Webinar on Ontario's Proposed New Credit Union Rules

The Financial Services Regulatory Authority of Ontario (FSRA) launched consultations on three new Rules to make supervising credit unions more effective and transparent:

To support the public consultation and provide additional detail on the proposed Rules, FSRA hosted a live webinar on June 24, 2021.

Speakers:

  • Mark White, Chief Executive Officer
  • Guy Hubert, Executive Vice President, Credit Union & Prudential
  • Alena Thouin (Emcee), Director, Policy Support and Approvals
  • Daniel Padro, Director, Policy – Credit Union
  • Bradley Hodgins, Senior Manager, Policy and Research

The presentations highlighted the proposed structure and content of each Rule, key factors influencing the proposed changes, how each Rule differs from the current requirements, and considerations for implementation.

Over 330 participants tuned in and had an opportunity to ask questions directly to the FSRA team. Topics included:

  • Expectations of board governance, risk management, and oversight functions;
  • Independence and proportionality;
  • Asset classifications and risk weighting rationales; and
    Implementation periods and transition timelines.

If you require an Accessibility for Ontarians with Disabilities Act, 2015 (AODA)-approved accommodation, descriptive transcript or recording, please write to contactcentre@fsrao.ca.

Credit Union technical briefing

FSRA response to audience questions