FSRA selects stakeholder advisory committee members

The Financial Services Regulatory Authority (FSRA) of Ontario has finalized the membership of six stakeholder advisory committees (SACs) that will advise FSRA’s board of directors going forward, beginning in November, when the committees will provide input on the regulator’s proposed 2020-2021 priorities and budget.

The six committees – one each for property and casualty (P&C) insurance, life and health insurance, mortgage brokering, pensions, health service providers and credit unions – inform FSRA’s annual business planning before the plan is delivered to the Minister of Finance, provide feedback on progress made by FSRA on its priorities from previous annual business plans, and provide feedback to the board on FSRA’s rule-making activity.

Committees range in size from 12 members to 16 members and include representatives from regulated entities, associations of regulated entities or regulated professionals who are senior members of their respective organizations or professions.

The life and health committee is the largest, with 16 members while the P&C panel is comprised of 13 members. Each member, most of whom are familiar names in their respective industries, will serve a 12-month term, which may be renewed for another term to stagger membership and provide continuity. FSRA says it intends to publish high-level meeting summaries three weeks after each SAC meeting with FSRA’s board.

The Life and Health Insurance committee is made up of the following members:

To view the SACs' membership for the five other committees, follow the link for each committee provided below:

1. Property and Casualty (P&C) Insurance
2. Mortgage Brokering
3. Pensions
4. Health Service Providers
5. Credit Unions