Media Centre | Financial Services Regulatory Authority of Ontario

For media inquiries:

Russ Courtney
Senior Media Relations and Digital Officer
Financial Services Regulatory Authority
C: 437-225-8551
Email: [email protected]

Press releases:

2023

March 28, 2023: FSRA issues Notice of Proposal and Interim Suspension Order against First Swiss Mortgage Corp. and Reza Nezami-Nia
March 27, 2023: Taking Steps to Improve Consumer Protection
March 27, 2023: More Financial Advisors in Ontario to Have Their Credentials Officially Approved
March 24, 2023: FSRA issues Notice of Proposal and interim suspension order against Ian Vilafana and Valor Financial Corp.
March 21, 2023: FSRA issues compliance orders and imposes administrative penalties against Sobenna Green, Jermaine Scott and Pinyatas Lounge Inc.
March 20, 2023: Court appointment of receiver for First Swiss Mortgage Corp.
March 20, 2023: FSRA issues Notice of Proposal against Pritpal Sandhu
March 13, 2023: FSRA issues Notice of Proposal against Yogender Jain, Gold Standard Group Inc. and Daniel Emerson Tiffin
March 7, 2023: FSRA issues Notice of Proposal against Vineet Anand
March 1, 2023: Majority of Ontarians Believe Auto Insurance Fraud is Prevalent in the Province
February 28, 2023: Improving Consumer Protection and Confidence in Ontario's Insurance Sector
February 27, 2023: More Ontarians Expected to Get into Private Mortgages
February 23, 2023: FSRA Mortgage Specialist to Lead National Effort to Better Protect Consumers
February 22, 2023: FSRA issued compliance order against Mark Dennis Carter, Earthink Incorporated and Earthink GmbH
February 16, 2023: FSRA Launches its First Annual Pension Awareness Day
February 14, 2023: Majority of Ontario Pension Plans Remained Strong in 2022
February 6, 2023: More Should Be Done to Encourage Ontarians to Save for Retirement
January 31, 2023: FSRA issues Notice of Proposal against Daniel Conrado
January 26, 2023: New members appointed to FSRA's Consumer Advisory Panel to help inform the organization's direction and decisions
January 25, 2023: FSRA Strikes New Advisory Committee to Help Make Ontario's Auto Insurance System Better for Consumers
January 23, 2023: FSRA aims to improve Credit Union operational risk management and resilience to better protect Ontario consumers
January 23, 2023: Actively Guarding Against Cyber Threats to Better Protect Consumers
January 3, 2023: FSRA issues Notice of Proposal against Andrew Shaul Psychology Professional Corporation

2022

December 22, 2022: FSRA issues Compliance Order against Greatway Financial Inc.
December 22, 2022: FSRA continues implementation of FA/FP framework
December 19, 2022: FSRA Releases Updated Minimum Capital Test Guidance for Ontario P&C Insurers
December 06, 2022: Update on Relm Insurance Limited in Bermuda
November 28, 2022: Taking steps to ensure health service providers comply with the law
November 25, 2022: Public Feedback Sought on Proposed Changes to Deferred Sales Charges Investors are Required to Pay
November 23, 2022: FSRA Warns Consumers to Avoid Unlicensed Mortgage Broker in Ontario
November 23, 2022: Consultation opens for FSRA's proposed Differential Premium Score (DPS) Methodology for Credit Unions
November 22, 2022: Ontario consumers should avoid using Canada Lending Corp to obtain a mortgage
November 17, 2022: The financial health of Ontario's Defined Benefit pension plans remained stable in Q3 despite continuing economic uncertainty
November 16, 2022: FSRA releases final Guidance on requirements to take certain actions to avoid deregistration under the Income Tax Act
November 8, 2022: FSRA issues a compliance order and imposes administrative penalty against Mohammad Islam also known as Islam Mohammad
November 7, 2022: Poll finds the majority of Ontarians are turning to the Internet, word of mouth or social media to inform investment decisions
October 31, 2022: FSRA Resolves Hundreds of Complaints in its Regulated Sectors
October 31, 2022: FSRA refuses to renew the licence of Sanjay Pahuja
October 24, 2022: FSRA issues Notice of Proposal against Greatway Financial Inc.
October 13, 2022: Have your say on FSRA's proposed priorities
September 29, 2022: FSRA issues Notice of Proposal against Sudeep Sharma
September 28, 2022: FSRA Takes Action to Ensure Those in the Life and Health Insurance Sector Treat Customers Fairly
September 23, 2022: FSRA imposes administrative penalty against Elvira Montoya
September 20, 2022: FSRA is Assisting Auto Insurance Companies to Better Manage Risk and Offer Consumers Accurate Rates
September 15, 2022: FSRA issues Notice of Proposal against Mohammad Islam, also known as Islam Mohammad
September 13, 2022: FSRA issues Notice of Proposal against Mohd Tanvir and Satinder Kaur
September 9, 2022: FSRA suspends 106 health service provider licences for non-compliance
September 1, 2022: FSRA settles enforcement action with Chad E. Martin
September 1, 2022: CSI Approved for Financial Advisor Title Use in Ontario
August 31, 2022: FSRA Takes Action to Ensure Health Service Providers Fulfill the Duties of their Licence
August 30, 2022: FSRA issues Notice of Proposal against Daniel George Gordon and Gordon Wealth Management Limited
August 25, 2022: FSRA revokes the licence of Financial Ties Ltd. and imposes administrative penalties against Financial Ties Ltd. and Moninder Khudal
August 22, 2022: FSRA warns consumers that HonoUno is not a registered Credit Union in Ontario
August 18, 2022: FSRA Takes Steps to Improve Cybersecurity in the Mortgage Brokering Sector
August 16, 2022: Ontario's Defined Benefit Pension Plans Continue to be Healthy Despite Current Economic Trends
August 15, 2022: FSRA issues Notice of Proposal against Jay Sanjay Patel, Nirali Chandrakant Patel and Pratik Gohel
August 15, 2022: FSRA Seeks Public Feedback on Proposed Guidance on Requirements to Take Certain Actions to Avoid Deregistration Under the Income Tax Act
August 15, 2022: FSRA Seeks Public Feedback on its Proposed Guidance that Clarifies Requirements for Pension Plan Amendments to Protect Plan Members
July 28, 2022: FSRA Takes Steps to Ensure Ontario Homebuyers are Protected
July 13, 2022: FSRA refuses to issue a licence to Aman Maharaj
June 30, 2022: Exercise caution before using Relm Insurance Limited in Bermuda
June 30, 2022: FSRA issues Notice of Proposal against Saadia Ali, Amin Mohammad Ali and Anusha Financial Group Inc.
June 30, 2022: FSRA imposes compliance order on Canadian Life Settlements Inc.
June 27, 2022: FSRA issues Notice of Proposal against Susan Keshen and Michael Stoddart
June 27, 2022: FSRA issues Notice of Proposal against Aman Maharaj
June 21, 2022: FSRA imposes administrative penalties against Mark Dennis Carter
June 20, 2022: FSRA imposes administrative penalties against Harvinder Gill
June 17, 2022: FSRA issues Notice of Proposal against Elvira Montoya
June 16, 2022: FSRA imposes administrative penalties against Harjot Singh
June 16, 2022: FSRA refuses to renew the licence of John Willoughby
June 13, 2022: FSRA issues Notice of Proposal against Mark Dennis Carter
June 10, 2022: FSRA issues Notice of Proposal against Financial Ties Ltd., Moninder Khudal, Harjot Singh, and Harvinder Gill
May 31, 2022: FSRA Implements Temporary Measures to Support People Impacted by Ontario's Recent Severe Weather Event
May 18, 2022: FSRA revokes licence of Dinesh Khanna
May 17, 2022: FSRA imposes administrative penalties against Meerwise Wais Habibzi
May 17, 2022: FSRA imposes administrative penalty against Sandeep Singh Dhaliwal
May 4, 2022: FSRA approves third credentialing body to grant and oversee Financial Planner title use in Ontario
May 3, 2022: FSRA issues Notice of Proposal against Sanjay Pahuja
May 3, 2022: Exercise Caution Before Using General Invest Bank in Timmins
May 2, 2022: FSRA warns consumers about unlicensed operator Vip Sris offering mortgage brokering services in Ontario
April 29, 2022: Whistle-blower Program Introduced to Help Identify Misconduct in the Non-securities Financial Services and Pensions Sectors
April 29, 2022: The financial health of Ontario's Defined Benefit pension plans continues to improve in first quarter of 2022
April 28, 2022: FSRA Takes Steps to Balance Credit Union Growth with Member Protection
April 27, 2022: FSRA imposes a compliance order and administrative penalties against Peter Maccabe and 2070375 Ontario Inc. o/a McGill Health Services
April 27, 2022: FSRA Takes Steps to Ensure Large Credit Unions Have Plans in Place to Better Protect Their Members
April 26, 2022: Funding research and educational initiatives at FSRA
April 25, 2022: FSRA revokes the licence of Millicent Prince
April 21, 2022: Better Protecting Consumers with New Requirements for the Mortgage Brokering Sector
April 12, 2022: FSRA imposes administrative penalty against Oded Oliver Beer and amends agent's licence with conditions
April 12, 2022: FSRA imposes administrative penalties against Kaleido Financial Ltd. and David Martino
April 11, 2022: Two Credentialing Bodies Approved for Financial Planner and Financial Advisor Title Use in Ontario
April 7, 2022: Call for members for FSRA's Health Service Provider Stakeholder Advisory Committee
April 7, 2022: Health service provider licences revoked or suspended for not complying with licence requirements
April 6, 2022: Steps are Being Taken to Increase Public Trust and Confidence in Ontario's Insurance Sector
April 1, 2022: MBRCC publishes draft cybersecurity preparedness guidance for Canadian mortgage brokers
April 1, 2022: Proposed cybersecurity guidance will lead to better protection for those using mortgage brokering services
March 31, 2022: Consumers Warned to Avoid Using Credivo Financial Service in Ottawa to Obtain a Mortgage
March 29, 2022: New life and health agent supervisory framework enhances consumer protection
March 28, 2022: FSRA takes steps to enhance public confidence in the credit union sector and better protect consumers
March 23, 2022: FSRA approves Ontario's first new credit union in more than a decade
March 23, 2022: Ontario strengthens consumer protection by regulating who can use Financial Planner and Financial Advisor titles
March 21, 2022: Homeowners Across Ontario Need to be Aware of Door-to-Door Scams
March 11, 2022: FSRA warns consumers to avoid using an individual in Richmond Hill to obtain a mortgage
March 2, 2022: New Credit Union Rules Strengthen the Sector and Further Protect Depositors
February 28, 2022: Steps are being taken to provide consumers with greater protection and clarity when dealing with Financial Planners and Financial Advisors
February 25, 2022: New Reporting Requirements for Life and Health Insurance Agents Designed to Better Protect Consumers
February 18, 2022: FSRA imposes administrative penalty against Muhammad Bajwa
February 17, 2022: Drivers Encouraged to Shop Around When Purchasing or Renewing Their Auto Insurance
February 17, 2022: Guidance to Improve the Credit Union Sector Now Out for Public Consultation
February 16, 2022: The financial health of Ontario's Defined Benefit pension plans improved steadily in 2021
February 14, 2022: Public Feedback Sought on Aspects of the Pension Benefits Guarantee Fund
February 11, 2022: Proposed new licensing requirements to help mortgage agents and brokers better serve consumers and investors
February 4, 2022: FSRA submits its proposed credit union rules designed to strengthen the credit union sector to the Minister for approval
February 2, 2022: FSRA warns consumers to avoid using Aproov Mortgage
February 1, 2022: FSRA releases final guidance confirming the exemption of certain businesses from holding a mortgage brokerage licence
January 27, 2022: FSRA Encourages Financial Services Leaders and Consumers to Establish a Two-Way Dialogue
January 24, 2022: FSRA encourages and supports Innovation that benefits Ontario's financial services consumers
January 20, 2022: Call for members for FSRA Stakeholder Advisory Committees
January 19, 2022: FSRA Encourages Ontarians to Research Mortgage Options
January 14, 2022: FSRA proposes to strengthen consumer protection through its new Financial Professionals Title Protection Rule and Fees
January 11, 2022: FSRA introduces new measures to further protect Ontarians and improve public confidence in the financial services sectors

2021

December 20, 2021: FSRA Warns Consumers about Unlicensed Individuals Offering Automobile Insurance for cash in Ontario
December 8, 2021: FSRA Launches Auto Insurance Guidance to help ensure Consumers are Treated Fairly
December 7, 2021: FSRA takes steps to help detect and prevent mortgage fraud
November 8, 2021: FSRA affirms that automatic features in defined contribution pension plans are not prohibited by law
October 21, 2021: FSRA Releases its Innovation Framework for Public Consultation
October 19, 2021: FSRA identifies supervision focus in the health service provider sector
October 7, 2021: FSRA Seeking Feedback on its 2022-2023 Statement of Priorities
August 25, 2021: Ellite Cryptominer is not licensed by the Financial Services Regulatory Authority of Ontario to conduct securities business
August 18, 2021: FSRA seeks feedback on licence exemption guidance for mortgage transactions between sophisticated entities
August 5, 2021: FSRA publishes final guidance on mortgage brokering sector Code of Conduct
July 14, 2021: FSRA Releases its Revised Proposed Unfair or Deceptive Acts or Practices Rule for Public Consultation
July 8, 2021: Claims Help Center is not licensed to conduct public claims adjusting services in Ontario
June 29, 2021: FBC GROUP is not licensed to conduct mortgage business in Ontario
June 28, 2021: Kathryn Bouey Re-appointed to FSRA Board
June 28, 2021: FSRA Consultation on Credit Union Market Conduct Framework Approach and Interpretation Guidance
June 25, 2021: FSRA releases 2020-2021 health service provider compliance report
June 23, 2021: FSRA Issues Guidance on Bank of Canada Revisions to Real Return Bond Data
June 17, 2021: FSRA Imposes Administrative Penalties on John Moran and Lyon Financial Services
May 21, 2021: FSRA releases its strategic priorities and activities for the next three years
May 10, 2021: FSRA promotes high standards of insurance agent conduct to protect consumers
April 7, 2021: Capital Lending Financial is not licensed to conduct mortgage business in Ontario
March 10, 2021: FSRA Releases Final Guidance to Increase Regulatory Efficiency in Syndicated Mortgage Investments
February 9, 2021: Scott Satov and Loans Canada are not licensed to conduct mortgage business in Ontario
January 29, 2021: FSRA Is Releasing New Principles-based Guidance to Support Prudent Residential Mortgage Risk Management
January 27, 2021: FSRA Seeks Public Feedback on the Proposed Guidance on Recovery Planning--Consultation Opens Today
January 13, 2021: FSRA Announces New Member of Board of Directors
January 12, 2021: Islam Mohammad is Not Licensed to Conduct Mortgage Business in Ontario

2020

December 23, 2020: Mediation is proposed as next step for PACE Investor Claimants
December 22, 2020: FSRA announces a common approach to treating insurance customers fairly
December 14, 2020: FSRA working with the Ontario government to improve regulatory efficiency and effectiveness for the pension sector
December 14, 2020: David Finnie has been appointed CEO of PACE Credit Union effective December 21, 2020
November 27, 2020: FSRA proposes enhanced mortgage brokering conduct standards to protect consumers
November 20, 2020: FSRA Resumes Oversight of PACE Credit Union’s Day-to-Day Operations
November 6, 2020: FSRA warns the public about employment offers linked to buying life insurance
Octobler 27, 2020: FSRA Announces New Member of Board of Directors
Octobler 5, 2020: FSRA enhances protections for investors of high-risk offerings by co-operative corporations
Octobler 1, 2020: Empowering Auto Insurance Consumers with More Information and $1B in Relief
September 24, 2020: FSRA Delivering on its Commitment to Performance Reporting by Introducing Service Standards
September 10, 2020: FSRA Imposes Administrative Penalty of $250,000 on Fortress Real Development Inc.
August 13, 2020: FSRA Working to Promote Consumer Confidence in Financial Planning and Advisory Services
August 06, 2020: Protecting Investors of Syndicated Mortgages
July 22, 2020: Sukhdippal Singh Matharu and Popular Mortgages are Not Licensed to Conduct Mortgage Business In Ontario
July 21, 2020: FSRA leveraging data, analytics and technology to improve regulatory effectiveness: Call for Members to Join New Technical Advisory Committee for Auto Insurance Data and Analytics Strategy
July 17, 2020: FSRA promotes high standards of business conduct in the life and health insurance sector
July 6, 2020: Public Consultation is Now Open for FSRA's Loss Trend Benchmarks for Private Passenger Automobile Major Rate Filings
June 23, 2020: Working With Pension Sector to Help Ensure Members Receive Their Benefits
June 18, 2020: Temporary Relief Measures Help Pension Plans Ease Their Administrative Burden
June 17, 2020: FSRA Encourages Ontario's Auto Insurers to Explore Further Relief Measures as COVID-19 Continues to Impact Consumers
June 8, 2020: Achieving Financial Safety, Fairness and Choice in Ontario - FSRA demontrates Significant Progress in Year One
June 3, 2020: FSRA Releases Guidance Aimed at Protecting Auto Insurance Claimants While Physical Distancing Restrictions in Place
May 22, 2020: FSRA Announces New Measures to Support Pension Plans During Current Period of Disruption
May 15, 2020: FSRA Releases Loss Trend Benchmarks for Private Passenger Automobile Major Rate Filings Guidance and Public Consultation Summary Report
May 12, 2020: FSRA Increases Protections for Consumers of Mortgage-Based Investments
May 7, 2020: Credit Union Capital Treatment of Loans under the Federal Government Business Credit Availability Program
April 27, 2020: FSRA Extends Deadline for Insurance Agents to Renew Licences
April 24, 2020: FSRA Releases Pension Sector Emergency Management Response
April 23, 2020 - New Credit Union Deposit Insurance Advertising Rule Approved by Minister of Finance
April 16, 2020 - FSRA Releases Guidance to Support Insurers in Providing Emergency Relief to Auto Insurance Consumers
April 2, 2020 - FSRA Issues Update on Mortgage Administrator Invoicing
March 27, 2020 - FSRA Announces Changes to Regulatory Requirements Due to COVID-19
March 16, 2020 - FSRA Statement of Business Continuity
March 6, 2020 - Building a Foundation for Regulatory Effectiveness