Guidance to improve the credit union sector now out for public consultation
The Financial Services Regulatory Authority of Ontario (FSRA) is consulting on proposed guidance to better protect the rights and interests of credit union depositors, members and consumers. The Credit Unions and Caisses Populaires Act, 2020 (CUCPA 2020) permits a broad scope of business and investment activities which, in some cases, must be approved by FSRA.
This Proposed Approval or Authorization of Business and Investment Activities Guidance sets out FSRA’s approach for approving or authorizing business and investment activities under the CUCPA 2020. It provides the sector with more clarity, transparency and certainty on FSRA’s approvals considerations and will help make sure proposed activities align with the credit union’s business and governance models.
The proposed Guidance is available on FSRA’s website. FSRA invites stakeholders and the public to provide feedback until March 31, 2022.
- Proposed Approval or Authorization of Business and Investment Activities Guidance – Consultation Page
FSRA continues to work on behalf of all stakeholders, including consumers, to ensure financial safety, fairness, and choice for everyone. Learn more at www.fsrao.ca.
For media inquiries:
Senior Media Relations and Digital Officer
Financial Services Regulatory Authority