Reference Documents

FCAC Compliance Framework

Overview of FCAC activities undertaken to supervise compliance by financial institutions with consumer provisions set out in legislation, and to monitor financial institutions' adherence to their industry voluntary codes of conduct and public commitments.

Summary of the key changes and feedback received during the consultation process. FCAC's comments on the feedback are included.

Clear Language and Presentation Principles and Guidelines for the Industry and information box examples for the Cost of Borrowing Regulations

Following the announcement of the proposed amendments to the plain language provision of the Cost of Borrowing Regulations, the Compliance and Enforcement Branch, at the request of the Commissioner of FCAC, created principles to serve as guidance to the industry in creating its documentation.

Information Box Examples

The government’s introduction of new Cost of Borrowing Regulations includes provisions for information disclosure boxes; in consultation with the Department of Finance Canada, FCAC has also developed examples of information boxes to further guide the industry.

These information boxes are intended to be generic examples of information boxes. It is the responsibility of each federally regulated financial institution to ensure that all of their disclosure documentation meet the regulatory requirements

Consumers and Debit Cards Canadian Code of Practice for Consumer Debit Card Services

The Canadian Code of Practice for Consumer Debit Card Services was developed in 1992 and was revised in 1996. In January 2002, a guide to the interpretation of Section 5, Liability for Loss, was agreed to and added as Appendix A, by the Electronic Funds Transfer Working Group - a group made up of representatives from consumer organizations, financial institutions, retailers and federal and provincial governments.

The code was further revised in 2004 to clarify the procedures for addressing unauthorized transactions and other transaction problems.

• Click here to view the Canadian Code of Practice for Consumer Debit Card Services.