Engaging with our industry partners, consumers (including pension plan beneficiaries and credit union members), and other stakeholders is an integral part of the regulatory process and a key element of the FSRA mandate and business plan. We take a transparent and collaborative approach to engagement and ensure that the diverse voices of our constituent stakeholders inform our direction and decision making.
A collaborative approach to industry regulation
As a regulator, staying ahead of change in consumer markets is essential to our operations. By engaging with industry experts and consumers on a regular basis, we can respond quickly to new technologies, rules and consumer trends, ensuring the integrity and growth of our regulated industries.
In May 2019, we conducted a stakeholder survey to capture the current needs of our key stakeholders. We received 2,667 survey responses. Our stakeholders highlighted the importance of having consultations throughout the year and recommended that these consultations be separated by sector. Our stakeholders also stressed the importance of FSRA reporting on the outcomes of committee sessions and on how feedback was considered.
Active and Past Consultations
We continue to actively consult and engage with our stakeholders on a variety of issues. View our active and past consultations.
Stakeholder Advisory Committees (SACs) serve as consultation bodies to the FSRA Board on FSRA's priorities and budget and other matters as the Board deems appropriate. They are an important part of FSRA's stakeholder engagement process.
You can find more information about each committee by following these links:
- Property and Casualty (P&C) Insurance
- Life and Health Insurance
- Mortgage Brokering
- Health Service Providers
- Credit Unions
Consumer Advisory Panel
FSRA’s Consumer Advisory Panel provides a consumer perspective to help inform FSRA’s work. Working closely with our Consumer Office and executive team, the Panel advises FSRA on proposed policy changes and related activities, including consumer-based research, policy support and consumer outreach. It helps to ensure that the perspectives of consumers (including pension beneficiaries, credit union members and the general public) inform our direction and decisions, a key priority for FSRA.
Visit the Panel’s webpage to find more information about its activities, membership and Terms of Reference.
Technical Advisory Groups
Technical advisory groups and committees provide advice, input and feedback to FSRA management on matters related to the Rules of Practice and Procedure, Filing Requirements, Guidelines, operational policies and other matters.
Ad-hoc Technical Advisory Committees
Ad Hoc Technical advisory committees are short term committees created to provide FSRA with expert advice on specific topics of importance to the sector. These committees will dissolve, once their work is completed.
- Technical Advisory Committee for Identifying and Strengthening the Supervision of Actively Monitored Plans
- Technical Advisory Committee for Missing Members in the Pension Sector
- Technical Advisory Committee for Asset Transfers
- Technical Advisory Committee for Family Law Pension Matters
Technical Advisory Committee for Transforming Auto Insurance Rate Regulation
In December, FSRA issued a call for applications to our new Technical Advisory Committee for Transforming Auto Insurance Rate Regulation.
The Advisory Committee will provide expert recommendations for changes to the current approach to rate regulation, including legal requirements and opportunities for FSRA rule-making, regulatory guidance, and operational processes.
Visit the Technical Advisory Committee's webpage to find more information about its activities, membership and Terms of Reference.