The head of Ontario’s mortgage broker regulator has confirmed he will be stepping down from his role as CEO later this month.
Mark White, head of the Financial Services Regulatory Authority of Ontario (FSRA), is vacating his position to take on his new role as Chair of the Ontario Energy Board.
White has led FSRA since May 2018, bringing extensive experience in regulation, risk management, governance, law and finance.
Prior to joining FSRA, he was Senior Vice-President & Head of Enterprise Risk at BMO, and also held roles at OSFI, RBC Capital Markets and Ernst & Young LLP.
During his tenure, White implemented Ontario’s title protection framework for financial advisors and planners, and introduced new private mortgage licensing requirements to enhance consumer protection.
This initiative was part of a broader effort to enhance consumer protection and ensure higher standards of practice within the mortgage brokering industry.
Interim CEO announced
FSRA has confirmed that Stephen Power will take over the role as interim CEO while the regulator undertakes its search for a permanent successor.
Power is the Executive Vice President of Corporate Services at FSRA and is responsible for leading finance, risk management, human resources, information technology, facilities planning and project management.
Additionally, FSRA board chair Joanne De Laurentiis has had her term extended for one year to ensure continuity during this transition period.