Attention corporate agencies: FSRA’s new criminal record check process is launching in December
As announced in July, the Financial Services Regulatory Authority of Ontario (FSRA) has changed its licensing processes for criminal record checks to ensure the processes remain up-to-date and are as efficient as possible.
This process will now apply to corporate and partnership insurance agencies as of December 8, 2023.
What will be different?
Directors, officers or partners (DOPs) will be required to complete a criminal record check when they:
- are added to an insurance agency licence
- submit a name change request
Some principal representatives or DOPs at licensed insurance agencies may be required to complete a criminal record check when the business applies to renew its licence.
FSRA will also require all DOPs of businesses applying for a new insurance agency licence to complete the criminal record check beginning on December 8.
What will I need to do?
For new DOPs, you will be prompted to complete the criminal record check during the DOP registration or name change process.
For renewals, FSRA will notify you if one or more of your DOPs are required to complete a criminal background check after you submit your renewal application. Monitor your email for further instructions from FSRA’s licensing team to complete the process.
In both scenarios, you must use FSRA’s approved vendor, Triton, to complete the background check. Please use FSRA’s link to Triton’s website and be aware a fee of $19.15 will apply for Triton’s service. You will be prompted to provide the confirmation number from Triton during the registration process.
Criminal record checks are part of FSRA’s rigorous licence qualification process. It protects consumers by ensuring only suitable individuals deal in financial products and services in Ontario. FSRA continues to improve our licensing services through enhanced systems and processes.
FSRA continues to work on behalf of all stakeholders, including consumers, to ensure financial safety, fairness, and choice for everyone. Learn more at www.fsrao.ca.