FSRA exceeds majority of performance targets to better protect Ontario consumers

FSRA has released its Q1 2023-2024 Service Standards Scorecard. In this quarter, FSRA met or exceeded performance targets for 90% of its standards.

The report measures activities such as licence renewals, regulatory applications, and the handling of complaints.

Key highlights from the Q1 report:

• FSRA processed 100% of all Credit Union regulatory applications within 30 days after receiving all required information
• FSRA assessed and actioned 91% of Auto complaints within 120 days
• FSRA responded to 96% of Pensions inquiries (plan specific, non-plan specific and general) within 45 business days

FSRA also introduced three new metrics for the Credit Unions and Insurance Prudential sector and two new metrics for the Pensions sector. These will help FSRA better monitor its performance and improve service delivery.

Learn more:

• Q1 FY 2023-2024 Service Standards Scorecard
• Visit FSRA’s website for license application processing times

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.