Credit Unions and Caisses Populaires
Public comment closed
Comment Due Date


The Financial Services Regulatory Authority of Ontario (FSRA) continues to promote high standards of business conduct and protect credit union members’ interests.

FSRA is holding a 45-day consultation on its Proposed Market Conduct Framework Approach and Interpretation Guidance.


The proposed Interpretation and Approach Guidance aims to:

  • Protect members and depositors.
  • Improve standards and best practices; and
  • Enhance confidence in the sector.

The proposed Interpretation and Approach Guidance interprets the existing Standards of Sounds Business and Financial Practices (By-law No. 5) and section 102 of the Credit Unions and Caisses Populaires Act, 2020, onceproclaimed to come into force. It clarifies that credit unions must have a framework in place that meets minimum market conduct standards. It also sets out FSRA’s supervisory approach.  

The Canadian Credit Union Association (CCUA) has created a Market Conduct Code (MCC) to standardize conduct and protect member interests. The CCUA MCC meets the FSRA requirements. Credit unions that adopt the CCUA model will complete an annual self-assessment of, and attestation to, compliance with the MCC and report on the results to their boards.


FSRA invites the public and sector stakeholders to share feedback from June 28, 2021 to August 12, 2021.

Review the proposed Approach and Interpretation Guidance and provide your comments by selecting “Submit a comment or ask a question.”


Before we begin, please make sure you do not include any personal or private financial information. If your inquiry does require this information be shared with us, please call us at 1-800-668-0128 or email us at [email protected] for instructions.

By submitting your content, you agree to have your materials posted on our engagement portal, used in reports and other materials prepared by Financial Services Regulatory Authority of Ontario (FSRA) that may be shared with the public. Content is moderated so that all posts are respectful and professional. The Freedom of Information and Protection of Privacy Act, R.S.O. 1990, c.F.31, applies to all online content.

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Sector Comment Date posted Sort ascending
[2021-007] Nick Best - Canadian Credit Union Association (CCUA)

August 20, 2021
[2021-007] Consumer Advisory Panel (CAP)

August 20, 2021
Credit Unions and Caisses Populaires
[2021-007] Stephen Bolton - Libro Credit Union
Thank you for the opportunity to present our response to this public consultation. We appreciate the work from FSRA on this important policy and for the ongoing discussion related to market conduct and strengthening the sector for our Owner/Members in each area of the code. We look forward to FSRA's response to our questions of clarity within our formal response. We look forward to continued ongoing discussion.

August 12, 2021
[2021-007] Brigitte Catellier - Meridian Credit Union
Please see attached letter of comments. Thank you.
August 12, 2021
Credit Unions and Caisses Populaires
[2021-007] José Gallant - Alterna Savings

August 12, 2021
No questions have been asked about this consultation yet.