Announcements

United Employees Credit Union Limited (“United Employees”) has applied to the Financial Services Regulatory Authority of Ontario to reduce its stated capital under section 64 of the Credit Unions and Caisses Populaires Act (the “Act”) in order to complete a merger transaction with DUCA Financial

The Financial Services Regulatory Authority of Ontario (FSRA) is taking action to ensure mortgage administrators are protecting the funds and investments they handle for investors and lenders. Today, FSRA is issuing final guidance that explains how mortgage administrators must comply with financial

Changes are coming to the fees that credit unions pay, and the Financial Services Regulatory Authority of Ontario (FSRA) is providing advanced notice. These changes were made to better reflect the actual costs of the services FSRA provides to specific credit unions. It would be unfair to have the

The Financial Services Regulatory Authority of Ontario (FSRA) is pleased to announce that Glen Padassery has agreed to lead the Auto/Insurance Products (AIP) team at FSRA, as EVP Auto/Insurance Products, through the important work to develop and commence implementation of our Auto Rating and

FSRA releases 2023 study on auto insurance The Financial Services Regulatory Authority of Ontario (FSRA) is using research to improve the auto insurance system for consumers. The results from a study conducted in early 2023 will be benchmarked against results from 2020 to identify trends and changes

The Financial Services Regulatory Authority of Ontario (FSRA) has initiated enforcement action against Dewan Ahmed (Ahmed). FSRA alleges that Ahmed is not suitable to be licensed as a mortgage agent because Ahmed made a false statement or has provided false information with respect to the

The Financial Services Regulatory Authority of Ontario (FSRA) is changing its licensing processes for criminal record checks to ensure the processes remain up-to-date and are as efficient as possible. What will be different? As of December 8, 2023, directors, officers or partners (DOPs) will be

As announced in July, the Financial Services Regulatory Authority of Ontario (FSRA) has changed its licensing processes for criminal record checks to ensure the processes remain up-to-date and are as efficient as possible. This process will now apply to corporate and partnership insurance agencies

The Financial Services Regulatory Authority of Ontario (FSRA) has imposed a compliance order and administrative penalty of $15,000 against Romeo Vitelli (Vitelli). The compliance order prohibits Vitelli from conducting examinations, assessments, or treatment plans under the Statutory Accident

The majority of defined benefit pension plans in Ontario remain strong despite an uncertain global economy and negative investment returns. In its Q3 2023 Solvency Report, the Financial Services Regulatory Authority of Ontario (FSRA) found that the median solvency ratio hit a historic peak and more