June 12, 2002 — The Financial Services Commission of Ontario
(FSCO) is pleased to introduce the second phase
of its Internet Application System, a project that supports the
Ontario government�s e-business
initiative. The Internet Application System (IAS) is fast, secure
and convenient.
Effective July 15, 2002, your staff will be able to sponsor new
agents over the Internet, and
prospective new agents will be able to apply for a licence on-line,
24 hours a day, seven days a
week. Licences for qualified agents will be issued a few days later,
after the completion of
background checks. There are two easy steps to initiate the
application for a new licence using
FSCO�s Internet Application System:
- Your staff complete the first step of sponsoring the agent by
using the on-line preapplication
process to provide five basic pieces of information about the
prospective
agent. - The prospective agent will then be notified via e-mail that the
process has begun, and will
be provided with an electronic link to a secure area within FSCO�s
website. The agent will
use this on-line link to complete the licensing process, in much the
same way as agents are
currently using the Internet Application System to renew their
licences.
Your company will also have access to a variety of on-line, on
demand reports and improved lines
of communication, including automated e-mail status reports
indicating the status of all your
company�s on-line applications.
Details about the system and the pre-application process are
outlined in the enclosed brochure,
and are also available on FSCO�s website at www.fsco.gov.on.ca.
(Look under “What’s New” at the top, or “Licensing” at the left.)
The steps for your company to use the system are as follows:
- Assign an Authorized IAS Coordinator for your company by
completing the attached
agreement. An electronic copy of this agreement is available on the
FSCO website. This
type of document is typically required for accessing Internet
services. * - FSCO will assign a temporary electronic password and forward it to
your company�s
Authorized IAS Coordinator (Coordinator) via e-mail. - The Coordinator can then access the system through the Licensing
section of FSCO�s
website, and create his/her own permanent password. - The Coordinator then appoints Approved Users for your company,
individuals who your
company authorizes to initiate the licensing process for prospective
new agents.
The Internet Application System improves the efficiency of the agent
licensing system in Ontario,
and makes it easier for you to employ new agents by expediting the
licensing process. There is no
additional cost for this enhanced service.
