Announcements
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Pension update - September 9, 2024
Pension update
Pensions
All
In this Pension eBlast Welcome message FSRA reports Q2 2024 Solvency Report 2023 Report on the funding of Defined Benefit (DB) Pension plans Defined Benefit (DB) Multi-Employer Pension Plans (MEPPs) Leading Practices Benchmarking Summary Report New! Pension Benefits Guarantee Fund (PBGF) Report New
FSRA issues an Order against Higginson Equipment Inc.
Enforcement Actions
Pensions
All
Ontario’s financial services regulator, FSRA, has issued an Order against Higginson Equipment Inc. (Higginson). Higginson contravened the Pension Benefits Act, R.S.O. 1990, c. P.8, and its regulations, by failing to remit employer and employee contributions totalling $34,931.46 to the pension fund
FSRA releases its final approach to Principles-based Regulation
Guidance
Cross Sector
For Industry
FSRA’s mission is “public service through dynamic principles-based and outcomes-focused regulation”. We believe this approach will lead to a financial services environment that is innovative, flexible, collaborative and responsive, promoting high standards of business conduct and better protecting
FSRA continues to meet or exceed performance targets
Reports
Cross Sector
All
FSRA is releasing its Q1 2024-25 service standards scorecard. According to the report, FSRA met or exceeded 91.4% of its service targets across all regulated sectors. The quarterly report evaluates FSRA's operational and regulatory activities, including license renewals, regulatory applications
FSRA Highlights, September 2024
Newsletters
Cross Sector
All
We are pleased to send you the September 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
FSRA reports continued strength in pension plan solvency and funding amid market challenges
Reports
Pensions
For Industry
The Financial Services Regulatory Authority of Ontario (FSRA) has released its Q2 2024 Solvency Report and the 2023 Report on the Funding of Defined Benefit (DB) Pension Plans, highlighting the resilience and stability of Ontario's pension plans in the face of ongoing market challenges. Key
Protecting homeowners from unnecessary financial stress
Announcements
Mortgage Brokering
For Industry
Mortgage professionals should be aware of new legislation that states that Notices of Security Interest (NOSIs) registered against homeowners’ property titles for consumer goods, like water heaters, are now expired. This is the result of the Ontario Government’s Homeowner Protection Act, which was
Consumers Beware: Ottawa Federal Credit Union is not a registered credit union in Ontario
Enforcement Actions
Credit Unions and Caisses Populaires
All
Ontario’s financial services regulator, FSRA, is warning consumers that a business using the name of Ottawa Federal Credit Union (also known as Ottawa Credit Union or Ottawa Canada Credit Union) is not a registered credit union in Ontario. FSRA encourages consumers to be careful if they are
Consumers Beware: Vatsal Pareshkumar Khamar is not a licensed mortgage broker in Ontario
Warnings
Mortgage Brokering
All
Ontario’s financial services regulator, FSRA, is warning consumers that Vatsal Pareshkumar Khamar (also known as Vic Kumar) is not licensed to conduct mortgage business in Ontario. We urge consumers not to obtain mortgages from or arranged through Khamar. There are potential risks. Consumers getting
Protecting consumers in Ontario's mortgage brokering sector
Reports
Mortgage Brokering
All
Ontario’s financial services regulator (FSRA) is releasing its inaugural Private Residential Mortgage Lending in Ontario Report, which informs its supervision priorities in the mortgage brokering sector. FSRA has made private mortgages a key focus of its mortgage brokering sector supervision plan in