News & Updates
FSRA issues new guide titled "Enforcement: General Administrative Monetary Penalties Guidance"
April 19, 2024
The Financial Services Regulatory Authority of Ontario (FSRA) has published new guidance — Enforcement: General Administrative Monetary Penalties Guidance.
This guidance explains FSRA's interpretation and method for applying the rules and regulations related to General Administrative Monetary Penalties (AMPs), including:
- General AMPs can be applied to encourage compliance with the applicable legislation and to prevent anyone from gaining financially by not following these laws.
- How FSRA decides on the penalty amount.
- Circumstances when a penalty may be reduced.
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