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Ontario financial regulator issues cybersecurity preparedness guidance for mortgage brokering sector

August 31, 2022

Via: Law Times

The Financial Services Regulatory Authority of Ontario (FSRA) recently released guidance on cybersecurity preparedness to prevent unauthorized access to sensitive client information in the mortgage brokering sector.

The guidance adopts the Mortgage Broker Regulators’ Council of Canada’s “Cybersecurity Guidance,” which provides leading practices for preventing cyber incidents and appropriately responding to them when they occur. It affects all licensees carrying out mortgage brokering activities across Ontario, including mortgage agents, brokers, brokerages, and administrators.

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