As part of its mandate to provide regulatory services that protect the public and enhance confidence in the sectors it regulates, FSCO shares responsibility for overseeing the performance and compliance of the Ontario credit union and caisse populaire industry with the Deposit Insurance Corporation of Ontario (DICO).
In the fall of 2017, FSCO sent a mandatory questionnaire to all credit unions and caisses populaires designed to obtain information about their controls, policies and procedures in place to mitigate the risk of mis-selling retail products to their members. We have completed our analysis of the responses and produced a report on market conduct in the sector.
The report includes key findings from the questionnaire and contains recommended best practices. FSCO encourages credit unions and caisses populaires to use the report to benchmark their own policies and procedures, and to use the best practice recommendations to help close existing gaps.
Ontario Credit Unions and Caisses Populaires: 2017 Market Conduct Review Size: ## kb