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ARTICLE · 23 MAY 2018

FCAC Releases Report On Best Practices In Financial Consumer Protection

McCarthy Tétrault
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The Financial Consumer Agency of Canada ("FCAC") published on May 14, 2018 a Report on Best Practices in Financial Consumer Protection (the "Report").

CanadaFinance and Banking
Ana Badour
Ana Badour
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The Financial Consumer Agency of Canada ("FCAC") published on May 14, 2018 a Report on Best Practices in Financial Consumer Protection (the "Report").  This Report follows an in-depth review by the FCAC of the federal and provincial/territorial financial consumer protection regimes, including by way of consultations between the FCAC and provincial and territorial regulators.  The Report's conclusions are also informed by a review of international guidance including the G-20 High-Level Principles on Financial Consumer Protection. 

The Report was produced at the request of the Minister of Finance when the financial consumer protection provisions were removed from the Budget Implementation Act, 2016, No. 2 (Canada) (Bill C-29), and points to what changes to the Bank Act (Canada) and regulations may soon be introduced in order to establish a new Financial Consumer Protection Framework.

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