounts are

FSRA conducted a review of property and casualty (P&C) insurers’ outsourcing relationships with managing general agents (MGAs) because of their significant role in the Ontario P&C market and the potential for consumer harm. The review found that MGAs provide specialized insurance coverage, but their

Ontario’s financial services regulator, FSRA, has imposed six administrative penalties in the total amount of $30,000 on Samuel Dawson (Dawson). Dawson gave false or deceptive information and documents when dealing in mortgages in Ontario on six separate occasions, contrary to section 43(2) of the