Regulation - LGIC

Modernizing the Credit Unions and Caisses Populaires Act

Regulation Number(s):
Ontario Regulation 237/09
Ontario Regulation 238/09
Instrument Type:
Regulation - LGIC
Bill or Act:
Credit Unions and Caisses Populaires Act 1994
Summary of Decision:
The new General Regulation under the Credit Unions and Caisses Populaires Act, 1994 was filed on June 19, 2009 and came into force on October 1, 2009.
Further Information:
Proposal Number:
Posting Date:
February 18, 2009
Summary of Proposal:
The draft regulations propose to do the following: strengthen governance in the sector; enhance the ability of credit unions to manage risk; streamline regulatory requirements while promoting effective regulatory oversight; create flexibility to pursue growth and innovation; and make sure updated consumer protection standards are in place.
Contact Address:
Deposit-Taking Institutions Unit Ministry of Finance 95 Grosvenor St. 4th Floor Toronto, ON M7A 1Z1 Telephone: 416-326-9217/Fax: 416-325-1187
Effective Date:
October 1, 2009