Consultation on FSRA’s proposed amendment to Rule 2022-001 – Assessments and Fees

Thank you for providing your feedback on FSRA’s consultation on FSRA’s proposed amendment to Rule 2022-001 – Assessments and Fees.

The request for submissions is now closed.

We appreciate the comments and questions received to date and look forward to sharing with you the final Guidance. Stay up to date on Guidance releases on our newsroom. Follow us on LinkedIn and subscribe to our mailing list for quick updates.

As part of FSRA’s regulatory framework for life and health managing general agents (MGAs), FSRA will implement a new fee structure for MGAs in two phases:

Phase 1:

FSRA is currently consulting on a proposed amendment to the Fee Rule to introduce an application fee for an L&H MGA licence. FSRA encourages stakeholders to submit feedback on the amendment by December 19, 2025.

Phase 2:

FSRA will consult on additional amendments to establish licence renewal and regulatory fees, which will support recovery of start-up and ongoing regulatory costs. FSRA will communicate these updates in 2027-2028, allowing enough time to gather critical information about MGAs in Ontario. This will ensure additional fees are evidence-based and fair and are introduced after the transition period.

Learn more:

• FSRA’s proposed amendment to Rule 2022-001 – Assessments and Fees (Fee Rule)
• Notice of Change
• Consultation on FSRA’s updated proposed Rule 2025-001 – Life and Health Managing General Agents