Report commissioned by the Ministry of Finance reviewing the mandates of FSCO, DICO and the FST released.
The Ministry of Finance commissioned an independent panel to review the mandates of FSCO, DICO and the FST in 2015. The report makes a number of recommendations, but likely most importantly, it suggests combining the responsibilities of FSCO and DICO, and in their place create a new Financial Services Regulatory Authority (FSRA). The report also makes some recommendations regarding syndicated mortgages and potential oversight of this activity by the Ontario Securities Commission.
View Mortgage Professionals Canada’s Letter of Response: