FSRA striving to improve the delivery of services to consumers and the sectors it regulates
Q2 Service Standards Scorecard indicates targets met or exceeded majority of the time
The Financial Services Regulatory Authority of Ontario (FSRA) is constantly looking at ways to improve the delivery of services to consumers and the sectors it regulates. In its second quarter Service Standards Scorecard, FSRA met or exceeded its service targets nearly 85% of the time.
The standards measure operational and regulatory activities that FSRA provides such as licence renewals, regulatory applications, complaints resolution and annual information returns.
Highlights from FSRA’s Q2 FY 2022-2023 Service Standards Scorecard include:
- 95.5% of Mortgage complaints assessed and actioned within 120 days
- 100% of Insurance complaints assessed and actioned within 120 days
- 100% of Credit Union regulatory applications processed with determination within 30 days of receipt
- 93.8% of Defined Contribution Plan wind-up applications reviewed, and a decision made within 90 business days
FSRA monitors the standards and targets on a regular basis. Where there is a shortfall in a performance score, FSRA develops a plan to bring the service level up to target.
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.