The Financial Services Regulatory Authority of Ontario (FSRA) continues to foster a strong, competitive and innovative financial services sector. One that commits to providing the latest advancements to consumers in a safe and responsible way.
FSRA’s Innovation Office has released its Test and Learn Environment (TLE) Guidance.
The new TLE Guidance establishes a mechanism that will validate and assess new and unique non-capital market financial services products, services, or business models before they are introduced into the Ontario market. This guidance applies to the following sectors:
- Property and casualty insurance
- Life and health insurance
- Credit unions and caisses populaires
- Loan and trust
- Mortgage brokers
- Health service providers as they relate to auto insurance
- Financial planners and advisors
FSRA’s Innovation Office will collaborate with innovators and businesses to encourage experimentation, promote innovative thinking, and look at ways to enhance Ontario’s regulatory competitiveness for financial services innovators while protecting the public interest.
The TLE Guidance will remain open for consultation in 2022 to ensure that stakeholders and participants have the opportunity to submit feedback that could influence and shape future versions of test environments.
Auto Insurance Test and Learn Environment (TLE) open for applications
The first test environment is now open to auto insurance sector applicants with innovative and consumer-focused solutions.
he Application Form and General Terms and Conditions are available for download. More information on how to apply is available in the TLE Guidance: Appendix 2 – Guide to Applications for Auto Insurance Exemptive Authority TLE . All applicants must submit the required information to [email protected]. Any questions should be directed to [email protected].
- Innovation Office
- Innovation Framework
- Innovation Framework Consultation Summary
- Test and Learn Environment FAQs
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