Financial Consumer Agency of Canada 2018 to 2019 Fees Report

From: Financial Consumer Agency of Canada

Minister’s message

On behalf of the Financial Consumer Agency of Canada (FCAC), I am pleased to present our report on fees for fiscal year 2018 to 2019, my organization’s second annual report under the Service Fees Act.

The act provides a modern legislative framework that enables cost-effective delivery of services and, through better reporting to Parliament, improves transparency and oversight.

Last year, a detailed listing of individual fees under the department’s authority, along with anticipated increases, was added to the reporting requirements.

This year’s report provides more detail on each fee, such as the type and rate of adjustment, the service standard and the performance result. This information provides additional context on each fee, in the spirit of open and transparent fee management.

I welcome the increased transparency and oversight that the Service Fees Act’s reporting regime embodies. I will continue to lead my department’s transition to this modern framework.

The Honourable William Francis Morneau, P.C., M.P.
Minister of Finance

About this report

This report, which is tabled under section 20 of the Service Fees Act and section 4.2.8 of the Directive on Charging and Special Financial Authorities, contains information about the fees that FCAC had the authority to charge in the 2018 to 2019 fiscal year.

This report contains information about all fees that are under FCAC’s authority, even if some or all of the fees are collected by another department.

The information reported includes fees that:

  • fall under the Service Fees Act
  • are exempt from the Service Fees Act

The information covers fees set by:

  • contract
  • market-base, auction or both
  • act, regulation or fees notice

For fees set by the following mechanisms, the report provides totals only:

  • contract
  • market-base, auction or both

For fees set by act, regulation or fees notice, the report provides totals for fee groupings, as well as detailed information for each individual fee.

Although the fees charged by FCAC under the Access to Information Act are subject to the Service Fees Act, they are not included in this report. Information on FCAC’s access to information fees for fiscal year 2018 to 2019 can be found in our access to information report, which is posted on Access to Information and Privacy reports at Financial Consumer Agency.

Remissions

A remission is a partial or full return of a fee to a fee payer who paid for a service for which a department deemed that the service standard was not met.

Under the Service Fees Act, departments must develop policies for determining whether a service standard has been met and for determining how much of a fee will be remitted to a fee payer. This requirement does not take effect until April 1, 2020. This report therefore includes only those remissions issued under the FCAC’s enabling legislation. It does not include remissions issued under the Service Fees Act.

Overall totals, by fee type

The following table presents the total revenue, cost and remissions for all fees that FCAC had the authority to charge in fiscal year 2018 to 2019, by fee type.

Overall totals for fiscal year 2018 to 2019, by fee type
Fee type Revenue ($) Cost ($) Remissions ($)
Fees set by contract 0 0 Remissions do not apply to fees set by contract.
Fees set by market base, auction or both 0 0 Remissions do not apply to fees set by market base, auction or both.
Fees set by act, regulation or fees notice 20,581,683 20,581,683 0
Total 20,581,683 20,581,683 0

Totals for fees set by act, regulation or fees notice, by fee grouping

The following table presents, for each fee grouping, the total revenue, cost and remissions for all fees that FCAC had the authority to charge in fiscal year 2018 to 2019 that are set by any of the following:

  • act
  • regulation
  • fees notice

A fee grouping is a grouping of all of the fees that a department has the authority to charge for activities relating to a single business line, directorate or program.

Fees set by act, regulation or fees notice: totals for fiscal year 2018 to 2019
Fee grouping Assessments for the regulation and supervision of federally regulated financial entities.
Revenue ($) Cost ($) Remissions ($)
20,581,683 20,581,683 0

Details on each fee set by act, regulation or fees notice

This section provides detailed information on each fee that FCAC had the authority to charge in fiscal year 2018 to 2019 and that was set by any of the following:

  • act
  • regulation
  • fees notice
Fee grouping Assessments for the regulation and supervision of federally regulated financial entities.
Fee Base Assessment for Banks and Authorized Foreign Banks
Fee-setting authority Financial Consumer Agency of Canada Assessment of Financial Institutions Regulations SOR/2001-474
Year introduced 2001
Last year fee‑setting authority was amended 2013
Fee type Other Authorization – Assessment
Fee amount ($) Financial Consumer Agency of Canada Assessment of Financial Institutions Regulations SOR/2001-474, section 4
Total fee revenue ($) 18,341,195
Adjustment type Exempt
Adjustment rate (% or formula) Exempt
2020 to 2021 fee amount ($) Financial Consumer Agency of Canada Assessment of Financial Institutions Regulations SOR/2001-474, section 4
Future fee-adjusted amount ($) Not applicable
Adjustment date Not applicable
Fee‑adjustment authority Financial Consumer Agency of Canada Assessment of Financial Institutions Regulations SOR/2001-474
Service standard Not applicable
Performance result Not applicable
Fee grouping Assessments for the regulation and supervision of federally regulated financial entities.
Fee Base Assessment for Trust and Loan Companies
Fee-setting authority Financial Consumer Agency of Canada Assessment of Financial Institutions Regulations SOR/2001-474
Year introduced 2001
Last year fee‑setting authority was amended 2013
Fee type Other Authorization – Assessment
Fee amount ($) Financial Consumer Agency of Canada Assessment of Financial Institutions Regulations SOR/2001-474, section 5
Total fee revenue ($) 151,894
Adjustment type Exempt
Adjustment rate (% or formula) Exempt
2020 to 2021 fee amount ($) Financial Consumer Agency of Canada Assessment of Financial Institutions Regulations SOR/2001-474, section 5
Future fee-adjusted amount ($) Not applicable
Adjustment date Not applicable
Fee‑adjustment authority Financial Consumer Agency of Canada Assessment of Financial Institutions Regulations SOR/2001-474
Service standard Not applicable
Performance result Not applicable
Fee grouping Assessments for the regulation and supervision of federally regulated financial entities.
Fee Base Assessment for Retail Associations
Fee-setting authority Financial Consumer Agency of Canada Assessment of Financial Institutions Regulations SOR/2001-474
Year introduced 2001
Last year fee‑setting authority was amended 2013
Fee type Other Authorization – Assessment
Fee amount ($) Financial Consumer Agency of Canada Assessment of Financial Institutions Regulations SOR/2001-474, section 6
Total fee revenue ($) 0
Adjustment type Exempt
Adjustment rate (% or formula) Exempt
2020 to 2021 fee amount ($) Financial Consumer Agency of Canada Assessment of Financial Institutions Regulations SOR/2001-474, section 6
Future fee-adjusted amount ($) Not applicable
Adjustment date Not applicable
Fee‑adjustment authority Financial Consumer Agency of Canada Assessment of Financial Institutions Regulations SOR/2001-474
Service standard Not applicable
Performance result Not applicable
Fee grouping Assessments for the regulation and supervision of federally regulated financial entities.
Fee Base Assessment for Retail Associations
Fee-setting authority Financial Consumer Agency of Canada Assessment of Financial Institutions Regulations SOR/2001-474
Year introduced 2001
Last year fee‑setting authority was amended 2013
Fee type Other Authorization – Assessment
Fee amount ($) Financial Consumer Agency of Canada Assessment of Financial Institutions Regulations SOR/2001-474, section 6
Total fee revenue ($) 0
Adjustment type Exempt
Adjustment rate (% or formula) Exempt
2020 to 2021 fee amount ($) Financial Consumer Agency of Canada Assessment of Financial Institutions Regulations SOR/2001-474, section 6
Future fee-adjusted amount ($) Not applicable
Adjustment date Not applicable
Fee‑adjustment authority Financial Consumer Agency of Canada Assessment of Financial Institutions Regulations SOR/2001-474
Service standard Not applicable
Performance result Not applicable
Fee grouping Assessments for the regulation and supervision of federally regulated financial entities.
Fee Base Assessment for Insurance Companies
Fee-setting authority Financial Consumer Agency of Canada Assessment of Financial Institutions Regulations SOR/2001-474
Year introduced 2001
Last year fee‑setting authority was amended 2013
Fee type Other Authorization – Assessment
Fee amount ($) Financial Consumer Agency of Canada Assessment of Financial Institutions Regulations SOR/2001-474, section 7
Total fee revenue ($) 645,549
Adjustment type Exempt
Adjustment rate (% or formula) Exempt
2020 to 2021 fee amount ($) Financial Consumer Agency of Canada Assessment of Financial Institutions Regulations SOR/2001-474, section 7
Future fee-adjusted amount ($) Not applicable
Adjustment date Not applicable
Fee‑adjustment authority Financial Consumer Agency of Canada Assessment of Financial Institutions Regulations SOR/2001-474
Service standard Not applicable
Performance result Not applicable
Fee grouping Assessments for the regulation and supervision of federally regulated financial entities.
Fee Base Assessment for External Complaint Bodies & Payment Card Network Operators
Fee-setting authority Financial Consumer Agency of Canada Act, section 18
Year introduced 2001
Last year fee‑setting authority was amended 2013
Fee type Other Authorization – Assessment
Fee amount ($) Cost recovery of expenses
Total fee revenue ($) 1,443,045
Adjustment type Exempt
Adjustment rate (% or formula) Exempt
2020 to 2021 fee amount ($) Cost recovery of expenses
Future fee-adjusted amount ($) Not applicable
Adjustment date Not applicable
Fee‑adjustment authority Financial Consumer Agency of Canada Act, section 18
Service standard Not applicable
Performance result Not applicable
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