Guidance for improving the credit union sector now available for public comment
TORONTO, February 17, 2022 /CNW/ – The Financial Services Regulatory Authority of Ontario (ARSF) is consulting on proposed guidelines to better protect the rights and interests of credit union depositors, members and consumers. the Credit Unions and Caisses Populaires Act, 2020 (CUCPA 2020) authorizes a wide range of business and investment activities which, in some cases, must be approved by FSRA.
This Proposed Guidelines on the Approval or Authorization of Business and Investment Activities sets out ARSF’s approach to the approval or authorization of business and investment activities under the CUCPA 2020 It provides the sector with more clarity, transparency and certainty on FSRA approval considerations and will help ensure that proposed activities align with the credit union’s business and governance models. .
The Guide is available at FSRA website. FSRA invites sstakeholders and the public to provide feedback until March 31, 2022.
FSRA continues to work on behalf of all stakeholders, including consumers, to ensure financial security, fairness and choice for all. Learn more about www.fsrao.ca.
SOURCE Financial Services Regulatory Authority of Ontario
For further information: For media inquiries: Russ Courtney, Senior Media Relations and Digital Officer, Financial Services Regulatory Authority, C: 437-225-8551, Email: [email protected]