The Financial Services Regulatory Authority of Ontario (FSRA) is an independent regulatory agency created to improve consumer and pension plan beneficiary protections in Ontario.

FSRA was established to replace the Financial Services Commission of Ontario (FSCO) and the Deposit Insurance Corporation of Ontario (DICO). The agency is flexible, self-funded and designed to respond rapidly to an evolving commercial and consumer environment. In this capacity, FSRA will: 

  • Promote high standards of business conduct
  • Foster a sustainable, competitive financial services sector
  • Respond to market changes quickly
  • Promote good administration of insurance and pension plans
  • Encourage innovation

Sectors we regulate

The newly created agency protects Ontarians by regulating:

  • Property and casualty insurance
  • Life and health insurance
  • Credit unions and caisses populaires
  • Loan and trust companies
  • Mortgage brokers
  • Health services providers (related to auto insurance)
  • Pension plan administrators
  • Financial planners and advisors (proposed)

As of September 30, 2021, FSRA regulated or registered:

  • 296 insurance companies
  • 4,991 regulated pension plans
  • 61 credit unions and caisses populaires
  • 49 loan and trust corporations
  • 1,236 mortgage brokerages
  • 2,962 mortgage brokers 
  • 15,182 mortgage agents
  • 233 mortgage administrators
  • 5,114 accident benefit service providers
  • 64,126 insurance agents 
  • 6,582 corporate insurance agencies
  • 1,368 insurance adjusters

Legislative mandate

  • Regulate and generally supervise the regulated sectors
  • Contribute to public confidence 
  • Monitor and evaluate developments and trends 
  • Promote public education and knowledge 
  • Promote transparency and disclosure of information
  • Deter deceptive or fraudulent conduct, practices and activities