fsco dico fst mandate review.pdf

Table of Contents
Glossary......................................................................................................................................v
Acknowledgements .................................................................................................................... 1
I.

Introductory Comments ..................................................................................................... 1
Our Process ...................................................................................................................... 2
What We Have Heard ....................................................................................................... 4
Summary of our Preliminary Recommendations ................................................................ 6
Feedback on our Preliminary Recommendations .............................................................. 6
What We Have Learned .................................................................................................... 8

II. Our Final Recommendations............................................................................................. 9
Proposed New Regulatory Structure ................................................................................11
III. Detailed Final Recommendations ....................................................................................12
Mandate ...........................................................................................................................12
Governance......................................................................................................................29
Structure ..........................................................................................................................42
Tools, Means and Regulatory Approach...........................................................................56
The Financial Services Tribunal (FST) .............................................................................61
Implementation .................................................................................................................66
APPENDIX A – Consultation Participants .............................................................................68
APPENDIX B – Concurrent and Recent Reviews ..................................................................73
APPENDIX C – Trends in the Regulated Sectors ..................................................................78
APPENDIX D – Overview of the Agencies .............................................................................81
APPENDIX E – Final Recommendations ...............................................................................84
APPENDIX F – Proposed FSRA Organizational Structure ...................................................92

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