July, 2011 – The Financial Services Commission of Ontario (FSCO) is an integrated financial services regulator. FSCO is an agency of the Ministry of Finance established under the Financial Services Commission of Ontario Act, 1997 (FSCO Act). It regulates insurance, pension plans, loan and trust companies, credit unions and caisses populaires, mortgage brokerages and administrators and co-operative corporations in Ontario.
FSCO delivers regulatory services that protect the public interest, support a strong financial services industry and build public confidence in the regulated sectors.
As of March 2011, FSCO licensed or registered:
- 361 insurance companies
- 8,757 mortgage agents
- 8,569 pension plans
- 85 mortgage administrators
- 167 credit unions and caisses populaires
- 1,639 co-operative corporations
- 57 loan and trust companies
- 44,203 insurance agents
- 1,213 mortgage brokerages
- 4,420 corporate insurance agencies
- 2,684 mortgage brokers
- 1,499 insurance adjusters
In order to achieve its legislative mandate FSCO has established three priorities.
- Risk Based Delivery
- Foster a coordinated National Approach to Regulatory Issues
- Continuous Service Improvement
Strategies and initiatives have been developed in order to achieve these priorities.
Read the full report (15 pages) 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.