The Financial Services Regulatory Authority of Ontario’s (FSRA’s) Consumer Advisory Panel provides input to FSRA on its regulatory activities from a consumer perspective through FSRA’s Consumer Office. The Panel’s mandate includes providing input on FSRA’s statement of priorities, identifying topics for the consideration of the Consumer Office, and providing input on consumer research undertaken by FSRA or third parties. It has been in operation for a few years, and functions in accordance with its existing Terms of Reference. FSRA has released a consultation asking a number of questions with respect to the Terms of Reference in advance of the Panel’s third term in 2022, to determine if any changes are required. The Terms of Reference cover matters such as the Panel’s mandate, term limits (one year with a maximum three-year extension), and the Panel’s chair, which is currently the Chief Consumer Officer and/or their designate. Questions relate to these matters and more, including the per diem remuneration for attendance at meetings, Panel composition and meeting frequency. The comment due date is December 1, 2021 for anyone wishing to provide input.
November 30, 2021