FCAC launches advisory committee to enhance financial consumer protection

By The IJ Staff | May 03 2017 09:45AM

Photo: Freepik

The Financial Consumer Agency of Canada (FCAC) has launched a new Consumer Protection Advisory Committee, aimed at strengthening financial consumer protection in Canada.

In a statement issued May 1, FCAC Commissioner Lucie Tedesco announced that the agency is seeking applicants to be part of the committee. The commissioner will be choosing who will be on the committee, which is expected to be composed of stakeholders from the public, private, non-profit and academic sectors.

Stakeholders from all sectors

"Protecting Canadian financial consumers is at the heart of FCAC's work,” said Tedesco. “As the financial marketplace continues to undergo rapid change, it is important that we remain proactive and agile in protecting Canadian financial consumers. I look forward to engaging stakeholders from all sectors to build their knowledge, expertise and wisdom as we pursue our core mission."

Committee members will be responsible for informing FCAC’s supervision work, research initiatives, and developing consumer education material. “In addition, members will share their perspectives on marketplace trends and emerging issues, concerns regarding the delivery of financial services, and how changes in the financial services sector are impacting Canadians,” says FCAC’s announcement.

Interested individuals may apply online.The application period is open until June 30, 2017.