Consultation on Publishing Principles for FCAC Decisions
Closed
This consultation is closed.
Publishing Principles
Publishing enforcement actions (e.g., violations) is part of FCAC’s robust supervision framework. Publication promotes awareness of FCAC’s activities and informs stakeholders about the market conduct of regulated entities.
1.0 Violations
FCAC makes public information about violations once all proceedings with respect of the violation are complete, including any appeals to the Federal Court.
The Commissioner will always make public the nature of the violation and the AMP imposed. The Commissioner will decide, on a case-by-case basis, whether to exercise discretion to also make public a regulated entity’s name.
1.1 Public disclosure of violations without the name of the regulated entity
When the Commissioner exercises discretion against making public the name of a regulated entity that has committed a violation, FCAC will publish a redacted version of the Notice of Violation or Notice of Decision. Where necessary, information may be redacted on privacy or confidentiality grounds; FCAC will provide the regulated entity with advance notice of the redacted version before it is posted.
The Commissioner may issue a press release.
1.2 Public disclosure of violations with the name of a regulated entity
When the Commissioner exercises discretion to make public the name of a regulated entity that has committed a violation, FCAC will publish the final copy of the Notice of Violation or Notice of Decision, including the facts of the violation. Where necessary, information may be redacted on privacy or confidentiality grounds; FCAC will provide the regulated entity with advance notice of the redacted version before it is posted.
The Commissioner may issue a press release.
2.0 Non-adherence to a voluntary code of conduct or public commitment
If a regulated entity has breached its obligations under a voluntary code of conduct or public commitment and FCAC has issued Notice of Non-Compliance, FCAC will publish anonymous information about the non-adherence, including the facts of the case. Where necessary, information may be redacted to protect consumers’ privacy or to remove confidential or commercially sensitive business information; FCAC will provide the regulated entity with advance notice of the redacted version before it is posted.
The Commissioner may issue a press release.