Announcements

Final revised Guidance on Pension Plan Amendments to safeguard Ontario Pension Plan Beneficiaries: What you need to know Ontario’s financial services regulator, FSRA, is releasing its final revised Pension Plan Amendments Guidance that promotes the good management of pension plans and protects the

Ontario's financial services regulator, FSRA, and ivari have agreed to conditions on ivari’s licence under the Insurance Act, R.S.O. 1990, c.I.8, as amended (the “Act”). These licence conditions will require, among other things, that ivari retain an independent monitor to review its compliance

FSRA is releasing its Q4 2023-24 service standards scorecard, the fourteenth scorecard put out by the regulator. In every quarterly report to-date, FSRA has met or exceeded service targets for 92.1% of its standards. The service standards and reporting process are designed to improve service

Ontario’s financial services regulator, FSRA, has taken enforcement action with respect to Industrial Alliance Insurance and Financial Services Inc. (“IA”), World Financial Group Insurance Agency of Canada Inc. (“WFGIA Canada”), and Gurpreet Singh Ghuman (“Ghuman”). Between October 8, 2021, and July

Ontario’s financial services regulator, FSRA, and World Financial Group Insurance Agency of Canada (“WFGIA Canada”) have reached an agreement concerning a Notice of Proposal (“NOP”) FSRA issued on April 3, 2023. As part of the agreement, WFGIA Canada will establish an independent supervision team to

Ontario’s financial services regulator (FSRA) is taking steps to better protect life insurance customers with individual segregated fund contracts (seg funds). FSRA is proposing a Rule that would require insurers to provide customers with improved annual statements about the performance and embedded

At the request of the Canadian Securities Institute (CSI), FSRA is removing the Designated Financial Services Advisor (DFSA TM) as an approved credential under the Financial Professionals Title Protection Framework. This decision will not impact most DFSA TM credential holders as the majority hold

Ontario's Financial Services Regulator, FSRA, has initiated enforcement action against Harold Gerstel (Gerstel), Harold the Mortgage Closer Inc. (HTMC), and Esther Gerstel Inc. (EGI). FSRA alleges that Gerstel and HTMC are not suitable to be licensed under the Mortgage Brokerages, Lenders and

Ontario’s financial services regulator, FSRA, is warning consumers that Glendale Financial Group Ltd. (“Glendale Financial”) is not licensed to conduct insurance business in the province. Glendale Financial is believed to be a personal loan broker operating out of the Greater Toronto and Hamilton

Ontario’s financial services regulator, FSRA, is warning consumers that a business using the name of Sunray Federal Credit Union (also known as Sunray Credit Union) is not a registered credit union in Ontario. We encourage consumers to be careful if contacted by Sunray Federal Credit Union or anyone