FSRA Consultation on Credit Union Market Conduct Framework Approach and Interpretation Guidance
The Financial Services Regulatory Authority of Ontario (FSRA) continues to promote high standards of business conduct and protect credit union members’ interests.
FSRA is holding a 45-day consultation on its Proposed Market Conduct Framework Approach and Interpretation Guidance.
The proposed Interpretation and Approach Guidance aims to:
- Protect members and depositors;
- Improve standards and best practices; and
- Enhance confidence in the sector.
The proposed Interpretation and Approach Guidance interprets the existing Standards of Sounds Business and Financial Practices (By-law No. 5) and section 102 of the Credit Unions and Caisses Populaires Act, 2020, once proclaimed to come into force. It clarifies that credit unions must have a framework in place that meets minimum market conduct standards. It also sets out FSRA’s supervisory approach.
FSRA invites the public and sector stakeholders to share feedback from June 28, 2021 to August 12, 2021.
- Proposed Credit Union Market Conduct Framework Guidance
- Deposit Insurance Corporation of Ontario (DICO) By-law No. 5
The Financial Services Regulatory Authority of Ontario (FSRA) is continuing to work with those we regulate to ensure financial safety, fairness and choice for consumers and members. Learn more at https://www.fsrao.ca/.