ID
2020-012

Type
Policy
Sector
All Sectors
Status
Open
Date
Comment Due Date

Service standards are essential to good public service. They reflect a pursuit of a measurable level of performance, which stakeholders can expect under normal conditions. FSRA has created standards to set clear service expectations and targets, and it is holding a public consultation to seek feedback on its proposed standards.

By creating effective service standards, FSRA will be able to use the quarterly results to improve its public service. The reporting process will help to ensure efficient and transparent practices. FSRA plans to report its first set of results in January/February 2021.

The consultation will close on October 23, 2020.

#By submitting your content, you agree to have your materials posted on our engagement portal, used in reports and other materials prepared by Financial Services Regulatory Authority of Ontario (FSRA) that may be shared with the public. Content is moderated so that all posts are respectful and professional. The Freedom of Information and Protection of Privacy Act, R.S.O. 1990, c.F.31, applies to all online content.

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Sector Comment Date posted Sort ascending
Other
[2020-012] John Taylor - Ontario Mutual Insurance Association
Please find attached the Ontario Mutual Insurance Association's submission with regards to FSRA Service Standards.
October 16, 2020
Pension Sector
[2020-012] Real Gagne - iA Financial Group
45 days to respond to Inquiries (plan specific, non-plan specific and general) is not reasonable
-- this is more than 2 months, and could even be more during Holidays.
-- Many statutory delays are below the 45 working days threshold: for delays that are below 60 days (actual days).

General inquiries need to be answered within 15 working days.


October 2, 2020
Mortgage Brokering Sector
[2020-012] Daniel Vyner - DV Capital Corporation
Dear FSRA:

Concerning licensing efficiencies in the Mortgage Brokering Sector, we'd like to humbly suggest that similar policies are executed for existing licensees that wish to transfer their license to another Mortgage Brokerage. Needless to say that this will ultimately expedite a quite common process for mortgage agents, mortgage brokers, and mortgage brokerages alike.
October 2, 2020
Credit Unions and Caisses Populaires Sector
[2020-012] Janet Grantham - Mainstreet
I am concerned that the target for the final report on examinations within 60 days is 65%, I understand that delays can happen but I would have liked to see this at a minimum of 80%
October 2, 2020
Date posted Sector Question and response
Auto Insurance Sector

Question: What mechanism you are planning to control Non License agents sitting in Tim Horton and all similar type of location. These people take cash money and putting innocent people in group insurance. Also there are insurance fraud going on by giving remote area address for low cost of insurance and people like us has to pay for that.

FSRA response:

Thank you for providing your input. Service standards reflect a pursuit of a measurable level of performance, which stakeholders can expect under normal conditions when interacting with FSRA. Service standards are not a regulatory or enforcement tool.  To report suspected instances of fraud or non-compliance by a regulated agent, please submit a complaint at www.fsrao.ca/ask-question-file-complaint-or-report-fraud.