Four firms fined, several individual mortgage brokers’ licenses revoked
The regulator will begin sending out questionnaires to some advisors who are deemed to be higher risk to determine if they need a more in-depth compliance review
For the most part, this demographic is not familiar with critical components of their policies, such as “rescission rights” and “coinsurance”
The sanctions show that the province's regulatory system is protecting the public interest, Ontario finance minister says
In part, this was because the insurance regulator focused its compliance examinations in the latest year on agents with a high or medium risk of non-compliance
FSCO says broker Gagandeep Duggal and agent Zaheer Mohammad were found to be in non-compliance
Police issue scam alert regarding Stride Lending Group
Some individuals are being sent letters and cheques citing payment for a mystery shopper assignment for the Insurance Institute of Canada
FSCO found insufficient adoption of best practices
The bill also includes provisions to dissolve the Ontario Retirement Pension Plan (ORPP) Administration Corp.