In its draft statement of priorities, issued today, the Financial Services Commission of Ontario says it plans to promote a co-ordinated national approach to regulatory issues.

The FSCO’s Statement of Priorities identifies key challenges facing FSCO, outlines proposed strategic priorities, highlights initiatives and notes recent progress on significant projects. Comments are due by June 5.

The priorities include promoting a co-ordinated national approach to regulatory issues through participation in groups such as the Joint Forum of Financial Market Regulators, the Canadian Association of Pension Supervisory Authorities, the Canadian Council of Insurance Regulators and the General Insurance Statistical Agency.

In the year ahead, it pledges to continue work related to assessing and harmonizing point of sale disclosure for segregated funds and mutual funds, finalizing a model for point of sale disclosure for mutual funds and seg funds for input by consumers in 2006. It also says it will examine the regulation of intermediaries and recommend ways to minimize possible conflicts, and promote equivalent consumer protection, focusing initially on intermediaries who sell mutual funds and seg funds.

It also promises to: explore mechanisms to allow for more effective sharing of information on regulatory enforcement issues and actions across sectors and jurisdictions; implement a reliance reciprocal licensing model to streamline agent and broker licensing across Canada; enhance the risk-based approach to regulation; review and recommend amendments to the regulatory framework to keep up with changes in the marketplace; and, improve its delivery of services, among other things.