Financial Services Commission of Ontario – Benefits Canada.com

FSRA creates new advisory committees on pension sector matters

mschmit — Tue, 23 Jul 2019 05:15:21 +0000

The Financial Services Regulatory Authority is creating three new technical advisory committees, which will provide advice and feedback to the regulator on pension sector related matters and will form part of its stakeholder engagement process going forward. The aim is to improve processes and approaches to regulation and reduce regulatory burden, noted a press release. In its first year of […]

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Ontario launches new pension, financial services regulator

mschmit — Mon, 10 Jun 2019 05:24:59 +0000

The Ontario government is combining two agencies to create one pension and financial services regulator aside from securities. As of June 8, the Financial Services Regulatory Authority of Ontario replaces the Financial Services Commission of Ontario and the Deposit Insurance Corp. of Ontario as an integrated, independent and self-funded regulator. Read: A look ahead at pension […]

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FSCO releases guideline for administrative penalties under pension act

mschmit — Wed, 14 Nov 2018 11:45:03 +0000

The Financial Services Commission of Ontario has released its guideline for administrative penalties related to violations of the province’s Pension Benefits Act. The change was introduced at the beginning of 2018, with the superintendent given the authority to impose monetary penalties for certain violations of the act and its regulations. Unlike a fine, these penalties have […]

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Ontario’s new pension regulator appoints inaugural CEO

mschmit — Wed, 11 Apr 2018 12:11:21 +0000

Ontario’s new pension regulator, the Financial Services Regulatory Authority, has appointed Mark White as its inaugural chief executive officer, effective May 7, 2018. White is currently the senior vice-president and head of enterprise risk at the Bank of Montreal and has also led its capital adequacy and analysis and capital management functions. Prior to joining the Bank […]

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DB solvency ratios stay steady for another quarter: FSCO

mschmit — Mon, 30 Oct 2017 05:00:49 +0000

Solvency ratios for defined benefit pension plans regulated by the Financial Services Commission of Ontario have stayed relatively stable, according to the organization’s quarterly report. The median solvency ratio was 91 per cent as of Sept. 30, 2017, up from 89 per cent on June 30 and down from 93 per cent on March 31. […]

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