FSCO was established under the Financial Services Commission of Ontario Act, 1997 (FSCO Act) with a legislative mandate set out in the FSCO Act.
FSCO's legislative mandate is to provide regulatory services that protect the public interest and enhance public confidence in the sectors it regulates.
FSCO regulates the insurance sector; pension plans; loan and trust companies; credit unions and caisses populaires; the mortgage brokering sector; co-operative corporations in Ontario; and service providers who invoice auto insurers for statutory accident benefits claims. FSCO is accountable to the Minister of Finance.
In order to support FSCO’s legislative mandate, the FSCO Act sets out a three-part structure for FSCO, which includes the Commission; the Superintendent of Financial Services and Staff; and the Financial Services Tribunal (Tribunal).
Regulations We Administer
FSCO's Superintendent & Staff
As of December 31, 2015, FSCO regulated or registered:
- 327 insurance companies
- 7,059 pension plans
- 110 credit unions and caisses populaires
- 51 loan and trust corporations
- 1,196 mortgage brokerages
- 2,696 mortgage brokers
- 4,274 accident benefit service providers
- 10,977 mortgage agents
- 143 mortgage administrators
- 1,800 co-operative corporations
- 51,324 insurance agents
- 5,511 corporate insurance agencies
- 1,510 insurance adjusters
More About FSCO