Consumer Advisory Panel members

Laura Tamblyn Watts, Chair
Harvey Naglie, Vice-Chair
Sharon Altman-Leamen
Kristina Booi
Rhona DesRoches
Zahir Dharsee
Harold Geller
Julie Kuzmic
Krysta Nesbitt
Chris M Robinson
Udia Umoette
Todd White


Lucy Becker

FSRA staff / presenters

Mark White, Chief Executive Officer 
Glen Padassery, EVP, Policy
Judy Pfeifer, Chief Public Affairs Officer
Stuart Wilkinson, Chief Consumer Officer
Dan Miles, Director, Corporate Communications
Daniel Padro, Director, Policy – Credit Union and Insurance Prudential
Sharon Laurie, Director, Communication Services
Stephanie Appave, Director, Innovation
Amber McNair, Senior Manager, Credit Union Policy
Stephanie Windsor, Senior Manager, Public Affairs
Diana Green, Senior Policy Analyst, CO
Fern Karsh, Senior Policy and Technical Lead, CO
Jisha Sarwar, Senior Policy and Technical Lead, CO
Francina Contreras Gómez, Policy Analyst Co-op, CO
Leanne Westcott, Executive Assistant, Policy
Olivia Lee, Administrative Coordinator, Policy
Leticia Cooper, Communications Officer, PA


  • FSRA proposed an approach to the Panel’s work plan for its 2023-24 term based on previous input from the Panel members.
  • Panel members proposed topics to be discussed at the meeting with FSRA’s Board of Directors on May 3rd, 2023.
  • FSRA provided an update of the results of recent education campaigns.
  • Panel members presented an update from the Segregated Funds Working Group.
  • Panel members presented an update from the new Unclaimed Deposits Working Group.

Item 1: Welcome and introductory

  • FSRA welcomed all Panel members and provided an overview of the agenda.
  • The Panel Chair introduced the new Vice-Chair of the Panel.
  • FSRA provided an update on the status of the 2022 CAP Annual Report – content has been finalized and target date for posting is April 2023.

Item 2: 2023-24 term planning

  • The Panel discussed a tiered approach to engagement in the 2023-24 work plan. The proposal aimed at enhancing Panel members' involvement in FSRA's policy and supervisory activities at different levels of the process.
  • FSRA provided a proposed schedule of topics to be included in Panel meetings in the 2023-24 term.
  • FSRA committed to send a notice to all Panel members of any public consultations.

Item 3: May 3rd board update planning

  • FSRA highlighted that the Board would be interested in hearing any concerns from the Panel, covered or not covered by FSRA’s mandate, and what FSRA’s future priorities should be based on the Panel members’ assessment of future risks of consumer harm.
  • Panel members expressed concern regarding the inflection point moving from low inflation/low interest rates to high inflation/high interest rates in Ontario. Panel members expressed that this will inevitably result in problems with loans, mortgages, affordability, etc. Panel suggested that FSRA consider a number of issues and opportunities in context of that inflection point:
    • Focus on consumer empowerment through knowledge (topic raised with Board in 2022), including raising FSRA’s public profile and awareness in 2023-24 to inform consumers where to go with their issues.
    • Consumer education campaign for late 2023 or early 2024 on auto insurance, specifically regarding Direct Compensation – Property Damage (DCPD) given the opt-out option coming to consumers for the first time in January 2024.
    • Disclosure of information related to DCPD options for consumers obtaining insurance online. 
    • Sustainability of the Pensions Benefit Guaranty Fund (PBGF), and to raise its protection levels.
    • Review the complaints handling process and forms, define clear requirements and access accessibility.
    • Opportunity to consider if education standards for Financial Planner and Financial Advisor titles should be increased based on an evaluation of education options currently available.
    • Raise awareness on risks to vulnerable consumers seeking services from alternative financial facilities, financial counselors, and consumer lending. 

Item 4: Educational campaigns update – All campaigns

  • FSRA provided an update of the results of all Educational Campaigns conducted by FSRA over the last few months, including:
    • Financial Planners/Financial Advisors 
    • Pension Awareness Day 
    • Deposit Insurance Reserve Fund (DIRF) 
  • Panel members congratulated FSRA on its work with the different Educational Campaigns. They admired the level of creativity, content, and media used to reach relevant consumers.
  • Panel members encouraged FSRA to use different social media platforms to promote the Educational Campaigns to reach a bigger population. 
  • Panel members expressed concern regarding awareness, suggesting that Educational Campaigns raise awareness related to where can consumers go when they have issues, and that information can be lost if it is not quickly translated into action.
  • FSRA acknowledged the observations and concerns and will take them into consideration for the next Educational Campaigns

Item 5: Segregated Funds Working Group

  • Working Group members presented an update on the Segregated Funds Working Group, specifically on the Deferred Sales Charges (DSC) Rule (UDAP) Submission and the Canadian Council of Insurance Regulators (CCIR)/Canadian Insurance Services Regulatory Organizations (CISRO) Incentives Management.
  • Panel members expressed concern on the existing gap in the fair treatment of consumers guideline with the current incentive practices.
  • FSRA staff and other panel members, acknowledged the work the Segregated Funds Working Group is doing.

Item 6: Unclaimed Deposits Working Group

  • A working group member presented an update on behalf of the new Unclaimed Deposits Working Group.
  • FSRA staff and other Panel members acknowledged the work the Unclaimed Deposits Working Group is doing.

Item 7: Closing remarks

  • FSRA thanked all Panel members for attending the meeting and their contributions.