FSRA to oversee insurance, mortgage and deposit taking institutions in Ontario [Toronto Globe and Mail (Ontario, Canada)]
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Source: Toronto Globe and Mail
FSRA to oversee insurance, mortgage and deposit taking institutions in Ontario A new independent financial regulator is up and running in Ontario to oversee insurance, mortgage and deposit taking institutions. The Financial Services Regulatory Authority of Ontario (FSRA) assumed regulatory duties on June 8, replacing both the Financial Services Commission of Ontario (FSCO) and the Deposit Insurance Corp. of Ontario (DICO). The new regulator – led by financial services veteran Mark White – will oversee Ontario’s financial services providers, excluding securities, which are regulated by the Ontario Securities Commission. Story continues below advertisement In particular, the FSRA will regulate Ontario’s insurance sector, pension plans, loan and trust corporations, credit unions and caisses populaires, mortgage brokers and service providers that invoice auto insurers for statutory accident benefit claims. Mr. White assumed the role of CEO of FSRA in May, 218, and has spent the past year
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