When FSRA assumed the regulatory duties of FSCO and DICO, it inherited over 500 pieces of guidance issued by these legacy regulators.
FSRA launched a Guidance Framework in October 2019 to standardize the guidance FSRA issues across its regulated sectors. The framework describes FSRA’s principles, processes, and practices for the use of guidance so that it is easier for stakeholders to understand and do business in the sectors.
Learn more about the Guidance Framework.
Review Process for Inherited Guidance from FSCO and DICO
FSRA’s review of inherited guidance in 2019 reduced its total active guidance by 40 percent. FSRA assessed each piece of inherited guidance to determine if the content was:
- Up-to-date and relevant to current market conditions
- Reflected FSRA’s approach to regulation
- More suitable as general industry information on the sector page
Based on the assessment, FSRA adapted some pieces of inherited guidance to the Guidance Framework, migrated the content to the appropriate sector page as general industry information, or deactivated the guidance. As a result of the assessment in 2020, FSRA announced it had reduced its inherited guidance by 51%. Follow the link to Burden Reduction | Financial Services Regulatory Authority of Ontario (fsrao.ca), for more information.
Active Inherited Guidance Under FSRA
Inherited guidance that remains relevant to current market conditions in the regulated sectors and reflects FSRA’s regulatory approach for protecting the public interest can be found as Active guidance in the Guidance table.
Deactivated Inherited Guidance from FSCO and DICO
All deactivated inherited guidance is accessible for reference as Inactive guidance, in the Guidance Table.