The legislative framework in the FSRA Act provides FSRA with specific rule-making authorities under the regulated sector statutes and the FSRA Act, including the authority to make rules governing fees and other charges. By delegating rule-making authority to FSRA, the Legislature empowers FSRA to use its expertise to create and implement principles-based rules, giving FSRA additional flexibility to respond to market and/or product changes.

The rule-making process includes a mandatory consultation period during which stakeholders are encouraged to comment and provide feedback on the proposed new rule or change. Proposed rules will be posted on this page. Subscribe to our mailing list to be notified of consultations and other FSRA news.

Rule 2020 – 002 Unfair or Deceptive Acts or Practices Rule

FSRA is continuing its work to strengthen protection for insurance consumers in Ontario.

The Unfair or Deceptive Acts or Practices (UDAP) Rule was approved by the Minister of Finance on February 16, 2022 and is effective as of April 1, 2022. The rule strengthens the supervision of insurance industry conduct and enhances consumer protection by clearly defining outcomes that are unfair or otherwise harmful to consumers.

Rule 2019 – 001 Assessments and Fees

On May 24, 2019, the Minister of Finance approved, pursuant to subsection 23(1) of the Financial Services Regulatory Authority of Ontario Act, 2016 (the FSRA Act), the following rule by the Financial Services Regulatory Authority of Ontario (the Rule):

The Rule came into force on June 8, 2019. View prior notices and comments.

Substance and Purpose of Fee Rule

The substance and purpose of the Fee Rule is to ensure that FSRA is a self-funded agency that operates on a cost recovery basis, in accordance with the FSRA fee rule vision and principles, to enable FSRA to carry out its legislated mandate.

Rule 2019 – 002 Credit Union Deposit Insurance Advertising Rule

On April 8, 2020, the Minister of Finance approved the Credit Union Deposit Insurance Advertising Rule.  The Advertising Rule governs how credit unions advertise deposit insurance coverage. Credit unions are required to display decals and promotional material in branches and on their websites.

The Rule is effective on April 23, 2020. In accordance with the Rule, credit unions and caisses populaires are expected to have the new advertising material (e.g., decals, brochures) posted and available by July 23, 2020, three months after the Rule comes into effect.

Other resources:

For all other information regarding the Rule, please see prior notices and comments.

2021- 001 Sound Business and Financial Practices Rule

The Sound Business and Financial Practices Rule introduces a principles-based approach to business and financial practices by setting outcomes. The Sound Business and Financial Practices Rule was approved by the Minister of Finance on February 9, 2022 and is effective as of March 1, 2022. Note: The Sound Business and Financial Rule replaces Deposit Insurance Corporation (DICO) By-law No. 5.

For all other information regarding the Rule, please see prior notices and comments.

2021- 002 Capital Adequacy Requirements for Credit Unions and Caisses Populaires Rule

The Capital Adequacy Requirements for Credit Unions and Caisses Populaires Rule promotes a stronger credit union sector through the assessment and maintenance of adequate and appropriate forms of internal capital and better alignment with international standards. The Rule was approved by the Minister of Finance on February 9, 2022 and is effective as of March 1, 2022. 

For all other information regarding the Rule, please see prior notices and comments.

2021- 003 Liquidity Adequacy Requirements for Credit Unions and Caisses Populaires Rule

The Liquidity Adequacy Requirements for Credit Unions and Caisses Populaires Rule promotes a stronger credit union sector through the assessment and maintenance of adequate and appropriate forms of liquidity and better alignment with international standards. The Rule was approved by the Minister of Finance on February 9, 2022 and is effective as of March 1, 2022. 

For all other information regarding the Rule, please see prior notices and comments.