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FSRA of Ontario releases final IT Risk Management Guidance


November 27, 2023

The Financial Services Regulatory Authority of Ontario (FSRA) has released its final IT Risk Management Guidance.

The Guidance is laid out in two sections:

  • All sector guidance, which applies to all regulated entities and individuals
  • Sector-specific guidance, which is available for;
    • Credentialing bodies for Financial Planners and Advisors
    • Credit Unions and Caisses Populaires
    • Non-Ontario incorporated insurance companies, Insurance Agents, Insurance Agencies, Adjusters and Adjusting Firms
    • Mortgage Administrators, Mortgage Agents, Mortgage Brokerages and Mortgage Brokers
    • Ontario-Incorporated Insurance Companies and Reciprocals
    • Pension Plan Administrators

The Guidance for all sectors includes seven practices for effective IT risk management as well as a process to notify FSRA in the event of an IT risk incident.

The sector specific Guidance(s) provide an individual interpretation and approach for each sector, to assist industry professionals with applying the Guidance.

To review the full IT Risk Management Guidance in the FSRA of Ontario website, click on more information below:

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