Charles Sousa of Ontario Ministry of Finance is part of this year's Wealth Professional Canada's Host List.
Ontario Ministry of Finance
In late April, Ontario Finance Minister Charles Sousa released the ruling Liberals’ first balanced budget in a decade. Those in investment circles were unsurprised by Sousa’s decision to shift regulation of syndicated mortgage investment products to the Ontario Securities Commission; that change was recommended last year by an expert panel, which argued that syndicated mortgages should be regulated like other securities. Sales of syndicated mortgages in Ontario have exploded in recent years, increasing to $6 billion in 2016, making Sousa’s decision to tighten oversight of this sector somewhat of a formality. Also included in the budget were other measures to try to cool the GTA market, including rent controls and a tax hike on speculators.
In late April, Ontario Finance Minister Charles Sousa released the ruling Liberals’ first balanced budget in a decade. Those in investment circles were unsurprised by Sousa’s decision to shift regulation of syndicated mortgage investment products to the Ontario Securities Commission; that change was recommended last year by an expert panel, which argued that syndicated mortgages should be regulated like other securities. Sales of syndicated mortgages in Ontario have exploded in recent years, increasing to $6 billion in 2016, making Sousa’s decision to tighten oversight of this sector somewhat of a formality. Also included in the budget were other measures to try to cool the GTA market, including rent controls and a tax hike on speculators.
