Annual Report 2014-2015

Table of Contents


Report of the Financial Tribunal


ESTABLISHED BY THE FSCO ACT, the Financial Services Tribunal (FST) is an expert, independent adjudicative body. The FST conducts hearings and hears certain appeals on regulatory and disciplinary matters under statutes covering the regulated sectors including:


The FST has exclusive jurisdiction to exercise the powers conferred on it by legislation and to determine all questions of fact or law that arise in its hearings.


The FST is composed of nine to 15 members, including the Chair and two Vice-Chairs, all appointed by the Lieutenant Governor in Council. The Chair and Vice-Chairs of the FST are also the Chair and Vice-Chairs of the commission.


Appointments to the FST and the Financial Services Commission of Ontario are made in accordance with the guidelines established by Ontario’s Public Appointments Secretariat [New Window].


Financial Services Tribunal Board Members
Florence A. HoldenChair (acting)August 11, 2004September 5, 2017
Elizabeth ShiltonVice-ChairMay 18, 2005January 31, 2015
Denis W. BoivinVice-Chair (acting)November 3, 2004July 22, 2017
John M. SolurshMemberAugust 11, 2004August 7, 2017
Paul FarleyMemberJanuary 5, 2015February 4, 2016
Ian McSweeneyMemberMarch 11, 2015April 10, 2016
Patrick William Longhurst MemberAugust 9, 2009August 7, 2017
Jeffrey RichardsonMemberAugust 12, 2008August 7, 2017
David A. ShortMemberOctober 24, 2001November 3, 2014
Jennifer Lynne BrownMemberJuly 8, 2010July 6, 2015
Jill WagmanMemberDecember 17, 2013December 16, 2016
Bethune WhistonMemberDecember 17, 2013December 16, 2016


The FST is committed to providing an expert, impartial hearing process that is accessible, prompt and fair. It has established its own Rules of Practice and Procedure and issued Practice Directions to guide the conduct of its hearings. Proceedings are also governed by the Statutory Powers Procedure Act.


For the convenience of hearing participants, the FST’s hearing schedule, decisions, Rules of Practice and Procedure, and Practice Directions are posted on the FST website at [New Window]. Biographical sketches of current FST members may also be found on this site.


The Tribunal has established service standards, which are published, and a tracking mechanism to facilitate public reporting on services.


The following table summarizes the FST’s activities in 2014-15.


Financial Services Tribunal Activities
ActivityPension Matters (Excluding Financial Hardship)Pension Matters (Financial Hardship)Mortgage MattersInsurance MattersCredit Union MattersLoan & Trust MattersTotal 2014–15Total 2013–14
Cases Pending at Beginning of Year10901920
New Cases Received416658519
Files Closed717265020
Cases Pending at End of Year78395419
Oral Hearing Days171073411
Written Hearings
Other Activity Days – Including: Pre-Hearing Conferences, Telephone Conferences, Settlement Conferences and Motions2127398746
Total Hearing (Oral and Written) and Activity Days before FST38374612157


1. Table does not include FST quarterly meetings, days for deliberation or decision writing.

2. Numbers may reflect activity in respect of files opened prior to 2014-15 fiscal year.

3. Written hearings may relate to financial hardship matters, motions, requests for costs or requests for a review of a decision.


Return to top