The Financial Services Commission of Ontario (FSCO) was created on July 1, 1998, as an arm's-length agency of the Ministry of Finance. FSCO integrates the operations of the former Ontario Insurance Commission, Pension Commission of Ontario, and Deposit Institutions Division of the Ministry of Finance. FSCO comprises three key parts: the Commission; the Financial Services Tribunal (Tribunal); and the Superintendent and Staff.
As of March 1, 2007, FSCO regulated or registered 394 insurance companies, 7,539 pension plans, 217 credit unions and caisses populaires, 51 loan and trust companies, 1,116 mortgage brokers, 1,600 co-operative corporations, as well as approximately 36,900 insurance agents, 3,837 corporate insurance agencies and 1,100 insurance adjusters. The regulated sectors represent a large, dynamic and evolving industry that plays a vital role in the provincial economy and the financial security of individuals and families.
FSCO's Mandate, Vision and Values
Our Mandate
To protect the public interest and enhance public confidence in the regulated sectors, FSCO provides regulatory services that protect financial services consumers and pension plan beneficiaries, and support a healthy and competitive financial services industry.
Our Vision
We are committed to being a vigilant, fair-minded and forward-looking regulatory agency with a constructive and responsive presence in Ontario’s financial services marketplace.
Our Values
Organizations reflect the shared values of their members. We have
a shared commitment to the values set out below.
We value:
Professionalism
We strive to achieve the highest standards of behaviour, competence and integrity in our work.
Fairness
We strive to deal with our stakeholders in an even-handed manner and demonstrate fairness in our workplace.
Equity
We strive to balance the interests of the public, including consumers and regulated stakeholders.
Accountability
We ensure that the policies and objectives of the provincial government are upheld.
Excellence
We strive to do our best in everything we do.
Respect
We value and treat each individual with respect and dignity in everything we do.
Teamwork
We work together as one team in serving consumers, the government and our stakeholders.
Financial Services Commission of Ontario