FSRA is currently accepting applications for grant funding from October 12, 2023 until January 12, 2024.
FSRA awards grants for consumer education initiatives or research that focus on financial literacy or awareness, or initiatives that strengthen the knowledge of those doing business in the sectors we regulate.
Prior to submitting a proposal for funding, we encourage applicants to read through the information below as well as our Use of Proceeds from Enforcement Guidance. The Guidance includes important information on process, eligibility, costs and additional information that potential applicants should become familiar with prior to submitting a proposal.
FSRA intends to use the Proceeds from Enforcement to fund initiatives that are consistent with the purposes set out in the Regulation. These include:
- funding research or educational initiatives to enhance financial literacy, financial awareness, knowledge of rights and obligations or the informed decision making of consumers or pension plan beneficiaries
- funding research or educational initiatives that:
- enhance the knowledge or understanding of persons or entities carrying on business in the regulated sectors, including activities, operations, regulatory obligations, or market trends in the regulated sectors
- have the goal of:
- improving the protection of consumers
- protecting and safeguarding the pension benefits and rights of pension plan beneficiaries
- promoting the good administration of pension plans
- improving compliance by persons or entities carrying on business in the regulated sectors
- enhancing knowledge or information about the regulated sectors
FSRA encourages entities who have the following elements, and who also have an eligible initiative in accordance with the required purposes of the Regulation, to apply for a Grant:
- not-for-profit organization structure
- incorporated in Ontario or Canada for at least one year
- for education projects, entities with reach across an industry or broad reach to consumers, or to certain consumer groups, such as vulnerable consumer groups or demographics
- entities with accountability procedures to administer, manage and oversee any funding it receives from FSRA
- Entities who maintain appropriate insurance coverage. Note that “appropriate” insurance coverage is determined by FSRA in its discretion by considering, amongst other circumstances and factors, the nature of the event being funded by Proceeds of Enforcement.
As an applicant, your proposal should include:
- Project name
- Project lead name and title
- Dollar amount of grant requested
- Project duration
- Type of project
- Problem statement and supporting evidence
- Project focus, goals and description
- Explanation of alignment with Ontario Regulation 554/21
- Target audience
- Impact on diverse, underrepresented or vulnerable populations
- Any partnerships with co-applicants, related details and rationale
- Marketing and distribution / reach and engagement
- Impact / performance measurement
- Proposed plan for reporting to FSRA on progress and results
In assessing eligible initiatives’ merits, the evaluation committee will consider the following attributes, and any additional ones that FSRA may, in its discretion consider relevant:
- ability to deliver, with a substantiated practical and detailed plan for initiative deliverables
- ability to deliver broadly to networks of industry or consumers
- understanding of challenges related to the sector(s) FSRA regulates
- track record of relevant experience or expertise to effectively develop the initiative
- offers a credible and feasible approach for reaching the intended audience(s)
- ability to deliver on time and on budget
- benefit to target audience beyond funding period and over the longer term
- access to relevant expertise related to FSRA sectors
- addresses a key FSRA priority
How to apply
Eligible applicants who have reviewed FSRA’s Use of Proceeds from Enforcement Guidance and who wish to apply should submit their proposal to [email protected]
If you have questions about FSRA’s grant funding that aren’t addressed in the Guidance or on this page please contact [email protected].
Consideration by FSRA as to whether to accept and fund proposals during any given year will be in FSRA’s discretion and may depend on several factors including, without limitation, the availability of Proceeds from Enforcement that have not already been allocated; FSRA’s plans (including annual plans); as well as the eligibility and quality of proposals received.
Grant funding may be a shared-cost program. For example, we may award 75% of total project costs while applicants contribute 25% of total project costs in cash or in-kind.