Working to serve consumers and industry efficiently and effectively
Today, Ontario’s financial services regulator (FSRA) released its third quarter service standards scorecard, and we continue to meet or exceed service targets for 89.5% of our standards.
The report measures activities that are provided to industry stakeholders and consumers such as licence renewals, regulatory applications, and the handling of complaints.
FSRA uses this performance data to evaluate the efficiency and effectiveness of our resourcing, business processes and public service year-round.
Key highlights from the Q3 report:
- FSRA processed 100% of all Credit Union regulatory applications within 30 days
- FSRA assessed and actioned 100% of Mortgage Broker complaints within 270 days
- FSRA reviewed and made a decision on 100% of Defined Benefit Plan wind-up applications within 120 business days
- FSRA assessed and actioned 90% of Auto complaints within 120 days
FSRA measures and reports service standards every quarter to maintain and improve our level of service to the public, to reinforce our accountability and improve transparency.
Learn more:
FSRA continues to work on behalf of all stakeholders, including consumers, to ensure financial safety, fairness, and choice for everyone.
Learn more at www.fsrao.ca.