FSRA Seeks Feedback on Raised Education Standards for the Mortgage Broker Sector

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TORONTO, Jul 27, 2021 / CNW / – Financial Services Regulatory Authority Ontario (FSRA) strengthens consumer protection by proposing new standards for approving licensing rates in the mortgage broker sector.

FSRA logo (CNW Group / Ontario Financial Services Regulatory Authority)

FSRA logo (CNW Group / Ontario Financial Services Regulatory Authority)

FSRA is currently consulting on proposed guidance on the approval of the Board of Regulators of Mortgage Brokers Canadian Education and accreditation standards. The new standards promote a basic level of quality education among course providers to enhance professionalism, strengthen consumer protection and increase confidence in the mortgage brokerage sector.

This proposed guide is an interpretation of the FSRA approved educational program required to obtain a license under Mortgage Brokers, Lenders and Administrators Act 2006 (MBLAA). It also provides the FSRA’s suggested approach to approving licensing courses.

To view the suggested guide and provide feedback, visit FSRA website… The consultation period is open and will end September 7th, 2021

Learn more

The FSRA and the Treasury Department, in consultation with industry representatives, are working together to implement the recommendations from the 2019 MBLAA review by the government.

FSRA continues to work with those we regulate to ensure financial security, fairness, and choice for consumers and members. Find out more at www.fsrao.ca

SOURCE Financial Services Regulatory Authority Ontario

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View original content for media downloads: http://www.newswire.ca/en/releases/archive/July2021/27/c9097.html

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