FCAC is headed by a Commissioner, who is appointed by the Government of Canada for a period of up to five years. The Commissioner reports annually to Parliament, through the Minister of Finance, on the Agency's activities and on the performance of financial institutions in complying with consumer protection measures.
Lucie Tedesco is Acting Commissioner of FCAC.
The responsibilities of the FCAC Commissioner include:
The Commissioner has the power to issue a Notice of Violation if a financial institution doesn't comply with its legislated consumer obligations. The Commissioner can make public the nature of the violation and decide whether a monetary penalty of up to $500,000 will be applied.
For an overview of the decisions the Commissioner has made, visit our Commissioner's Decisions section.