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ARTICLE · 08 NOVEMBER 2018

FSCO Targeted Reviews – An Update

Miller Thomson
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As we discussed in our April post, in late 2017, the Ontario pension regulator, the Financial Services Commission of Ontario ("FSCO"), announced that it was undertaking a series of "targeted reviews" of selected pension plans.

CanadaFinance and Banking
Kim Ozubko
Kim Ozubko
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As we discussed in our April post, in late 2017, the Ontario pension regulator, the Financial Services Commission of Ontario ("FSCO"), announced that it was undertaking a series of "targeted reviews" of selected pension plans. FSCO recently released the results of its targeted review of Form 7 – Contribution Reporting & Monitoring Process.

Targeted Review Process

According to FSCO, the targeted review of selected pension plans is intended to: (i) help ensure compliance with the Pension Benefits Act (Ontario) ("PBA") and FSCO policies; (ii) identify common issues and trends; and (iii) determine if and what further guidance or education the industry may need.

FSCO has not indicated on what basis plans are being or will be selected for a targeted review but has committed to posting a notification on its website before each targeted review begins.

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