July, 2010 – The Financial Services Commission of Ontario (FSCO) is a regulatory agency established under the Financial Services Commission of Ontario Act, 1997 (FSCO Act).
The Statement of Priorities is part of a three-year strategic planning process that allows FSCO to develop appropriate strategies to meet changing economic and marketplace conditions. As an agency of the Ministry of Finance, FSCO’s strategic priorities are developed as part of government-wide planning and reflect broader government priorities.
This 13th Statement of Priorities outlines FSCO’s strategic goals for the 2010-11 fiscal year and notes recent progress on significant projects. It includes a summary of environmental factors that were considered in setting the direction of these initiatives and a report-back section listing FSCO’s accomplishments in the previous year.
Many projects undertaken by FSCO are complex, involving many participants and require implementation in conjunction with federal and provincial jurisdictions. For this reason, some initiatives may span several years, with work continuing on an ongoing basis.
This document includes information about FSCO and its operations, from Vision to Partnership to the Regulatory Approach in uncertain economic times.
Strategic Priorities and Focus Areas.
FSCO’s key focus areas and their associated initiatives will be carried out along with FSCO’s core responsibilities in the regulated sectors. The focus areas include:
- Support automobile insurance reform
- Modernize and strengthen Ontario’s pension system
- Improve compliance with the Mortgage Brokerages, Lenders and Administrators Act, 2006
- Foster a coordinated national approach to regulatory issues
- Continuous improvement in the delivery of our services
In addition, there is a report of 2009 accomplishments relative to the 2009 Statement of Priorities.
For the full published FSCO Statement of Priorities June 2010 go here
FSCO is an agency of the Ontario Ministry of Finance, and regulates insurance, pensions, credit unions, caisses populaires, co-operatives, mortgage brokers, and loan and trust companies. For more information visit, www.fsco.gov.on.ca.