Does Ontario (eg Financial Services Commission of Ontario) have something like the UK's Financial Ombudsman Service's case fee? Note: "This is paid regardless of who’s [sic] fault or the outcome of the case."

Only around one in five of all the initial complaints and enquiries we receive go on to require more detailed work by our case-handling staff or ombudsmen. And it is only at that stage that a case becomes "chargeable".

We don't charge a business for the first 25 cases we deal with during the year. For the 26th and each subsequent complaint, we charge a case fee of £550.


My grandpa received this reply from FSCO:

The Financial Services Commission of Ontario (FSCO) doesn't charge a case fee for complaints. FSCO is a cost recovery agency, which means that the industry pays the cost of the regulatory services provided to all credit union and caisses populaires and their members. Ontario Regulation 11/01 of the Financial Services Commission of Ontario Act, 1997 establishes each institution’s share of the assessment. Each institution pays a portion of the cost recovery based on the percentage of its assets in proportion to the assets of the whole credit union system.

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