Announcements

To better protect credit union members and depositors and enhance public confidence in the sector, the Financial Services Regulatory Authority of Ontario (FSRA) is releasing its final Resolution Planning Guidance. The Guidance helps ensure large credit unions with over $1 billion in assets have a

The Financial Services Regulatory Authority of Ontario (FSRA) issued an order imposing a compliance order and administrative penalties in the total amount of $5,000 on Peter Maccabe and $10,000 on 2070375 Ontario Inc. o/a McGill Health Services. Peter Maccabe and McGill Health Services failed to

The Financial Services Regulatory Authority of Ontario (FSRA) is releasing final guidance to inform the public about the ways it can use and administer money collected from penalties, enforcement orders and settlements. Under Ontario regulation the regulator can use these funds for funding research

To protect consumers, FSRA has put in place a rigorous licence qualification process to help ensure that only suitable people may sell or offer financial products and services in Ontario. In order to improve the processing times of licence applications in the mortgage brokering and insurance sectors

The Financial Services Regulatory Authority of Ontario (FSRA) is releasing its 2022-2025 Annual Business Plan (ABP), which sets out its strategic direction, priorities and financial plan for the next three fiscal years. The priorities outlined in the Annual Business Plan focus on consumer protection

The Financial Services Regulatory Authority of Ontario (FSRA) revoked the mortgage agent licence of Millicent Prince. Millicent Prince was found to be not suitable to be licensed as a mortgage agent as per sections 10.1 and 10.3 of O. Reg. 409/07. FSRA issued this order as a result of a decision of

The Financial Services Regulatory Authority of Ontario (FSRA) is supporting the government’s direction to introduce a new licence class for mortgage agents in Ontario and to enhance education and experience requirements for the mortgage brokering sector. “The new requirements will better protect

FSRA is committed to supporting its stakeholders by providing them with clear and concise information and the tools they need to successfully comply with the Financial Professionals Title Protection Framework. FSRA will be hosting a live webinar on April 21, 2022, to provide details and answer

Since FSRA launched in June 2019, a key focus has been to assess risks and to build frameworks and resources so we can deter deceptive and fraudulent financial services practices and protect consumers. This update highlights how this focus has manifested itself in the area of syndicated mortgage

The Financial Services Regulatory Authority of Ontario (FSRA) issued an order imposing administrative penalties in the total amount of $280,000 on Kaleido Financial Ltd. and $55,300 on David Martino. Kaleido Financial Ltd. (Kaleido) was the mortgage brokerage on six syndicated mortgage investment