FSCO, the regulator for Ontario’s 8,342 mortgage agents, has issued it’s “Statement of Priorities” for 2010.
Some of it’s main priorities include:
Reviewing "Continuing Education needs for…mortgage agents and brokers to ensure consumers are served by intermediaries with up-to-date skills.”
Enhancing “risk-based monitoring, examination and enforcement activities to promote industry compliance with the Mortgage Brokerages, Lenders and Administrators Act, 2006 and associated regulations. Activities include: errors and omissions insurance audits of brokerages, education audits, and compliance reviews of the industry’s ads, public relations materials and websites.”
Modernizing “FSCO’s market conduct policies and procedures to provide a more consolidated and consistent approach to handling market conduct complaints.”
FSCO’s priorities above are in draft form and the public is welcome to comment on these priorities by emailing FSCO at: email@example.com
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