Announcements

In this issue Welcome Hey mortgage professionals, change is coming that could affect you Taking a stand against money laundering and terrorist financing Building a better customer experience Are you doing everything you can to detect and prevent mortgage fraud? Dear FSRA: Clarifying disclosure to

Ontario's Financial Services Regulator, FSRA, has refused to renew the mortgage agent licence of Aid Almusri (Almusri) and imposed administrative penalties in the amount of $30,000 against Almusri. Almusri contravened subsection 43(2) of the Mortgage Brokerages, Lenders and Administrators Act, 2006

FSRA proposes new Unclaimed Deposits Rule To better protect credit union members and their deposits, Ontario’s financial services regulator (FSRA) is proposing an Unclaimed Deposits Rule and accompanying Guidance. The Rule will require credit unions to transfer deposits to FSRA after the account has

Joanne De Laurentiis, Chair of the Board for the Financial Services Regulatory Authority (FSRA) is pleased to announce the appointment of Rob Wellstood to its Board of Directors for a two-year term, effective March 7, 2024. "We are delighted to welcome Rob to the FSRA Board," said Joanne De

Ontario's financial services regulator, FSRA, has refused to renew the insurance agent licence of Sadrudin Khushal (“Khushal”). Khushal is not suitable to hold a licence because he has contravened Ontario Regulation 347/04 by providing material misstatements or omissions in his applications for an

Mark White, CEO of the Financial Services Regulatory Authority of Ontario (FSRA) announces the appointment of Andrew Fung as the Executive Vice President (EVP) of Pensions, effective immediately. Andrew is a well-known and respected leader within FSRA and the pension sector. He has provided valuable

Ontario’s financial services regulator (FSRA) is releasing final guidance to ensure its use of general Administrative Monetary Penalties is measured, proportionate and protects Ontario consumers. The guidance explains how FSRA interprets and applies the law when general Administrative Monetary

To better protect consumers, Ontario’s financial services regulator, FSRA, is proposing guidance that clearly explains how we assess if current or aspiring mortgage agents or brokers are suitable to be licensed. This is the first time we are providing guidance to the sector on this topic. FSRA wants

We are pleased to send you the March 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 launching an education campaign encouraging all consumers to check the credentials of the person they are getting financial advice from. FSRA is making it easy for consumers to do this through a new online tool. The Check Credentials Tool will help