Consumer Protection Advisory Committee Terms of Reference

Publication date: February 3, 2020^{Footnote 1}

1. Purpose

The Consumer Protection Advisory Committee (“CPAC” or “Committee”) is composed of members appointed by the Commissioner of the Financial Consumer Agency of Canada (FCAC) to provide advice and share insights in support of FCAC’s financial consumer protection mandate on:

• FCAC priorities and objectives;
• emerging trends, issues and research; and
• other matters relevant to financial consumers.

2. Governance and membership

CPAC will have a maximum of 15 members.

Members are individuals with public, private or non-profit sector experience on matters of consumer protection in the areas of supervision, research, policy and education. The Commissioner may select members by an open application process or by soliciting specific candidates directly.

The Chair of CPAC is the Commissioner or the individual or individuals that the Commissioner may select from time to time.

In general, there will be two CPAC meetings a year. They can be in person or virtual, as determined by FCAC.

FCAC may authorize the Committee to form subcommittees to address specific matters. FCAC may invite non-members to attend CPAC meetings to discuss specific issues requiring outside expertise.

3. Secretariat services

FCAC provides secretariat services to the Committee, including convening and administering the CPAC meetings, preparing, approving and disseminating the meeting agenda and providing access to any related materials.

4. Responsibilities

4.1 Conduct

A member must act with honesty and uphold the highest ethical standards so that public confidence and trust in the integrity, objectivity and impartiality of the Commissioner and the FCAC as regulator and agency of the federal government are maintained.

4.2 Conflict of interest

It is the responsibility of each member to act in a manner that does not undermine the reputation of the Commissioner, the FCAC or CPAC and to avoid, report and address any situation involving CPAC-related work that may result in a real, potential or apparent conflict of interest.

4.3 Confidentiality

Members will maintain the confidentiality of the content of discussions and of any information, records or documents obtained for the purpose of the Committee’s work and will not discuss or disclose any content unless specifically approved by the FCAC. This requirement applies even after a member ceases to serve on CPAC.

4.4 Use of information

A member shall not directly or indirectly use or allow the use of information obtained in the course of the CPAC meetings for anything other than Committee-related activities. This requirement applies even after a member ceases to serve on CPAC.

5. Remuneration, travel and hospitality

There is no honorarium payable to attend CPAC meetings and members are expected to pay for their travel and accommodation costs.

Certain members may be eligible for reimbursement of travel and accommodation costs. Eligibility will be assessed by FCAC on a case-by-case basis. Any reimbursement is contingent on FCAC’s approval of travel arrangements prior to their booking and on the costs being in accordance with the National Joint Council’s Travel Directive and the Directive on Travel, Hospitality, Conference and Event Expenditures of the Treasury Board Secretariat.

6. Tenure and termination

Members are appointed to serve a term of two (2) years or such other duration as may be specified at the time of the appointment. A term may be extended to, but will not exceed, five (5) years.

Terms may be staggered so that a certain number of vacancies need to be filled in any one year. Terms may also be terminated by the Commissioner, by notice, with effect on the date that the Commissioner specifies, or by the member, by notice of resignation, with effect on the date that the Commissioner accepts the resignation.