FSRA releases final guidance confirming the exemption of certain businesses from holding a mortgage brokerage licence

The Financial Services Regulatory Authority of Ontario (FSRA) continues to focus on protecting consumers and achieving regulatory efficiency in the mortgage brokering sector.

FSRA is releasing final Interpretation guidance on the Government of Ontario’s licensing exemption for certain businesses engaging in mortgage transactions. Amendments to Ontario Regulation (O. Reg.) 407/07 under the Mortgage Brokerages, Lenders and Administrators Act, 2006 (MBLAA) allowing the exemption came into effect on February 1, 2022.

Certain businesses may be exempt from holding a mortgage brokerage licence if they do not deal with individual consumers. The exemption enables FSRA to focus its resources on licensee conduct in transactions with greater risk of consumer harm.

The Guidance did not require substantive changes following FSRA’s recent consultation. It came into effect on February 1, 2022, concurrently with the amendments to O. Reg. 407/07.

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FSRA and the Ministry of Finance, in consultation with the industry, are working collaboratively to implement recommendations from the 2019 report on the government’s review of the MBLAA.

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