ID
2023-014
ID
2023-014
Type
Rules
Sector
Pensions
Status
Public comment closed
Date
Comment Due Date
Thank you for providing your feedback on FSRA’s proposed Family Law Rule.
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 Rule. Stay up to date on FSRA’s Rules on our newsroom. Follow us on LinkedIn and subscribe to our mailing list for quick updates.
Summary
The Financial Services Regulatory Authority of Ontario (FSRA) is consulting on a consultation paper which considers changes relating to areas of family law and the potential benefits of developing a rule.
The consultation paper outlines the desired outcomes of a potential rule, which include:
- reducing uncertainty concerning certain administrative and technical matters
- improving efficiency in the valuation and division process
- providing appropriate flexibility to spouses and plan administrators
- ensuring fairness between different stakeholders
FSRA is inviting sector stakeholders and the public to submit feedback by January 19, 2024.
Outcome of stakeholder consultation
Background
FSRA received 12 submissions on the Potential FSRA Rule on Family Law Matters Consultation Paper during the public consultation period.
FSRA is thankful for the feedback provided from all stakeholders who made submissions. Feedback from both the public consultation and the special purpose Family Law Technical Advisory Committee (TAC) were important considerations in FSRA’s analysis as to whether the above desired outcomes can be achieved through a FSRA rule.
Outcomes
Based on the consultation feedback received, FSRA has decided not to pursue developing a Family Law Rule at this time. Based on stakeholder feedback, it was determined that many of the proposals discussed in the paper were administrative in nature and would not be optimally addressed by a potential rule. Alternatives to rule-making will be explored to consider some of the administrative changes.
Learn more:
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