The Financial Services Regulatory Authority of Ontario (FSRA) receives advice from a consumer perspective from the Consumer Advisory Panel (CAP). In April, CAP released a report on its activities for the year ended December 31, 2022, which may be of interest to those working in sectors regulated by FSRA. The report details CAP’s relationship with FSRA, including meetings with FSRA’s board, panel members expanding their governance and advisory roles, and CAP’s new working groups. Some of the activities reported on include a description of new members appointed by FSRA, topic-specific working groups relating to vulnerable consumers (including advice on the definition of vulnerability), outreach to various interest groups, and written submissions on FSRA’s proposed statement of priorities. CAP also provided advice to FSRA on its proposed guidance on administrative monetary penalties (described elsewhere in this bulletin).

April 28, 2023