Announcements

The Financial Services Regulatory Authority of Ontario (FSRA) has initiated enforcement action against James Michalopoulos (Michalopoulos). FSRA alleges that Michalopoulos provided false or misleading information to FSRA on his licence applications, contrary to section 45 of the Mortgage Brokerages

The Financial Services Regulatory Authority of Ontario (FSRA) announced today that the Minister of Finance has approved the Amended Unfair or Deceptive Acts or Practices (UDAP) Rule. The Amended UDAP Rule will strengthen protection for life insurance customers. It does so by eliminating new sales of

The Financial Services Regulatory Authority of Ontario (FSRA) is taking steps to ensure mortgage administrators are better protecting funds and investments they handle for investors and lenders. FSRA is now consulting on proposed guidance that explains what mortgage administrators need to do to

In this Pension eBlast Introduction FSRA Reports Q1 2023 Solvency Report New processes, updates and reminders New: Guide on Bankruptcy Update: Pension Plan examinations Update: Outreach to Defined Contribution (DC) Pension plans Update: More than 175,000 missing members in Ontario Consultation on

The Financial Services Regulatory Authority of Ontario (FSRA) welcomes 15 new members to its Technical Advisory Committee (TAC) for Auto Rates and Underwriting Regulation Reform (ARURR). The purpose of this reform is to make auto insurance rates and underwriting fairer, promote regulatory efficiency

FSRA’s latest solvency report attributes growth to strong investment gains The Financial Services Regulatory Authority of Ontario (FSRA) released its Q1 2023 Solvency Report today and found that the health of most pension plans in the province continues to improve despite challenges with high

The Financial Services Regulatory Authority of Ontario (FSRA) has initiated enforcement action against Murteza Mohamedali (Mohamedali). FSRA is proposing to revoke the licence and impose administrative penalties in the total amount of $50,000 on Mohamedali. FSRA alleges that Mohamedali is no longer

FSRA is carrying out further consultation on its proposed Assessments and Fee Rule (Fee Rule), specifically relating to fees for the New Self Regulatory Organization (SRO). FSRA is proposing an amendment to the Fee Rule that, if approved, would reduce New SRO’s fees, recognizing that the Ontario

In August 2022, pursuant to an Order of the Ontario Superior Court of Justice (the “Court”), KPMG Inc. was appointed as the liquidator (the “Liquidator”) of PACE Savings & Credit Union Limited (“PACE”). By virtue of the appointment of the Liquidator, FSRA ceased being the administrator of PACE and

Through market conduct supervision and enforcement activities, The Financial Services Regulatory Authority of Ontario (FSRA) is working to ensure life and health insurance agents are compliant with legislation, regulations, and that they are working to achieve fair outcomes for customers. In 2021-22