The Financial Services Regulatory Authority of Ontario (FSRA; french: Autorité ontarienne de réglementation des services financiers) is a self-funding
Crown agency
A crown agency was an administrative body of the British Empire, distinct from the Civil Service Commission of Great Britain or the government administration of the national entity in which it operated. These enterprises were overseen from 1833 ...
which acts as the
financial regulator
Financial regulation is a form of regulation or supervision, which subjects financial institutions to certain requirements, restrictions and guidelines, aiming to maintain the stability and integrity of the financial system. This may be handled ...
for the province of
Ontario
Ontario ( ; ) is one of the thirteen provinces and territories of Canada.Ontario is located in the geographic eastern half of Canada, but it has historically and politically been considered to be part of Central Canada. Located in Central Ca ...
, Canada. Established in 2016, FSRA officially succeeded its predecessor agencies – the Financial Services Commission of Ontario and the Deposit Insurance Corporation of Ontario – on June 8, 2019. The Financial Services Regulatory Authority of Ontario operates at arms-length from the
Government of Ontario
The government of Ontario (french: Gouvernement de l'Ontario) is the body responsible for the administration of the Canadian province of Ontario. A constitutional monarchy, the Crown—represented in the province by the lieutenant governor†...
, and reports to the
Legislative Assembly of Ontario
The Legislative Assembly of Ontario (OLA, french: Assemblée législative de l'Ontario) is the legislative chamber of the Canadian province of Ontario. Its elected members are known as Members of Provincial Parliament (MPPs). Bills passed by ...
through the
Minister of Finance
A finance minister is an executive or cabinet position in charge of one or more of government finances, economic policy and financial regulation.
A finance minister's portfolio has a large variety of names around the world, such as "treasury", " ...
.
Regulated sectors
FSRA regulates the insurance, credit union, ''caisse populaire'', mortgage brokerage, loan, trust, and pension administration sectors in Ontario. Additionally it provides
deposit insurance
Deposit insurance or deposit protection is a measure implemented in many countries to protect bank depositors, in full or in part, from losses caused by a bank's inability to pay its debts when due. Deposit insurance systems are one component of ...
for members of provincially-incorporated credit unions and ''caisses populaires''.
See also
*
Ontario Securities Commission
The Ontario Securities Commission (OSC) is a regulatory agency which administers and enforces securities legislation in the Canadian province of Ontario. The OSC is an Ontario Crown agency which reports to the Ontario legislature through the Minis ...
*
Pension regulation in Canada Within Canadian law, Pension regulation in Canada falls mostly within provincial jurisdiction by virtue of the property and civil rights power under the ''Constitution Act, 1867''. For workers whose employers are subject to federal jurisdiction, suc ...
References
External links
*
Financial regulatory authorities of Canada
Ontario government departments and agencies
Crown corporations of Ontario
2016 establishments in Ontario
Companies based in Toronto
Insurance regulation
Insurance in Canada
Pension regulation
Deposit insurance
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