Announcements

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

FSRA is pleased to welcome Dave Patriarche to its technical advisory committee on Insurer Oversight of Managing General Agencies (MGAs). Members of this advisory committee provide FSRA with expert advice on trends and issues related to the distribution of life and health insurance via MGAs. Dave

Q2 FY 2024-2025 Service Standards Scorecard FSRA takes action to improve performance in the future FSRA is releasing its Q2 FY 2024-2025 service standards scorecard. Although FSRA consistently met or surpassed 86.1% of its service targets across all regulated sectors, the processing time for Life

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

Ontario's financial services regulator, FSRA, has initiated enforcement action against Ishaan Ahuja (“Ahuja”). FSRA alleges Ahuja is no longer suitable to be licensed under the Insurance Act, R.S.O. 1990, c.I.8, as amended (the “Act”) and its regulations, because he provided false information with

Ontario's financial services regulator, FSRA, has initiated enforcement action against Viviana Prentice (Prentice). FSRA alleges that Prentice received remuneration from a person other than her brokerage, contrary to section 4(1) of Ontario Regulation 187/08. FSRA is proposing to revoke Prentice’s

We are pleased to send you the December 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

Ontario's financial services regulator, FSRA, has initiated enforcement action against Rahman Mohammed (Mohammed). FSRA alleges that Mohammed caused his brokerage to fail to comply with the following requirements under the Mortgage Brokerages, Lenders and Administrators Act, 2006, S.O. 2006, c.29