Financial Consumer Agency of Canada Business Plan 2026–2027
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Financial Consumer Agency of Canada
427 Laurier Ave. West
Ottawa, ON K1R 7Y2
www.canada.ca/en/financial-consumer-agency
Cat. No. FC2-4E-PDF (Electronic PDF, English)
ISSN 2562-5896
© His Majesty the King in Right of Canada, as represented by the Minister of Finance Canada, April 2026.
Aussi disponible en français sous le titre : Plan d’activités 2026–2027
Message from the Commissioner
I am pleased to present the 2026–2027 Business Plan of the Financial Consumer Agency of Canada (FCAC or the Agency). It describes our priorities, activities and planned budget.
The work we do to protect financial consumers and strengthen financial literacy has never been more important. While most Canadians have a strong foundation of financial knowledge and benefit from robust protections when dealing with financial institutions, emerging trends point to growing vulnerabilities. Rising household debt, increasing incidents of financial fraud, a progressively complex payment landscape, and the rapid expansion of products and services that fall outside existing consumer protection frameworks all pose significant challenges.
These pressures—among others that the Agency closely monitors with its partners—highlight the importance of proactive consumer protection oversight. They also reinforce the importance of targeted financial education to help Canadians make informed and confident financial decisions.
FCAC is well positioned to respond. Guided by our Strategic Plan for 2026–2029, we will continue to leverage research and data-collection to generate robust insights into the needs, preferences, challenges, barriers, and lived experiences of financial consumers in Canada. These insights directly inform our regulatory, education and policy work, and enable the Agency to proactively identify practices that harm consumers and take timely, effective action to address them.
In the year ahead, we look forward to advancing government priorities to address affordability and empower consumers. This includes initiatives that promote greater competition in the financial sector, address the growing threat of financial fraud, and help reduce fees that place financial pressure on Canadians. We will also enhance protections for those who are most at risk, including by supporting the development of a Code of Conduct for the Prevention of Economic Abuse.
Strong partnerships are fundamental to advancing our mission. To that end, we will continue to deepen our domestic collaborations, bringing Canadian stakeholders together to tackle complex challenges and amplify our collective impact. By strengthening these relationships, we help build a more inclusive, transparent, and resilient financial system that better serves and protects all Canadians.
As ever, we are committed to organizational excellence. By embracing innovation and prioritizing efficiency, transparency and sound stewardship, we position the Agency to adapt to change and meet evolving consumer protection challenges. This commitment is reinforced by our continued investment in our workforce and a culture that values diversity, inclusion, well being, and continuous improvement.
The dedication, expertise and professionalism of FCAC employees underpin our success and our ability to deliver on our mandate. Above all, we are firmly focused on putting financial consumers at the centre of everything we do, and fostering trust in Canada’s financial system.
This business plan positions FCAC to navigate an evolving financial landscape and to deliver on its mandate with accountability and impact. We look forward to providing transparent reporting on our activities, outcomes, and the progress we make for Canadians.
Shereen Benzvy Miller
FCAC Commissioner
About FCAC
- Established in 2001 to protect the rights and interests of consumers of financial products and services
- Headed by a Commissioner appointed for a 5-year term by the Governor in Council
- Reports annually to Parliament through the Minister of Finance
- Supervises the market conduct of over 300 federally regulated financial entitiesFootnote 1
- Protects the rights of Canadian businesses that accept credit card and debit card payments
- Develops and implements the National Financial Literacy Strategy of Canada in collaboration with financial ecosystem stakeholders
- Provides information, resources and tools for financial consumers on Canada.ca
- Engages with Canadian and international partners and collaborators
- Funded through annual fees charged to regulated entities
- Employs approximately 260 employees
Our mission and mandate
Our mission
Our mission is to foster trust in Canada’s financial system by protecting financial consumers and empowering them to make informed decisions. Our work helps keep the financial system safe, fair, and strong for everyone.
Our mandate
As a federal agency, we are mandated to protect the rights and interests of consumers of financial products and services in Canada.
To fulfill our mandate, we:
- supervise the compliance of federally regulated financial entities with federal consumer protection laws, public commitments, and codes of conduct
- strengthen the financial literacy of Canadians
- monitor and evaluate trends and emerging issues that impact financial consumers
- provide information to Canadians on their rights and responsibilities, to help them make informed financial decisions
- conduct and leverage research to inform policy and legislative frameworks, and strengthen protections for financial consumers
These activities are carried out in collaboration with a wide range of stakeholders, both in Canada and internationally, including federal, provincial and territorial partners.
What are consumer protections?
Consumer protections are set out in legislation, public commitments and codes of conduct. They help to prevent financial harm to consumers and promote a fair financial marketplace. They include the rights of Canadians to receive banking products and services that are appropriate for their financial needs, and to file a complaint with financial institutions. Learn more about how FCAC protects financial consumers.
Our monitoring of the financial consumer environment
FCAC continuously monitors and analyzes trends and emerging issues that shape the financial consumer environment. This work helps us ensure that our strategies and interventions remain relevant and responsive to the evolving challenges Canadians face in their financial lives. Early identification of risks and opportunities enables FCAC to enhance supervisory oversight, support consumer education initiatives, and advance evidence-based policy development.
FCAC’s ongoing monitoring efforts focus broadly on 3 key areas:
1. Consumer behaviours and financial well-being
Canadians’ financial well-being depends on their ability to meet financial obligations, now and in the future. To assess this, we track spending habits, budgeting practices, and Canadians’ ability to withstand financial shocks, through trusted sources of data including national surveys such as FCAC’s Monthly Financial Well-being Monitor and the Canadian Financial Capability Survey. This work helps us identify risks such as over-indebtedness, low financial resilience, and limited financial or digital literacy—factors that can lead to poor financial outcomes for consumers.
2. Financial industry practices and trends
As innovation accelerates, the financial marketplace is evolving rapidly, creating both new opportunities and heightened risks for consumers. To keep pace with these changes, FCAC uses research, mandatory reporting, risk-based supervision, and ongoing engagement with industry, to monitor the market conduct of regulated entities, industry practices and emerging business models.
This proactive approach allows FCAC to identify issues early—such as misleading or untimely disclosures, inappropriate products and services being offered or sold to consumers, or emerging regulatory gaps—and take action to promote fair treatment and maintain a safe, transparent, and trustworthy financial marketplace.
3. Economic and environmental pressures
Canadians are facing growing pressures from economic and environmental developments. Inflation, the rising costs of living, and natural hazards like floods and wildfires put increasing strain on household budgets and financial security. Through close collaboration with regulatory authorities and partners, we track these trends to understand their impact on Canadians and respond proactively.
FCAC publishes information on its research, studies, and industry reviews on current and emerging issues affecting financial consumers.
In addition, research, data, and initiatives on financial literacy and consumer protection developed by FCAC and its partners are regularly added to FCAC’s Research and Data Exchange.
Our planning highlights for 2026–2027
The Agency delivers its planned activities through 2 core programs—the Supervision and Enforcement Program and the Research, Policy and Education Program—that are supported by internal services. Planned activities are aligned with FCAC's Strategic Plan for 2026–2029.
Strategic goal 1: Financial consumers and merchants are effectively protected
Description
FCAC plays a vital role in protecting the rights of financial consumers and merchants—businesses that accept credit card and debit card payments. These rights help ensure that Canadians are treated fairly and responsibly in their dealings with federally regulated financial entities (FRFEs or regulated entities). As a regulator, our supervisory approach is risk-based, and focused on regulated entities with a higher risk of non-compliance with their market conduct obligations and issues most likely to cause harm. We prioritize taking early, timely, and informed action, guided by research, insights and data analysis on industry practices and consumer trends. Building and maintaining strong partnerships is critical to the overall impact of our work.
Priorities and activity highlights for 2026–2027
1. Enhance proactive supervision
- Enhance FCAC’s risk-based focus on current and emerging consumer protection issues and the compliance of regulated entities. This includes monitoring market trends, assessing industry compliance, and proactively responding to identified compliance risks. FCAC will continue to collaborate with partners on key policy and oversight initiatives, such as those led by the Financial Institutions Supervisory Committee (FISC) and the Senior Advisory Committee (SAC).
- Respond to an evaluation of FCAC’s Reportable Compliance Issue (RCI) framework, to support effective risk-based supervision. RCIs are how FRFEs report their compliance issues to FCAC, and they are an important element of FCAC’s enforcement work.
- Conduct and monitor risk-based compliance examinations, reviews and investigations, and take supervisory actions to ensure regulated entities’ corrective measures and remediation efforts are implemented effectively.
- Leverage consumer insights and analysis to inform supervisory strategies, to enable early detection and prioritization of consumer risks.
2. Promote transparency in supervision and enforcement
- Communicate and monitor supervisory expectations on the implementation of complaint-handling requirements, to ensure consistency and transparency for all stakeholders. This includes engaging with regulated entities to promote understanding and compliance of updated regulatory expectations.
- Monitor and analyze data on corrective actions taken by regulated entities and publish the results, including on money returned to consumers who were harmed by compliance breaches. This work helps Canadians better understand how consumer protections are enforced and how regulated entities are held accountable.
- Promote public awareness of FCAC’s role in regulating the financial sector, through the timely and transparent sharing of supervisory insights and information on the practices and obligations of regulated entities, such as banks and payment card network operators.
3. Enhance collaboration
- Enhance collaboration with industry, by strengthening our engagement with regulated entities, clearly communicating priorities, expectations and guidance, and fostering open, ongoing dialogue that supports compliance.
- Enhance collaboration with supervisory authorities and other partners, by sharing best practices and aligning approaches to emerging risks. This includes enhancing federal-provincial coordination to address financial sector issues, while recognizing shared responsibilities across jurisdictions.
Strategic goal 2: Canadians are empowered to become more financially literate and resilient
Description
Building the financial well-being of Canadians is about enabling them to make the best possible financial choices for their circumstances, and to persevere through financial difficulties and unexpected life events. To achieve this important objective, FCAC continues to evolve its approach, combining targeted, evidence-based action and collaboration. We prioritize initiatives that strengthen financial literacy and resilience, while actively mobilizing and engaging stakeholders across the financial ecosystem. By bringing together partners and coordinating and inspiring collective action, we help Canadians overcome barriers, stay informed in a rapidly changing financial landscape, and build the confidence to navigate their financial lives successfully.
Priorities and activity highlights for 2026–2027
1. Mobilize and collaborate across the financial ecosystem
- Advance the renewal and implementation of the National Financial Literacy Strategy, by mobilizing federal, provincial and territorial partners, industry leaders, and ecosystem stakeholders through a targeted, national engagement strategy. The renewed strategy will emphasize collaboration to drive measurable improvements in financial well-being and resilience nationwide.
- Share and promote research, data, and initiatives related to financial literacy and consumer protection, including through FCAC’s Research and Data Exchange (RDX), to foster stakeholder collaboration and inspire innovative approaches that deliver positive outcomes for consumers.
2. Promote and provide financial information, tools and resources
- Implement a targeted plan to deliver user-friendly digital tools and resources to support financial consumers in their decision-making. This will be achieved by leveraging an ecosystem-mapping exercise and working with partners to identify gaps, avoid duplication, and amplify access to trusted, evidence-based tools and resources for Canadians.
- Increase the use and awareness of tools and resources for financial consumers through the development and implementation of communications, engagement, and marketing activities. Financial Literacy Month will continue to be a key driver to mobilize stakeholders and promote resources that empower Canadians to make informed financial decisions.
- Provide Canadians with timely and relevant information to help them understand financial products and services, and their rights when dealing with banks and other financial service providers.
- Enhance FCAC’s online presence with clear, unbiased and accessible information that Canadians can easily navigate and understand, including providing relevant resources on money and personal finances to empower informed financial decisions.
3. Drive positive behaviours
- Design, test, and scale targeted interventions to help Canadians adopt positive financial behaviours. Delivered with key partners and informed by consumer research and user experience insights, interventions include behavioural nudges, tools for simplified decision-making, financial literacy modules, and customized solutions that prioritize support for vulnerable and underserved populations.
4. Monitor impact and progress
- Engage FCAC’s networks and leverage FCAC’s measurement tools to generate actionable insights on financial well-being and resilience, track trends, identify emerging risks, assess ecosystem interventions, and inform evidence-based decisions. This includes tools such as the Measurement Plan for the National Financial Literacy Strategy.
Strategic goal 3: The interests of financial consumers are advanced in a fast-changing and competitive marketplace
Description
As financial products and services become more complex and increasingly digital, strong consumer protection is more important than ever. FCAC works with partners to advance the interests of Canadians by advocating for consistent, fair, and inclusive consumer protections that prioritize the financial well-being of consumers and keep pace with innovation. Through supervisory insights, research and collaboration, we inform and shape targeted interventions as well as financial sector policy and legislative frameworks, to help ensure consumers are protected and can make informed choices.
Priorities and activity highlights for 2026–2027
1. Drive progress through consumer-driven research
- Conduct and leverage research and develop insights on consumer behaviours and trends in financial services, and emerging and persistent consumer risks, such as over-indebtedness, lack of access to banking, innovations in artificial intelligence, and financial fraud, to inform evidence-based decision making.
2. Champion strong consumer protections
- Inform and shape policy and legislative initiatives that strengthen consumer protections and promote competition in the financial sector. These efforts will reflect our long-standing view that consumers must receive fair, inclusive, and equitable protections as markets evolve.
- Study the structure, level, and transparency of fees charged by Canadian banks and other federally regulated financial institutions, including transfer and ATM fees. The findings will help inform actions to empower Canadians to make more informed choices, and lower their everyday banking costs.
- Work with federal partners to support the development of a Code of Conduct for the Prevention of Economic Abuse for federally regulated banks. FCAC will oversee the code, which will set clear expectations for how banks can identify, prevent, and respond to economic abuse, to better protect Canadians.
- Support the Budget 2025 measures to combat financial fraud and develop a whole-of-government National Anti-Fraud Strategy. This includes measures requiring banks to have policies and procedures in place to address consumer-targeted fraud, and to collect and report fraud data to the FCAC Commissioner.
Our foundational capabilities
FCAC has identified 3 foundational capabilities that form the core strengths that enable the Agency to deliver on its strategic goals and priorities. These capabilities work together to ensure that everything we do is grounded in strong expertise, evidence, and the ability to adapt in a rapidly evolving financial landscape.
1. Technology and data
Description
We leverage technology solutions and data-driven insights to monitor and evaluate emerging trends and issues that impact financial consumers, enable proactive and effective interventions, and improve internal business processes.
Activity highlights for 2026–2027
- Make strategic investments in data analytics and artificial intelligence, to enhance operational efficiency, drive innovation, and improve employee productivity and experiences. A key priority will be equipping FCAC employees with the necessary skills to effectively leverage technology solutions.
- Maintain and modernize FCAC’s digital services and tools, to support core operations, strengthen business functions, and enable effective communication and engagement with stakeholders and Canadians.
2. Partnerships
Description
We actively build and strengthen partnerships across the financial ecosystem, to foster collaboration, share knowledge, and align efforts toward common goals. By leveraging these relationships domestically and at the international level, we aim to deliver meaningful outcomes for Canadians.
Activity highlights for 2026–2027
- Continue to collaborate with Canadian and international stakeholders, to advance consumer protection, strengthen financial literacy, and improve outcomes for financial consumers in Canada. This includes deepening engagements with a wide range of partners and collaborators that make up the financial ecosystem, to broaden our reach and amplify our impact.
3. Organizational excellence
Description
We strive for organizational excellence by continually building a diverse and highly skilled workforce, and cultivating a culture that values employee well-being, to boost the Agency’s effectiveness and flexibility.
Activity highlights for 2026–2027
- Build and sustain a diverse, skilled workforce and promote employee well-being through continuous learning opportunities and by implementing action plans in areas such as official languages, mental health and wellness, and equity, diversity, inclusion, and accessibility.
- Support and advance workforce renewal measures, to improve services to Canadians and achieve a more efficient and empowered public service, as part of government-wide efforts to reinvest in core mandate priorities to ensure cost-effective results.
- Continue to strengthen FCAC’s security posture—our overall readiness to prevent, detect, and respond to security risks—by implementing a Security Road Map and ensuring alignment with Government of Canada policies and readiness against emerging threats.
Our spending and human resources
This section provides a holistic view of the Agency’s planned spending and human resources for the next 3 fiscal years and compares planned spending for the upcoming years with the current year’s forecasted spending and previous years’ actual spending. The Agency uses the full accrual method of accounting to prepare and present its annual expenses.
As it executes on its plans, FCAC will continue to demonstrate financial discipline and exercise prudent financial management practices.
Planned spending
FCAC is a federal government agency that recovers its costs through assessments against the regulated entities it supervises.
The following table shows actual, forecasted, and planned spending for FCAC’s 2 programs—the Supervision and Enforcement Program and the Research, Policy and Education Program— and Internal Services. Internal Services include the expert advice and services provided by the Agency’s marketing, communications, stakeholder relations, legal, human resources, information technology, finance, and administration teams, which support FCAC’s programs and other corporate obligations.
| Programs and Internal Services | 2023–2024 actual expenses | 2024–2025 actual expenses | 2025–2026 forecasted expenses | 2026–2027 planned expenses | 2027–2028 planned expenses | 2028–2029 planned expenses |
|---|---|---|---|---|---|---|
| Supervision and Enforcement | $11.5 | $12.3 | $13.2 | $15.4 | $16.0 | $16.3 |
| Research, Policy and Education | 8.0 | 8.3 | 11.2 | 17.5 | 19.3 | 19.8 |
| Subtotal | 19.5 | 20.6 | 24.4 | 32.9 | 35.3 | 36.1 |
| Internal Services | 34.0 | 36.6 | 40.8 | 38.7 | 38.2 | 38.7 |
| Total | $53.5 | $57.2 | $65.1 | $71.6 | $73.5 | $74.8 |
Note: Totals may not add due to rounding. Expenses are presented on an accrual basis.
The Agency’s 2025–2026 Business Plan identified total spending of $76.4 million. The variance between the planned expenses of $76.4 million and the forecasted expenses of $65.1 million is mainly the result of staffing delays and reduced spending in professional services.
For the 2026–2027 to 2028–2029 period, no growth in overall spending is planned over the amounts approved in the 2025–2026 Business Plan for 2026–2027 and 2027–2028.
As part of the government’s Comprehensive Expenditure Review, FCAC conducted a thorough assessment of its programs and operations and identified $5 million in cost efficiencies across key operational areas. The savings will be reinvested to accelerate the deployment of modern technology solutions, including enhanced data optimization and advanced AI capabilities, to improve supervisory effectiveness.
FCAC has historically received an annual statutory authority of $5 million to support financial literacy initiatives. As part of the comprehensive expenditure review, FCAC will no longer access this statutory authority. FCAC will continue to deliver its financial literacy work—including national campaigns, targeted outreach, and research—by optimizing its cost-recovery funding model.
The following table is used to calculate the Agency’s funding requirements by reconciling planned expenses calculated on an accrual basis to its funding requirements on a cash basis. The requested funding line represents the Agency’s costs of operation, including both operating and capital expenditures, which may be requested as advance amounts out of the Consolidated Revenue Fund.
| 2026–2027 | 2027–2028 | 2028–2029 | |
|---|---|---|---|
| Planned expenses | $71.6 | $73.5 | $74.8 |
| Adjustment for items affecting the cost of operations but not affecting authorities: | |||
Amortization of tangible capital assets |
(2.0) | (1.9) | (1.3) |
Allowance for bad debt |
|||
Gain (loss) on disposal of tangible capital assets |
|||
Increase in employee future benefits |
(0.2) | (0.2) | (0.2) |
| Adjustment for items not affecting the cost of operations but affecting authorities: | |||
Acquisition of tangible capital assets |
1.5 | 1.1 | 1.0 |
| Planned expenditures | 70.9 | 72.5 | 74.2 |
| Requested funding | $70.9 | $72.5 | $74.2 |
Note: Totals may not add up due to rounding.
Planned human resources
| Programs and Internal Services | 2023–2024 actual full-time equivalents | 2024–2025 actual full-time equivalents | 2025–2026 forecasted full-time equivalents | 2026–2027 planned full-time equivalents | 2027–2028 planned full-time equivalents | 2028–2029 planned full-time equivalents |
|---|---|---|---|---|---|---|
| Supervision and Enforcement | 71 | 75 | 78 | 81 | 82 | 82 |
| Research, Policy and Education | 44 | 44 | 57 | 63 | 63 | 63 |
| Subtotal | 115 | 119 | 135 | 144 | 145 | 145 |
| Internal Services | 117 | 123 | 134 | 115 | 114 | 114 |
| Total | 232 | 242 | 269 | 259 | 259 | 259 |
Note: Totals may not add up due to rounding.
In 2025–2026, the Agency’s workforce increased to 269 full-time equivalents (FTEs) with the addition of employees to support consumer-driven banking (CDB). Following the transfer of CDB responsibilities to the Bank of Canada, CDB positions were eliminated, returning the Agency to its previously approved baseline of 259 FTEs.
Future-oriented condensed statement of operations
The future-oriented condensed statement of operations provides an overview of FCAC’s operations for fiscal year 2025–2026 to fiscal year 2026–2027.
The forecast for financial information related to expenses and revenues is prepared on an accrual accounting basis to strengthen accountability and to improve transparency and financial management.
A more detailed future-oriented statement of operations and associated notes, including a reconciliation of the net cost of operations to the requested authorities, is available on FCAC’s website.
| Financial information | 2025–2026 forecast results |
2026–2027 planned results |
Difference (2026–2027 planned results minus 2025–2026 forecast results) |
|---|---|---|---|
| Total expenses | $65.1 | $71.6 | $6.5 |
| Total revenues | 57.2 | 71.6 | 14.4 |
| Net cost of operations before government funding and transfers | $7.9 | $0.0 | ($7.9) |
Contact us
Website: Canada.ca/fcac
Telephone (Consumer Services Centre):
Toll-free: 1-866-461-3222
ln Ottawa or outside Canada: 613-960-4666
TTY (for persons with hearing impairment):
Toll-free: 1-866-914-6097
ln Ottawa or outside Canada: 613-947-7771
Email: Contact us
Facebook: FB.com/FCACan
LinkedIn: fcac_can
Instagram: fcac_can
X (formerly Twitter): @FCACan
YouTube: FCACan
Postal address:
Financial Consumer Agency of Canada
427 Laurier Avenue West
Ottawa, Ontario K1R 7Y2
Annex A: Departmental results framework
As per the Treasury Board of Canada’s Policy on Results, Government of Canada entities are expected to identify core responsibilities, describing at a high level what the organization does, what it is trying to achieve, and how it will assess its progress.
FCAC’s core responsibility is to protect financial consumers. It achieves this by implementing 2 programs: ‘‘Supervision and Enforcement’’ and ‘’Research, Policy and Education.’’ The Agency’s budgetary resources, employees, and activities are organized around this core responsibility and 2 enabling programs.
Figure 1.
Figure 1 - Text version
Core responsibility: Protection of financial consumers
Departmental Results Framework
Departmental Result: Regulated entities comply with consumer protection measures
- Indicator: Percentage of FCAC’s supervisory actions in response to non-compliance that are completed on time
- Indicator: Percentage of FCAC’s supervisory actions that have resulted in the correction of non-compliance
- Indicator: Percentage of inquiries received by FCAC from FRFEs responded to within established timelines
- Indicator: Percentage of FCAC’s reporting obligations and expectations met by FRFEs
Program: Supervision and Enforcement
Departmental Result: Canadians’ financial resilience is improved
- Indicator: Percentage of Canadians demonstrating positive financial knowledge, attitudes, and behaviours
- Indicator: Percentage of Canadians demonstrating good financial well-being
- Indicator: Percentage of proposed FCAC activities from the National Financial Literacy Strategy that are advanced by FCAC’s initiatives
- Indicator: Number of ecosystem initiatives (FCAC and stakeholders) that aim to contribute to any outcome of the National Financial Literacy Strategy
Program: Research, Policy and Education
Core responsibility: Protection of financial consumers
FCAC protects financial consumers by overseeing the market conduct of federally regulated financial institutions—including Canada’s banks, federally regulated trust and loan companies, insurance companies, credit unions, external complaints body, and payment card network operators—to ensure that consumers’ rights are protected. The Agency also monitors developments and trends in the financial sector, promotes public awareness of all matters related to protecting consumers of financial products and services, and makes recommendations, including policy recommendations, to the government on issues relevant to financial consumers and industry. In addition, the Agency conducts research and creates and deploys educational material relating to protecting and improving the well-being of financial consumers.
| Departmental result | Departmental result indicator | Target | Date to achieve target |
|---|---|---|---|
| Regulated entities comply with consumer protection measures | Percentage of FCAC’s supervisory actions in response to non-compliance that are completed on time | At least 95% | 2027-03-31 |
| Percentage of FCAC’s supervisory actions that have resulted in the correction of non-compliance |
At least 95% | 2027-03-31 | |
| Canadians’ financial resilience is improved | Percentage of Canadians demonstrating positive financial knowledge, attitudes, and behaviours |
60% | 2027-03-31 |
| Percentage of Canadians demonstrating good financial well-being |
60% | 2027-03-31 |
Program no. 1: Supervision and Enforcement
This program promotes, monitors and enforces compliance on the part of regulated entities, subject to market conduct obligations established by legislation, codes of conduct, and public commitments.
| Program outcome | Program outcome indicator | Target | Date to achieve target |
|---|---|---|---|
| Federally regulated financial entities (FRFEs) are compliant with consumer protection legislation, their public commitments, and codes of conduct | Percentage of inquiries received by FCAC from FRFEs that are responded to within established timelines | 80% of inquiries received by FCAC from FRFEs are responded to within 30 calendar days of receipt | 2027-03-31 |
| Percentage of FCACs reporting obligations and expectations that are met by FRFEs | At least 85% | 2027-03-31 |
Program no. 2: Research, Policy and Education
This program strengthens the financial literacy and resilience of Canadians. Working with stakeholders (that is, through mobilizing the financial ecosystem), it relies on evidence-based research and collaboration to propose policies, educate consumers, and encourage Canadians to take beneficial financial actions. The scope of this program is covered comprehensively by the National Financial Literacy Strategy (specifically, measuring indicators related to the National Financial Literacy Strategy captures all the target outcomes for the program).
| Program outcome | Program outcome indicator | Target | Date to achieve target |
|---|---|---|---|
| Actively support the financial resilience of Canadians, including through mobilizing the financial ecosystem |
Percentage of proposed FCAC activities from the National Financial Literacy Strategy that are advanced by FCAC’s initiatives | 100% by the end of the National Financial Literacy Strategy cycle | 2027-03-31 |
| Number of ecosystem initiatives (FCAC and stakeholders) that aim to contribute to any outcome of the National Financial Literacy Strategy | Year-over-year improvement within the National Financial Literacy Strategy cycle | 2027-03-31 |
Annex B: Evaluation plan
FCAC’s evaluation plan sets out our evaluation priorities and project schedule for 2026–2027 to 2030–2031. It is aligned with the Policy on Results and the Financial Administration Act, and helps to ensure evaluations are timely, relevant, and support senior management in making evidence-based decisions.
2026–2027
IM/IT delivery model
- Evaluate the effectiveness of the IM/IT project and product delivery model
Core control self-assessment*
- Assess compliance with federal financial management policies related to travel, hospitality and accountable advances
2027–2028
Cyber security
- Evaluate the posture and effectiveness of FCAC's cyber security implementation and processes
2028–2029
Accessibility
- Evaluate the effectiveness of incorporating accessibility into all IM/IT products
2029–2030
Whistleblower program
- Evaluate the effectiveness of FCAC's whistleblower program
2030–2031
Risk-based supervisory strategy
- Evaluate the effectiveness of the risk-based supervisory strategy
* Core control self-assessments supplement the core control audit conducted by the Office of the Controller General. These provide FCAC with a means to assess and improve the subset of critical controls between audit cycles. The self-assessment topics beyond 2026–2027 are unknown.