Antoinette Leung Appointed chair of the Mortgage Broker Regulators’ Council of Canada
TORONTO, Feb. 23, 2023 /CNW/ – The Head of Financial Institutions & Mortgage Brokerage Conduct at the Financial Services Regulatory Authority of Ontario (FSRA), Antoinette Leung, has been appointed the new chair of the Mortgage Broker Regulators’ Council of Canada (MBRCC). This national organization brings provincial regulators together to address common issues and promote consistent approaches to better protect Canadians.
“One of the most important consumer protection initiatives that the MBRCC introduced this year is its work to ensure that mortgage brokers and agents recommend suitable mortgages for individuals and families,” said Leung. “We want to communicate our expectations to the sector clearly so they understand that consumer protection is our number one priority.”
Leung has over 20 years of leadership in financial services regulation, including over three years with FSRA. In this role, she will draw on her experience to focus attention on enhancing regulatory effectiveness and efficiency to better protect consumers and promote public confidence in the mortgage brokering sector across Canada.
“FSRA has made significant strides in Ontario to protect those in the housing market who are making the largest purchase of their lifetime, said Leung. “I’m looking forward to collaborating and sharing information with other Canadian regulators to better align our approaches and help ensure that consumers are treated fairly from coast to coast to coast.”
Ontario supported the establishment of the MBRCC and has been a longstanding member of the organization. The MBRCC provides an important forum for regulators, like FSRA, to work collaboratively to enhance consumer protection, such as the recent work to ensure brokers and agents recommend suitable mortgages for individuals and families. Later this year, the MBRCC will be publishing principles for conducting mortgage product suitability assessments.
FSRA continues to work on behalf of all stakeholders, including consumers and pension plan members, to ensure financial safety, fairness, and choice for everyone. Learn more at www.fsrao.ca.
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SOURCE Financial Services Regulatory Authority of Ontario