FSRA releases its strategic priorities and activities for the next three years
The Financial Services Regulatory Authority of Ontario (FSRA) is committed to delivering financial safety, fairness and choice for Ontarians, through principles-based and outcomes-focused regulation of non-securities financial services and pensions in Ontario.
FRSA today released its 2021-2024 Annual Business Plan, outlining its strategic priorities and supporting activities. The measured plan includes the 2021-2022 fiscal year budget and focuses on activities that achieve regulatory efficiency (including burden reduction) and effectiveness, while protecting the interests of consumers.
Looking ahead, FSRA’s priorities will focus on:
- improving supervision capability;
- enhancing/implementing regulatory framework components;
- protecting consumers; and
- contributing to public confidence and promoting public knowledge.
The ABP also outlines FSRA’s plans to strengthen stakeholder engagement through active consultations with the public, sectoral Stakeholder Advisory Committees, and the Consumer Advisory Panel.
The plan was approved by the Minister of Finance on April 23, 2021, and addresses the expectations outlined in the Minister’s mandate letter.
In October 2020, FSRA posted a draft Statement of Priorities and Budget for public consultation as part of its commitment to transparency and received over 25 stakeholder submissions. The learnings from the consultation were incorporated into the Annual Business Plan.
The Financial Services Regulatory Authority of Ontario (FSRA) is continuing to work with those we regulate to ensure financial safety, fairness and choice for consumers and members. Learn more at www.fsrao.ca.