The mandate reviews were announced as part of the 2014 Ontario Fall Economic Statement. A panel of experts has not been established to take the lead on the mandate reviews:
- George Cooke - former president and CEO of The Dominion of Canada General Insurance Company, and current chair of the board of directors of OMERS Administration Corp.
- James Daw - former Toronto Star personal finance columnist who has written extensively about all facets of Ontario's financial system.
- Larry Ritchie - Osler, Hoskin & Harcourt LLP partner and former vice-chair of the Ontario Securities Commission.
The review will include broad consultations with the financial services sectors regulated by FSCO including the insurance sector and pension plans. As well, a consultation paper will be posted online and the public will be invited to comment on the issues being examined. The government will consider any necessary legislative changes based on the outcomes of the review. The government expects the review to be completed by early next winter.