Protecting financial consumers and merchants
Laws, regulations, codes and public commitments
Federally regulated financial entities (FRFI) are subject to various obligations under specific acts, regulations, codes of conduct and public commitments. Under our mandate, the Financial Consumer Agency of Canada (FCAC) oversees a number of these.
FCAC publishes the Commissioner's Decisions in their original form, with minimal revisions, according to a set of principles.
This section of the website presents the Commissioner's Guidance — that is, explanations of issues pertaining to acts, regulations and related policies, and how FCAC intends to apply them. While a Commissioner's Guidance in a publication or a guidance document may provide insight, it is not a substitute for the law. It will be of interest to REs wishing to follow industry guidance.
The Compliance Bulletins are information provided to federally regulated financial entities (REs) to describe how the Supervision and Promotion Branch views the broad requirements of legislation, regulations, codes of conduct or public commitments, and how it will drive the Supervision and Promotion Branch to action with REs on compliance matters. This is not an official interpretation of FCAC.
From time to time, FCAC may request that the Supervision and Promotion Branch undertake a consultative process to gather the stakeholder’s opinion on a specific issue or project.
An industry review is an activity performed by the Supervision and Promotion Branch to gather information from federally regulated financial institutions on a specific compliance matter. The Supervision and Promotion Branch conducts these reviews when a compliance issue has been identified as being industry-wide.
Special initiatives include supervisory compliance actions where the Supervision and Promotion Branch has been directed by the Commissioner to obtain information from the entities we regulate concerning their level of compliance with a regulatory requirement, code of conduct or public commitment.
This section provides information for existing regulated entities.
Forms and guides
This section provides important documents, forms and questionnaires that may apply to your federally regulated financial entity published by the Supervision and Promotion Branch.
Introduction letters for newly regulated entities
The introduction letter reviews some of the obligations of a federally regulated financial entity.
The Compliance Framework outlines the various ways FCAC oversees compliance pursuant to the Financial Consumer Agency of Canada Act. It is meant to provide users with a broad overview of the framework and allows users to navigate through additional levels of detail, as needed.
FCAC will supervise regulated entities in accordance with the updated Supervision Framework following its implementation in 2018. The Supervision Framework summarizes FCAC’s legislative mandate, describes the entities that FCAC regulates and highlights FCAC’s risk-based approach to oversight. Finally, this document explains the activities and tools that FCAC leverages to fulfill its supervisory mandate.
Consumer Protection Advisory Committee
The Consumer Protection Advisory Committee (CPAC) provides guidance and advice to the Commissioner in carrying out the Agency’s financial consumer protection mandate. Members inform FCAC’s supervision work, research initiatives and the development of consumer education material. They also share their perspectives on marketplace trends, the delivery of financial services, and the impact of changes in the financial services sector on Canadians.
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