Building a Foundation for Regulatory Effectiveness
FSRA’s Focus on Burden Reduction in Year 1 Yields Measureable Results
Since its launch, the Financial Services Regulatory Authority of Ontario (FSRA) has taken significant steps towards regulatory transformation that will reduce regulatory burden and protect the public interest.
Progress achieved to date includes:
- Reviewing over 1,000 pieces of inherited regulatory guidance and maintaining only those that are relevant and necessary, resulting in a 51% overall reduction;
- Streamlining data collection and filings by eliminating requirements for unused/underutilized data and filings; and
- Developing a new service standard framework that will help ensure the consistent delivery of timely and predictable regulatory activities.
Download the full report:
Burden Reduction Progress Update (March 2020)