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Government of Canada / Gouvernement du Canada

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Opens in new tabFinancial Consumer Agency of Canada (FCAC)

National Financial Literacy StrategyEcosystem Priority Details

All ecosystem priorities

Dashboard Findings, initiatives and adopters related to Priority 6:

The aim of this priority is to encourage stakeholders to strengthen and adapt consumer protection measures with a view to improving consumer outcomes in an increasingly digital financial marketplace.

Priority 6 - Target outcomes

Target outcome 12

Target outcome 6.1

More stakeholders in the financial services industry adopt concrete measures to prioritize financial consumer protection and the fair treatment of consumers, including the protection of consumer data, selling appropriate products and services, and effective complaint resolution.

Target outcome 6.2

More Canadians benefit from an appropriate level of consumer protection and market conduct standards whether they deal with new or existing providers of digital products, services, or practices.

Target outcome 6.3

More Canadians understand their rights and responsibilities when dealing with the financial services industry, and how and where to seek resolution when they experience a problem.

What FCAC will do

  • Lead by example in working across sectors to develop and test interventions that help stakeholders prevent financial fraud and protect consumer data.
  • Monitor and conduct research on emerging trends and issues in the financial sector to make evidence-based recommendations where gaps in consumer protection are identified.
  • Conduct public awareness campaigns to educate consumers on emerging risks/opportunities and promote knowledge of consumers’ rights and responsibilities, including how to resolve a complaint.

Disclaimer

The Financial Consumer Agency of Canada does not endorse, directly or indirectly, any adopters of the Measurement Plan, nor does it make any representations or warranties, express or implied, concerning the adopters' products or services or their fitness for a particular purpose.

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