The Financial Services Regulatory Authority of Ontario has opened a consultation on proposed guidance setting out when mortgage agents and brokers can use team names in advertising, with the aim of making accountability for mortgage services clear to clients. The proposed guidance would clarify that any advertising by a team must clearly display the name and licence number of the authorizing brokerage to reduce the risk of consumer confusion about brokerage identity and accountability. FSRA is seeking stakeholder input on whether, and how, team names can be used while maintaining transparency and compliance. FSRA will host a live online session on February 19, 2025 (11:00 a.m. to 11:45 a.m. ET) to provide an overview of the proposal and hold a Q&A. The consultation closes on February 22, 2025.
Financial Services Regulatory Authority of Ontario 2025-01-23
Financial Services Regulatory Authority of Ontario consults on guidance requiring brokerage name and licence number in mortgage team advertising
The Financial Services Regulatory Authority of Ontario is consulting on proposed guidance for mortgage agents and brokers regarding the use of team names in advertising. The guidance aims to ensure clear accountability by requiring advertisements to display the authorizing brokerage's name and licence number. Stakeholder input is sought on maintaining transparency and compliance.