The Financial Services Regulatory Authority of Ontario (FSRA) released its first Enforcement Annual Report for 2024/25, reporting that enforcement activity increased in both volume and impact, supported by a stronger supervisory framework and expanded legal powers. The report frames enforcement as a tool to protect consumers and pension plan members, promote higher standards of business conduct, and deter fraud. Key figures cited include 100 enforcement actions initiated, up from 65 the prior year, and a near-doubling in the volume of sanctions over two fiscal years. FSRA also imposed CAD 1.2 million in administrative monetary penalties and issued orders to revoke or refuse 25 licences in the mortgage and insurance sectors.
Financial Services Regulatory Authority of Ontario 2026-03-30
Financial Services Regulatory Authority of Ontario publishes first enforcement annual report reporting 100 actions initiated and CAD 1.2 million in penalties
The Financial Services Regulatory Authority of Ontario published its first Enforcement Annual Report for 2024/25, highlighting increased enforcement activity in both volume and impact, underpinned by a stronger supervisory framework and expanded legal powers. FSRA initiated 100 enforcement actions, nearly doubled the volume of sanctions over two years, imposed CAD 1.2 million in administrative monetary penalties, and revoked or refused 25 licences in the mortgage and insurance sectors.