Announcements

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

FSRA releases 2023 Consumer Advisory Panel Annual Report FSRA’s Consumer Advisory Panel provides a consumer perspective to help inform the regulator’s work and deliver on its vision of financial safety, fairness and choice for Ontarians. The panel meets regularly and offers advice on FSRA’s

Ontario's financial services regulator, FSRA, has initiated enforcement action against Forest City Funding Inc. (FCF) and William Handsaeme (Handsaeme). FSRA alleges that FCF contravened the Mortgage Brokerages, Lenders and Administrators Act, 2006 (Act) and its regulations as follows: By giving

On behalf of the FSRA Board, the executive and staff, I want to congratulate CEO Mark White on his nomination for Chair of the Ontario Energy Board. The appointment must be reviewed by the Standing Committee on Government Agencies and we wish him all the best as the appointment works its way through

We are pleased to send you the May 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 has refused the mortgage agent licence of Dewan Ahmed (“Ahmed”). Ahmed is not suitable to be licensed as a mortgage agent because Ahmed made a false statement and has provided false information with respect to the application for the license. Ahmed’s past