Office of Consumer and Pension Plans

mortgage brokers: The key recommendation is the creation of a super agency that would be more powerful, more flexible and more accountable than the three existing agencies responsible for regulating auto insurance, pension plans, mortgage brokers, loan and trust companies and credit unions, according to The Toronto Star. The panel is also calling for the creation of an Office of the Consumer and a compensation fund for investors who are victims of fraud. By Dana Flavelle Economy Mon., June 20, 2016 An expert panel is proposing sweeping changes that would boost consumer protection for borrowers, investors and retirees in Ontario amid rapid changes in the financial services industry. Currently, Quebec is the only province that compensates victims of investment fraud. We do not believe a thorough transformation could be accomplished within the current regime. With financial services and pensions sectors changing at a rapid pace, we need a regulator that is sufficiently independent, flexible, innovative and expert, according to the panel report, called Review of the Mandates of the Financial Services Commission of Ontario, the Financial Services Tribunal and the Deposited Insurance Corporation of Ontario. (news.financializer.com). As reported in the news.