ID
2022-015

Type
Règle
Secteur
Intersectoriel
État
Période de commentaires du public terminée
Date
28 novembre 2022
Date de remise des commentaires
27 février 2023

Nous vous remercions d’avoir fourni des commentaires sur la proposition de l’ARSF règle sur les droits.

Nous sommes heureux des commentaires et des questions reçus jusqu’ici. Vos commentaires nous seront utiles pour l’établissement de la version définitive de notre règle. 

La période de commentaires est maintenant terminée.

L’ARSF propose des modifications à la règle qui régit la façon dont elle impose des cotisations et recouvre des droits auprès des secteurs qu’elle règlemente. Ces modifications servent à respecter la vision et les principes sur lesquels repose la règle sur les droits et cotisations de l’ARSF mise à jour, tels que l’équité, la cohérence et la transparence.  

La règle sur les droits et cotisations proposée maintiendra un fardeau administratif réduit, permettra de s’assurer que les secteurs assument leurs propres dépenses, et aidera les entités réglementées à mieux comprendre comment les droits payables sont calculés.

L’ARSF apporte ces modifications pour veiller à ce que les droits reflètent de façon appropriée et avec exactitude les efforts et les activités réglementaires requis afin d’améliorer la protection du consommateur.
 
L’ARSF s’est engagée à réexaminer et à réviser la règle sur les droits et cotisations de 2019 trois ans après son entrée en vigueur.

En vue de garantir un processus ouvert et transparent, l’ARSF lance des consultations auprès du public sur une période de 90 jours.

L’ARSF sollicite actuellement les commentaires de tous les intervenants sur la règle proposée 2022 – 001 COTISATIONS ET DROITS. La période de consultation prend fin le 27 février 2023.

Liens utils :

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Secteur Commentaire Date
Planificateurs financiers et conseillers financiers
[2022-015] NA - New Self-Regulatory Organization of Canada
Intersectoriel
[2022-015] Julie Nolette - Intact Insurance
Planificateurs financiers et conseillers financiers
[2022-015] Mauro Lagana - Canadian Bankers Association
Régime de retraite
[2022-015] Jason Vary - Actuarial Solutions Inc.
I believe that it should be perfectly acceptable that larger pension plans somewhat subsidize smaller pension plans. Certainly, a minimum fee makes sense regardless of the plan size, but in an effort to reduce barriers to pension coverage, I would think that this is a reasonable compromise. In addition, there should be a separate much lower fee schedule applicable to DC plans; however, even if free, I’m not sure that the payroll tax savings of a DC plan would offset the burden of increased regulation (Form 7s, AIRs, etc.) and the reality is that DC plans are simply unattractive compared to other alternatives such as Groups RRSP/DPSP programs.

Further details can be found in my blog:
https://www.actuarialsolutionsinc.com/2023/02/06/good-news-bad-news-from-fsra/
Courtage d’hypothèques
[2022-015] rodney sintes - centum
I am writing to thank you for creating a standard of excellence for the mortgage industry which i am proud to be a part of .As the current market rates change and customers of our industry are faced with the traumatic reality that they may lose their life savings and the roof over their heads. leads us to the reality that the well is running dry for us as well it seems only fitting that there be a deferral or reduction on fees charged to your loyal members as we are struggling to make it in this environment. Help your members and reduce fees till we get our lives back on track thankyou
Fournisseurs de services de santé
[2022-015] Garima
Hello
You should Consider increase fee for Healthcare services , as its not been changed since 2014 , the current fee guidelines are way cheaper than regular prices than prices as per current time.
Assurance vie et maladie
[2022-015] Roberto Ciarallo
Hello,
Here's my feedback on increasing the rate of life insurance license from $150 to $170 every two years.
No thank you. I'm sure FSRA can find the money elsewhere.
Fournisseurs de services de santé
[2022-015] Dr. Simone Billing
I'm curious as to FSRA's plan to make compensation for psychological services on par with the typical hourly rate in the province. I will have to assess in the coming new year if it will be possible to continue working with FSRA due to the significant discrepancy. $149.61 is quite lower than $200. Please advise.
Courtage d’hypothèques
[2022-015] Karen Filice - Cirrius Finance Corp.
I find these fees ridiculously high. As a mortgage broker who is also a real estate broker - on the real estate side we have just been informed of a reduction in our fees to RECO. A welcome announcement. FSRAO on the other hand does no more monitoring - in fact less, than RECO but charges double. Ridiculous.
Planificateurs financiers et conseillers financiers
[2022-015] Stephen Wiffen - RBC Wealth Management Financial Services
Good day,
I just renewed my Advocis membership yesterday and they collected the fee even though you are accepting comments into the new year. My view is that those of us who hold the professional designations you are assessing worked hard to earn the designation and pay fees to continue to hold it. If it is FSRA's position to have us in the industry (38 years and counting) hold ourselves out as professionals, shouldn't the fee be assessed to a licensed insurance agent who does NOT hold a designation rather than those of us who do hold out as professional? Personally, I feel FSRA has this backwards. Thoughts?
Thanks,
Steve
Assurance vie et maladie
[2022-015] Mark Matsumoto
I don't know exactly what you do and what's involved but there is a huge backlog that screwed up the insurance side of my business because my license didn't get renewed properly..
Therefore we're paying for something that's not working properly. How much should one pay for something that is broken?
1
Régime de retraite
[2022-015] David Keeling - 2012869 Ontario Inc.
I am a retired police officer and my corporation is an Independent Pension Plan registered in 2002 I have been assessed fees by the Ontario Financial Services Regulatory Authority each year since registered. My pension fund was transferred from OMERS.
I do not receive any benefits from the FSRA and it obvious that this is basically a cash grab from the Ontario Government. This became more apparent when the fees were more than doubled annually two years ago. There have been some adjustments made to these fees but is is still ostensibly an unwarrented and excessive tax.
It is difficult enough to enjoy a retirement as a fixed income pensioner. It is about time that someone started paying attention to senior citzens who have payed taxes all of their income earning years , only to be require to pay additional fees for a service that provides no bebefits.
Courtage d’hypothèques
[2022-015] Michael Perretta - Assured Mortgages
Since the new system was implemented, fees have more than doubled. Inflation has NOT doubled, why the huge increase in fees? Is it possible that HUGE inefficiency in administering the ACT.....a good system for registration of members & protection of the public interest does NOT have to cost double!
As an MBA, CPA, CFP, Real Estate Broker & Mortgage Broker, I pay enough fees to maintain my licenses to earn a living.....perhaps a COST/BENEFIT analysis should have been done before implementation of of changes!
Régime de retraite
[2022-015] Brad Thompson - Victim Services of Middlesex-London
I believe that you are asking for comments, perhaps about the proposed changes however I will take this opportunity to state how cost prohibitive your fees are to small non-profit agencies that are attempting to provide an attractive compensation package to our 8 employees. Our Board of Directors voted in 2017 to begin a pension plan for our staff. Since we have only 8 employees our unexpected annual fee of $750 is excessive. If this fee was known in 2017 I suspect that other compensation alternatives would have been explored instead of creating our own small pension plan through a carrier. I believe that this annual fee should be re-examined for small non-profit organizations like ours and if possible eliminated of significantly reduced. Brad Thompson - Executive Director
Secteur Question et réponse
Courtage d’hypothèques

Question: Can you please advise the basis of the incremental fee increases for the Mortgage Administrator's license for the first, second and third assessment periods after the Rule comes into effect? These are respectively, $1,344, $1,847 and $2,350. These are significant increases and I would like to understand what is driving this? Thank you.

FSRA réponse:

Increased fees for mortgage administrators are proposed due to FSRA increased supervisory costs stemming from these entities taking on increased duties and responsibilities.
Assurance vie et maladie

Question: current rate is $150 for license good for two years...appears to be going up to $170...why?

FSRA réponse:

The cost of regulating the sector has gone up over that last few years. This includes increasing licensing costs and creation of a dedicated agent supervision team. The fee has not been adjusted since at least 1995.
Courtage d’hypothèques

Question: What is the new proposed fee for mortgage agents and brokerages? The documents provided in this link do not clearly state what the new proposed fee is.

FSRA réponse:

Annual fee for Mortgage Agent Level 1 licence is $841, Mortgage Agent Level 2 licence is 883, and  Mortgage brokerage licence is $883. For new applicants, the annual fee is prorated and there is an addition fee of $100.

Please refer to section 6.2(3) and 6.3(5) of the Proposed Fee Rule.
Courtage d’hypothèques

Question: When I reviewed the broker licence fee & agent level 1 & 2 , I did not see any reference as to the cost of the new category which permits a broker to deal with private mortgages.

FSRA réponse:

The increase in the Broker Fee has been aligned with the proposed fee for Agent level 2, $883 Annually.
Fournisseurs de services de santé

Question: Can you tell me when the professional services guidelines for health care providers will be reviewed? It is my understanding that the last review was in 2014. The industry is losing many qualified providers because the pay rates are so low and haven't been raised in 8 years. Health Care providers working in other industries (private, hospital, school, etc) get regular raises to compensate for inflation. When will the same apply to those working in the motor vehicle accident world? This is referring to the Superintendent Guideline 03/14.

FSRA réponse:

FSRA’s primary focus is consumer protection and regulatory efficiency. FSRA is committed to supporting the government’s objectives for auto insurance and the supervision of Health Service Providers. You can read more about FSRA’s Health Service Provider Supervision Plan on our website: Taking steps to ensure health service providers comply with the law

When FSRA is in a position to review the Professional Services Guideline, we will obtain input from stakeholders about how to best serve Ontario consumers and injured claimants.