FSRA Delivers on its Commitment to Protect Consumers
New Consumer Advisory Panel Launched to Inform Regulatory Priorities
TORONTO January 23, 2020 – The Financial Services Regulatory Authority of Ontario (FSRA) is delivering on its commitment to protect the public interest by establishing a Consumer Advisory Panel to help inform its work.
The Panel will provide perspectives from consumers (including pension beneficiaries, credit union members and the general public) on proposed FSRA policy changes, and assist its Consumer Office in becoming the voice of the consumer within FSRA. The nine members selected to serve on the Panel bring extensive leadership and experience in representing consumer interests in Ontario and Canada. They will provide input and help to inform FSRA’s strategic approach and related activities, including consumer-based research, policy support and consumer outreach.
FSRA received valuable feedback from public consultations conducted between October 15, 2019, and November 14, 2019, and incorporated it into the Panel’s Terms of Reference. This included, for example, a requirement for the Panel to provide feedback on FSRA’s progress in meeting its priorities. A summary report on the public consultations is available on FSRA’s website.
“The Consumer Advisory Panel will help ensure that consumer perspectives inform FSRA’s direction and decisions, a key priority for FSRA,” says Glen Padassery, FSRA’s Executive Vice President, Policy and Chief Consumer Officer. “The Panel is an important part of FSRA’s stakeholder engagement process as we work to deliver on our mandate to protect the public interest, and safeguard public confidence and trust, in financial services in Ontario.”
The panel will hold its first meeting later this winter. More information about the Panel is available on FSRA’s website.
Ms. Altman-Leamen is a Director of the Canadian Federation of Pensioners and a member of its advocacy team. She is also the co-founder and Senior Vice President of Yellow Pages Pensioners Group. Her focus is protecting the pensions and benefits of active and retired members of Defined Benefit Plans in Canada, especially with regard to underfunded pension plans that have in some cases ended up in windup, due to bankruptcies or insolvencies.
Mr. Bonn is the Vice President (and future President) of the Ontario Trial Lawyers Association, focused on advocating for the rights of those who have suffered injury and losses as the result of wrongdoing by others. As a law partner at Bonn Law Office Professional Corporation, he represents individuals involved in auto insurance disputes, property insurance claims and other civil matters.
Mr. Chopra has over 20 years of experience interacting with clients of all backgrounds across a variety of wealth channels from investment advisors to financial advisors to institutional and retail investors. He was Chair of the CFA Society of Toronto and has served on the Board of Directors of the Alternative Investment Management Association (AIMA) Canada, the Canadian Accounting Standards Board, and as a community member on the Ontario Judicial Council.
Ms. DesRoches is the Chair of the Board of FAIR Association of Victims for Accident Insurance Reform. She has extensive experience in the insurance industry from a consumer perspective, preparing and presenting materials to government, regulators and other stakeholders for the past 25 years with a particular focus on accident victims.
Professor Doshi is at Ryerson University. He served as the Chair of the Consumer Advisory Council of Tarion, Ontario’s New Home Warranty Program, and of the City of Toronto’s Technical Advisory Group on Green Roofs. He is focused on providing a well-researched and effectively-communicated consumer perspective to Regulatory Authorities.
Mr. Gauthier has extensive knowledge and experience in the credit unions sector at the local, provincial and national levels. He served on the Forum de Concertation de Desjardins, a national advisory panel, until December 2019. He is a Board member of the Fédération des caisses populaires de l’Ontario and of several credit unions/cooperatives. He works to ensure that financial institution and insurance providers remain strong and solid and that consumers are protected from loss should these providers fail.
Mr. Geller is a lawyer who helps investors and the insured get what their financial advisors promised them. He is a member of the Ontario Securities Commission’s Senior Expert Advisory Group and the Ombudsman of Banking and Investment’s Consumer and Investor Advisory Council. He serves on the Executive Committees on Elder Law for both the Canadian and Ontario Bar Associations, and on the Canadian Bar Association’s Executive Committee on Insurance Law.
Mr. Gouley has significant experience providing commentary and advice on investor protection issues and regulatory proposals, including the CCIR and CISRO Fair Treatment of Customers Guideline. He has led the Canada Advocacy Council of CFA Societies Canada and was the chair of the Canadian Securities Traders Association. His focus is promoting investor protection and confidence, and fair and efficient capital markets.
Laura Tamblyn Watts
Ms. Tamblyn Watts is a public policy lawyer with 20 years of expertise in the aging, financial, disability and consumer sectors. She founded and was the National Director of the Canadian Centre for Elder Law, and the Chief Public Policy Officer at CARP. She recently founded CanAge, a new non-profit voice for seniors in Canada. She has extensive experience in banking, securities, regulatory and law reform in the consumer and financial sectors. She teaches at the University of Toronto in the Institute for LifeCourse and Aging, and the Factor Inwentash Faculty of Social Work.
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