Helping mortgage administrators better understand their responsibilities when handling funds and investments
The Financial Services Regulatory Authority of Ontario (FSRA) is taking steps to ensure mortgage administrators are better protecting funds and investments they handle for investors and lenders.
FSRA is now consulting on proposed guidance that explains what mortgage administrators need to do to comply with existing and expanded financial reporting requirements.
By complying with these reporting obligations, mortgage administrators will help prevent funds and investments from being misplaced, stolen or treated improperly.
To review the proposed guidance and submit your feedback, please visit FSRA’s website. The consultation period is now open and will close on June 16, 2023.
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.