The Financial Services Regulatory Authority of Ontario (FSRA) is responsible for supervising and regulating a broad range of financial service sectors. FSRA issues guidance to make it easier for the public, new entrants and incumbents to understand what is legally binding, what is FSRA’s interpretation or application of law and what information is designed to be helpful. All guidance is issued in accordance with FSRA's Guidance Framework.
When FSRA assumed the regulatory duties of the Financial Services Commission of Ontario (FSCO) and the Deposit Insurance Corporation of Ontario (DICO), it inherited all guidance issued by these legacy regulators. FSRA conducted an initial review of this material to identify which guidance needs to remain active. Through this process, FSRA reduced its total active guidance by approximately 40 per cent.