Consumer Advisory Panel reports on inaugural year of engagement with FSRA
TORONTO, April 8, 2021 - FSRA is committed to protecting the public interest and contributing to consumer confidence in financial services in Ontario. Its work with the Consumer Advisory Panel helps deliver on this commitment.
On behalf of the Panel, FSRA is pleased to share the Consumer Advisory Panel 2020 Annual Report. The report outlines the Panel’s key priorities and activities from January to December 2020. The Panel met with FSRA throughout the year to review FSRA’s strategic approach and policies with a consumer focus.
A key Panel initiative included consulting with consumer and investor advocates on the Financial Professionals Title Protection Rule. The rule will set minimum standards for “financial planner” and “financial advisor” title users in Ontario. The rule aims to improve public confidence in the advice and services of title users.
The Panel serves as an advisory body to FSRA through FSRA’s Consumer Office. It provides advice from a consumer perspective on proposed FSRA policy changes and regulatory activities and is an important part of FSRA’s stakeholder engagement process.
The nine Panel members bring expertise in investor and pensioner protection, insurance reform, financial services, law and education. The members have returned for the 2021 term and will continue to consult on FSRA’s plans in various ways.
Starting in 2021, the Panel will help set its policy agenda at the beginning of each term. They will meet up to six times a year to bring key consumer trends and issues into focus.
The Financial Services Regulatory Authority of Ontario (FSRA) is continuing to work with those we regulate to ensure financial safety, fairness and choice for consumers and members. Learn more at www.fsrao.ca.