The Financial Services Regulatory Authority of Ontario (FSRA) announced Aug. 10 that it is increasing its transparency in enforcement actions.
The regulator is now consulting on its proposed approach guidance that outlines how and when FSRA publishes information about enforcement proceedings and investigations.
The proposed guidance outlines how FSRA communicates Notices of Proposals, Notices of Intended Decisions, Final Orders and Minutes of Settlement through news releases to increase public and industry awareness.
“Our proposed approach will provide greater access to information about who and what type of conduct is being sanctioned. As a result, the public, industry and other regulators can be better informed,” stated the regulator.
Those who wish to submit their feedback on the guidance should visit the regulator’s website for more information. The consultation period is now open and will close Sept. 24, 2021.