Have your say about the updated proposed UDAP amendment
The Financial Services Regulatory Authority of Ontario (FSRA) is taking additional steps to gather public input and better protect consumers
We are holding further consultations on an updated proposed amendment to the Unfair or Deceptive Acts or Practices (UDAP) Rule.
The updated proposed amendment would address concerns about deferred sales charges (DSCs) for customers who already own individual segregated fund contracts with DSCs.
If the updated proposed amendment is approved, insurers may simplify the information they provide customers if they give the customer a new sales charge option that is better than a DSC in every way.
Consultation on the updated proposed amendment is now open and will close on June 30, 2023. FSRA will submit a final proposed amendment to the Minister of Finance for approval after reviewing consultation feedback.
- Review and submit your feedback on updated proposed amendments to the Unfair or Deceptive Acts or Practices Rule
- Industry and consumer advocates, including FSRA’s Consumer Advisory Panel, shared feedback during the public consultation on proposed Amendment 2. View a summary of stakeholder comments and FSRA’s responses
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.