Financial and Consumer Affairs Authority (FCAA) protects consumer and public interests and supports economic well-being through responsive marketplace regulation. We protect Saskatchewan consumers by regulating financial products and service providers in an effective, efficient and balanced manner.
FCAA plays an essential role in the growth, development and strength of our economy. The FCAA’s regulatory functions include both prudential and market conduct regulation. Prudential regulation addresses the financial soundness of those regulated, while market conduct regulation refers to supervising compliance related to consumer protection provisions including disclosure, confidentiality, fair practices and prohibited methods of doing business.
Financial services regulation is important for the integrity, efficiency and transparency of the financial services sector. The fall-out of the 2008 market turmoil provides ample evidence that a stable marketplace resultant of effective regulation is necessary to ensuring a secure economic infrastructure.
With the addition of the Consumer Protection Division in 2011, FCAA has broadened its focus to promoting an environment in which all Saskatchewan consumers and businesses can be confident.
The mandate of FCAA is to oversee the protection of consumer interests through licensing, registration, audit, complaint handling and enforcement activities pursuant to various provincial statutes.
Licensing and Registration
We license and register more than 19,000 entities and individuals in Saskatchewan across a wide variety of industries to make sure they are suitable for our marketplace.
Audit and ComplianceWe review prospectuses of businesses who wish to raise capital from the public. We routinely conduct audits to make sure that businesses and individuals are complying with Saskatchewan laws and meeting their obligations to consumers.
Market Conduct and Complaint Handling
Every day we receive, review and investigate consumer complaints to determine whether rules have been violated. In appropriate cases, we work to mediate solutions for all parties or to recommend further courses of action.
Sometimes the information we receive from complaints, audits and compliance activities, or from other sources shows that people or entities have violated the rules. We use our legislated authority to hold these persons to account through the imposition of regulatory sanctions or by collaborating with law enforcement.