The Ontario government is seeking input on new mortgage broker regulations.

A new act updating the legislation governing this sector will be fully proclaimed on July 1. The Ontario government says it is moving forward to implement an updated regulatory regime, “to improve consumer protection and enable business to grow and meet the needs of consumers in a fair and effective manner.”

The government is now proposing new regulations and amendments to existing regulations that would support the implementation of this new regulatory framework. It is seeking input finalizing the remaining set of regulations to support the new standards.