FSRA Launches its First Pensions Advisory Committees
TORONTO, July 19, 2019 – The Financial Services Regulatory Authority (FSRA) is creating three new Technical Advisory Committees in July 2019, to provide advice and feedback to the regulator on key matters related to the pension sector.
Technical Advisory Committees will form part of FSRA’s stakeholder engagement process going forward, helping to improve processes and approaches to regulation and reduce regulatory burden.
The three committees will provide advice to FSRA in the following areas recommended by the pension sector as work FSRA should undertake in its first year of operations:
- Missing plan members under registered pension plans
- Transfer of assets between pension plans
- Supervisory approach to Pensions Benefits Guarantee Fund - eligible pension plans that carry a deficit and may be at risk of failure
Committee members will participate in at least three to five meetings beginning later this summer. For more information on the nomination process and the criteria for each committee, please visit Pensions Technical Advisory Committees.
FSRA will select committee members based on their pension knowledge, understanding of the issues under consideration, as well as their senior level experience. Members will have the opportunity to influence FSRA’s approaches in each area, helping the regulator to improve its regulatory effectiveness and reduce regulatory burden.
Coming this fall, FSRA will also establish a Technical Advisory Committee to address the valuation and division of pension assets following the breakdown of a spousal relationship. Watch for more information this fall.
Effective June 8, 2019, the Financial Services Regulatory Authority of Ontario (FSRA) has assumed the regulatory duties of the Financial Services Commission of Ontario and the Deposit Insurance Corporation of Ontario. Learn more about FSRA and our approach to achieving safety, fairness and choice in non-securities financial services at www.fsrao.ca.
For Media Inquiries:
Senior Communications Officer, Issues and Media
Financial Services Regulatory Authority
T: 416-590-7536 | C: 647-296-5479