FSRA releases first Enforcement Annual Report
May 25, 2026
The Financial Services Regulatory Authority of Ontario (FSRA) recently released its first Enforcement Annual Report. The report provides an overview and statistics on FSRA investigations and enforcement outcomes.
According to the report FSRA greatly increased enforcement over the past fiscal year, launching more cases, issuing more penalties and tightening oversight across key sectors.
Highlights from FSRA’s Enforcement Annual Report 2024/25 include:
- 100 enforcement actions initiated (up from 65 the previous year).
- sanctions nearly doubled in volume over two fiscal years.
- imposed $1.2 million in administrative monetary penalties, mostly in the mortgage sector.
- orders to revoke and refuse 25 licenses in the mortgage and insurance sectors.
The majority of FSRA’s enforcement efforts focussed on sectors outside of the scope of pensions and benefits. The 2024?25 enforcement tables listed 100 enforcement actions in total with only two sanctions attributed to the pension sector. These actions included one compliance order and one warning letter against pension plans.
Click on ‘More information’ below to read the Annual Enforcement Report:
