The Financial Services Regulatory Authority of Ontario (FSRA) is enhancing consumer protection by proposing new standards for approving licensing courses in the mortgage brokering sector.
FSRA is now consulting on proposed guidance on adopting the Mortgage Broker Regulators’ Council of Canada’s Education and Accreditation Standards. The new standards promote a base level of education quality among course providers to foster professionalism, strengthen consumer protection and enhance confidence in the mortgage brokering sector.
This proposed guidance provides FSRA’s Interpretation of an approved education program required to obtain a licence under the Mortgage Brokerages, Lenders and Administrators Act, 2006 (MBLAA). It also provides FSRA’s proposed Approach for approving licensing courses.
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