The Financial Services
Commission of Ontario
With a legal mandate outlined in the Financial Services Commission of Ontario Act, 1997 (FSCO Act), FSCO was founded.
The legislative mandate of FSCO is to furnish regulatory services that safeguard the public interest and augment public trust in the industries it oversees.
The Financial Services Commission (FSCO) oversees the insurance industry, pension plans, credit unions, caisses populaires, loan and trust firms, mortgage brokering, cooperative businesses in Ontario, and service providers that bill motor insurers for statutory accident benefits claims. The Minister of Finance is the one to whom FSCO answers.
In addition to co-ops in Ontario, FSCO oversees pension plans, loan and trust businesses, credit unions, caisses populaires, the mortgage brokering industry, insurance firms, and service providers that bill auto insurers for statutory accident benefits claims. The Finance Minister is the person to whom FSCO answers.
The FSCO Act lays forth a three-part organization for FSCO, which consists of the Commission, the Superintendent of Financial Services and Staff, and the Financial Services Tribunal (Tribunal), to support the agency’s legislative role.
With a legal mandate outlined in the Financial Services Commission of Ontario Act, 1997 (FSCO Act), FSCO was founded.
The legislative mandate of FSCO is to furnish regulatory services that safeguard the public interest and augment public trust in the industries it oversees.
Regulatory Framework
The Regulatory Framework explains our methods, objectives, and course of action. It describes:
- The legislative mandate of FSCO; the ways in which FSCO achieves regulatory outcomes in order to carry out its mandate; the principals that FSCO adheres to when carrying out regulatory actions;
The strategy used by FSCO takes into account the standards in the financial services industries that we oversee. In general, people expect financial products and services to meet the demands of the public, consumers anticipate fair treatment, and members of pension plans expect secure future pension payouts. Furthermore, stakeholders and regulated firms anticipate fair and open financial services regulation.
The Regulatory Framework also outlines FSCO’s expectations for stakeholders, consumers, pension plan participants, and companies and persons licensed or registered with FSCO, as well as what FSCO can be expected to provide during the regulatory process.
Supervisory Framework for Market Regulation
The Market Regulation Supervisory Framework outlines how FSCO’s Market Regulation Branch plans and executes its monitoring and compliance efforts across the regulated financial services industries. It is aligned with the FSCO Regulatory Framework.
the fsco.go.on.ca website