FSRA implements new labour mobility licensing process

Working in Ontario will soon be easier for financial services professionals across Canada

Beginning January 1, working in Ontario will become easier for financial services professionals across Canada. In early June, the Protect Ontario Through Free Trade Within Canada Act 2025 received Royal Assent. The Bill removes barriers to trade in goods and services, to labour mobility and to investment between Ontario and other jurisdictions within Canada.

Eligible individuals with an equivalent licence from other Canadian jurisdictions will now get an “express lane” to licensing in Ontario. This means financial services professionals who hold an equivalent licence in another province would be allowed to do business in Ontario almost immediately, even while they’re waiting for their Ontario licence to be approved. The new process will be similar to Ontario’s current out-of-province licensing process. The main differences for out-of-province applicants include:

• being deemed certified and able to start working once FSRA confirms receipt of a complete “as of right” application, including all required documents
• specific timelines for regulators to respond to and approve licensing applications
• having six months to complete full licensing requirements
• facing penalties for making a false representation in order to access “as of right” privileges in Ontario

FSRA is actively assessing and operationalizing these important new changes.

Applicants who do not meet the criteria for the new labour mobility licensing process will continue to be eligible to apply through the standard out-of-province licensing process.

FSRA licenses mortgage brokers and agents, life and health insurance agents, property and casualty insurance agents, insurance adjusters and health service providers.

Learn more:

• Mortgage Brokering
  • Apply for a mortgage agent level 1 licence from a different province/territory
  • Apply for a mortgage agent level 2 licence from a different province/territory
  • Apply for a mortgage broker licence from a different province/territory
• Insurance
  • Apply for an accident & sickness insurance licence from another province or territory
  • Apply for a life and accident & sickness insurance licence from another province or territory
  • Apply for a general insurance agent licence from another province or territory
  • Apply for an insurance adjuster licence from another province or territory
• Ontario Government website – Bill 2

FSRA continues to work on behalf of all stakeholders, including consumers, to ensure financial safety, fairness, and choice for everyone.

Learn more at www.fsrao.ca.