The Financial Services Regulatory Authority of Ontario (FSRA) is releasing its 2022-2025 Annual Business Plan (ABP), which sets out its strategic direction, priorities and financial plan for the next three fiscal years.
The priorities outlined in the Annual Business Plan focus on consumer protection and regulatory effectiveness and efficiency, including delivering good value for money.
To support this year’s priorities, FSRA is introducing a new Strategic Framework that forms the foundation for its strategic planning through 2025. The Framework is reflective of FSRA’s legislative objects, vision, and mission, and consists of four pillars that were used to develop the strategic priorities:
1. operate effectively to be a high-performing regulator
2. transform our regulatory processes to make evidence-based and risk-based decisions
3. protect the public interest to enhance trust and confidence in the sectors we regulate
4. attract talent and evolve our culture to achieve the mission and vision of the organization
The plan was approved by the Minister of Finance on April 5, 2022, and addresses the expectations outlined in the Minister’s mandate letter.
In October 2021, consultations were held to gather input on FSRA’s 2022-23 Statement of Priorities and Budget as part of its commitment to transparency. The feedback from the consultation was incorporated into the final Annual Business Plan.