Announcements

The Financial Services Regulatory Authority of Ontario (FSRA) issued an order imposing three administrative penalties in the total amount of $30,000 on Michael Stoddart. Michael Stoddart held himself out to be an insurance agent contrary to section 401 of the Act, engaged in unlicensed activity

Before being able to practice in Ontario, mortgage licence holders from outside the province will be required to know the provincial rules and regulations so they can properly protect consumers’ interests. As of April 1, 2023, applicants with eligible non-Ontario mortgage sector licences will be

The Financial Services Regulatory Authority of Ontario (FSRA) has initiated enforcement action against World Financial Group Insurance Agency of Canada Inc. (WFG). FSRA alleges that gaps in WFG’s operation and ongoing proceedings by another regulator against WFG may raise reasonable grounds about

In its fourth quarterly outlook report for the credit unions and caisses populaires sector, the Financial Services Regulatory Authority of Ontario (FSRA) found that the sector remains stable during this period of global economic volatility, but loan delinquency has increased and there is the

The Financial Services Regulatory Authority of Ontario (FSRA) issued an order revoking the life insurance and accident sickness agent licence of Saadia Ali (Ali) and an order refusing to renew the corporate insurance agent licence of Anusha Financial Group Inc. (Anusha). Ali is not suitable for

We are pleased to send you the April 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

FSRA launches additional consultations on proposed guidance The Financial Services Regulatory Authority of Ontario (FSRA) is holding additional consultations on guidance that describes requirements for FSRA-licensed mortgage brokers, agents, brokerages and administrators to deter deceptive and

FSRA is seeking input on financial penalties for those who do not follow the rules or break the law The Financial Services Regulatory Authority of Ontario (FSRA) is consulting on proposed Guidance designed to improve consumer protection by appropriately sanctioning persons and entities not in

The New Self-Regulatory Organization of Canada expresses intent to become Credentialing Body The Financial Services Regulatory Authority of Ontario (FSRA) and the New Self-Regulatory Organization of Canada (New SRO) are working on how the New SRO can become a credentialing body for financial

The Financial Services Regulatory Authority of Ontario (FSRA) has initiated enforcement action against Ian Vilafana (Vilafana) and Valor Financial Corp. (Valor). FSRA alleges that Vilafana is not suitable to be licensed as he gave false and deceptive information while dealing in mortgages contrary