FSRA transfer of syndicated mortgage oversight delayed until July

The transfer of regulatory oversight for syndicated mortgage investments from the new Financial Services Regulatory Authority (FSRA) to the Ontario Securities Commission (OSC) is being pushed back to mid-2020.

In a joint statement, the regulators said Wednesday that the new regulatory regime is now expected to be effective in July.

The plan to transfer oversight of the sector to the OSC was first announced in 2017 amid concerns about the work of FSRA predecessor, the Financial Services Commission of Ontario (FSCO).

FSRA took responsibility for syndicated mortgages when it assumed FSCO’s regulatory duties in June.

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