Consumer Advisory Panel Members

Anish Chopra
Rhona DesRoches
Hitesh Doshi
Roger Gauthier
Harold Geller
Robert Gouley

Special Guests

Lucie Tedesco

FSRA Management and Presenters in Attendance

Huston Loke – EVP, Market Conduct
Glen Padassery – EVP, Policy and Chief Consumer Officer
Judy Pfeifer – Chief Public Affairs Officer
Erica Hiemstra – Head, Market Conduct – Insurance Conduct
Antoinette Leung – Head, Market Conduct – Financial Institutions and Mortgage Brokerage Conduct
David Bartucci – Director, Policy – Pensions
Bruce Green – Director, Auto/Insurance Products – Rates Operation
Victoria Lesau – Director (Acting), Policy – Auto/P&C
Daniel Padro – Director, Policy – Credit Union
Taryn Pimento – Director, Policy – Consumer Office
Swati Agrawal – Senior Manager, Market Conduct – Licensing and Market Conduct Division
Mark Eagles – Senior Manager, Pensions – Pension Policy
Chris Georgakopoulos – Senior Manager, Policy – Credit Union
Bradley Hodgins – Senior Manager, Credit Union and Prudential – Policy and Research
Heather Kay – Senior Manager, Policy – Strategic Policy
Robert Prior – Senior Manager, Market Conduct – Life & Health Insurance Agents
Jonas Schwab-Pflug – Senior Manager (Acting), Policy – Auto Reform
Fern Karsh – Senior Policy & Technical Lead, Policy – Consumer Office
Joshua Lerner – Senior Policy Analyst, Policy – Credit Union


  • The Panel and FSRA discussed a number of topics from the Panel’s 2021 Work Plan, as well as additional items of interest.
  • The Panel and FSRA had an initial discussion regarding FSRA’s (upcoming) 2022-23 Statement of Priorities.
  • A scheduled agenda item for this meeting, Credit Union Market Conduct Framework (MCF) Guidance and Complaints Resolution, was removed due to time constraints and will be discussed with the Panel  by email.

Discussion Topics of Focus

Welcome and Meeting Overview

  • FSRA welcomed Panel members to the fourth official Consumer Advisory Panel meeting of the 2021 term.
  • FSRA provided a brief overview of the agenda for the meeting.

Consumer Disclosure Framework

  • FSRA provided an overview of its work to develop a consumer disclosure framework, including the:
    • objective of the framework;
    • design and development process; and
    • framework’s principles.
  • The Panel and FSRA discussed a number of topics, including the:
    • current application of the principles-based and cross-sectoral policy framework in FSRA’s policy development;
    • potential sharing of FSRA’s research and framework with more stakeholders; and
    • considerations for FSRA regarding the framework’s principles as the framework is piloted and refined.

Pension Member Communication and Engagement

  • FSRA presented its potential streams of pension member communication and engagement work for 2022-23, including work on:
    • The importance of a pension and the consumer journey towards and during retirement; and
    • How plans communicate and engage with plan members.
  • FSRA sought feedback from the Panel on next steps for this initiative, including the appropriate forum to collaborate with stakeholders (e.g., working group).
  • The Panel was supportive of the overall direction of FSRA’s work and encouraged FSRA to explore opportunities to collaborate with peer regulators and industry.

FSRA 2022-23 Protect the Public Interest Priority

  • FSRA provided a preliminary overview of the cross-sectoral priority for 2022-23, and the proposed direction for key deliverables and projected outcomes .
  • The Panel encouraged FSRA to consider the topic of enforcement in the Statement of Priorities, in the context of FSRA’s commitment to protect the public interest.
  • FSRA committed to returning to the Panel in the fall to consult on the entire proposed 2022-23 Statement of Priorities.

Auto Rating and Underwriting Regulation Reform Strategy

  • FSRA offered an overview of its Auto Rating and Underwriting Regulation Reform Strategy. FSRA sought feedback from the Panel on:
    • The consumer focus of the strategy, including its vision, rationale, and outcomes; and
    • Potential consumer engagement on the strategy.
  • The Panel discussed an array of topics, including:
    • The importance of ensuring that the issue of fair outcomes for injured individuals is reflected in the strategy;
    • Organizations that FSRA should engage on the strategy; and
    • The issue of risk (e.g., who should be bearing certain types of risks and under what circumstances) in the auto insurance system.

Life Agent Report Form Summary Report

  • FSRA offered an overview of its 2020-21 Life Agent Reporting Form (LARF) Report highlights, including the total number of LARFs received and the total number of LARFs escalated.
  • FSRA introduced its Life & Health Insurance Agent team, the team’s responsibilities, and some of the team’s current initiatives.
  • The Panel expressed support for the overall direction of FSRA’s work in this area and interest in being updated on progress.

Credit Union – Strength of Sector

  • FSRA provided information on the Deposit Insurance Reserve Fund (DIRF) and Ontario credit union access to emergency liquidity.
  • FSRA answered questions from the Panel, including how often the DIRF is used and how FSRA differentiates between a liquidity crisis and solvency crisis.

Next Steps

  • FSRA committed to following up with the Panel to discuss next steps, including the possibility of the Panel participating in the MCF Guidance consultation.
  • The Panel’s next meeting is scheduled for September 30.