Regulatory Update: FCAC Priorities and Plan for 2014

May 28, 2014 9:45am

Kevin Thomas
Manager, Policy, Promotion and Research Division
Financial Consumer Agency of Canada (FCAC)

  • The latest guidance from FCAC on the Code of Conduct for the Credit and Debit Card Industry in Canada
    • Focus on special considerations in mobile payments
  • Plain language update from the FCAC on priorities, including:
    • timing and expectations,
    • considerations when they start reviewing documents,
    • what the critical principles mean,
    • guidance on how to make your agreements “plain language” by simplifying legal wording/concepts, without losing impact
  • Guidance on how the regulator views industry’s use of multi-vendor guidance for the Code:
    • examining grey areas, the main concepts, and key principles