The Financial Services Regulatory Authority of Ontario (FSRA) has announced the appointment of new members to its stakeholder advisory committees (SAC) for the 2024-2026 term, reaffirming its commitment to a transparent and inclusive regulatory process.

The SACs are essential in providing FSRA with diverse perspectives and guidance, ensuring that the regulator’s policies and initiatives are informed by broad stakeholder input.

The new members, who will begin their two-year terms in September, will play a vital role in shaping the future of Ontario’s financial services sector, according to the FSRA.

“We are grateful for the overwhelming response to our public call for applications,” FSRA interim chief executive Stephen Power (pictured) stated. “The dedication and passion demonstrated by all applicants are truly commendable.

“Your willingness to contribute your expertise is vital to the ongoing success and evolution of our regulatory efforts.”

Following a thorough review process, FSRA confirmed the new members for the following SACs: auto insurance (including health service providers), property and casualty insurance, life and health insurance, mortgage brokering, credit unions, and financial advisors/financial planners.

FSRA also expressed its appreciation to the outgoing SAC members for their significant contributions over the past term, acknowledging their efforts in supporting the agency’s work and the broader financial services industry in Ontario.

Meanwhile, as the membership of the pensions SAC is staggered, a new round of appointments is expected this fall. The committee will also see terms extended to two or three years.

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