FSRA releases 2021-2022 Market Conduct Activities Report

The Financial Services Regulatory Authority of Ontario (FSRA) is releasing its Market Conduct Activities Report for the 2021-2022 financial year.

The Report highlights FSRA's work to help ensure consumer protection, market integrity and regulatory compliance. It covers the following sectors: Mortgage Brokering, Insurance and Health Service Provider (licensees).

FSRA’s licensing and risk assessment team monitors business activities and investigates cases of non-compliance.

This helps to improve compliance rates and address potential risks to consumers. It also helps ensure financial safety, fairness and choice for everyone.

The Report presents the following actions taken by FSRA broken down by type, number and sector:

  • 1,692 actions taken across all sectors and types of actions
  • 228 licenses suspended or revoked due to non-filing of the Annual Information Return
  • 715 letters of warning sent to licensees who missed their regulatory filing deadline
  • Audited 219 Mortgage Administrators Licensees’ financial statements to find and address non-compliance
  • Improved Health Service Providers filing compliance from 81% to 97% over the last year

FSRA expects further annual reports to follow.

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FSRA continues to work on behalf of all stakeholders, including consumers, to ensure financial safety, fairness, and choice for everyone.

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