The FSRA is seeking feedback on the License Waiver Guidelines for Advanced Entity Mortgage Transactions.

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TORONTO, August 18, 2021 / CNW / – Financial Services Regulatory Authority Ontario (FSRA) continues to focus on consumer protection and regulatory effectiveness in the mortgage brokerage sector. To align with these efforts, FSRA is working to implement by the Government Ontario proposed licensing exemption for certain businesses involved in mortgage transactions.

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

FSRA is currently consulting on proposed guidance on the right to license exemptions. under the draft Proposed Amendments to Ontario Bylaw 407/07 under Mortgage Brokers, Lenders and Administrators Act 2006 (MBLAA). The exception applies to certain businesses that do not work with individual customers. This proposed guide is the FSRA’s Interpretation of the types of businesses that will be exempted from the FSRA licensing.

To view suggested instructions and provide feedback, visit FSRA website… The consultation period is open and will end October 8, 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 Government Review Report.

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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