Financial Consumer Agency of Canada Act

Marginal note:Regulations

• 19 (1) The Governor in Council may make regulations

  • (a) designating, as a violation that may be proceeded with under sections 20 to 31, the contravention of a specified consumer provision, or the non-compliance with

    • (i) a compliance agreement entered into under an Act listed in Schedule 1, and

    • (ii) terms and conditions, undertakings or directions referred to in subparagraph 3(2)(a)(ii).

  • (a.1) designating, as a violation that may be proceeded with under sections 20 to 31, the contravention of a specified provision of the Payment Card Networks Act or its regulations;

  • (a.2) designating, as a violation that may be proceeded with under sections 20 to 31, the non-compliance with an agreement entered into under section 7.1;

  • (b) fixing, in accordance with subsection (2), a penalty, or a range of penalties, in respect of any violation;

  • (c) respecting the service of documents required or authorized to be served under sections 20 to 31, including the manner and proof of service and the circumstances under which documents are deemed to be served; and

  • (d) generally, for carrying out the purposes and provisions of this section and sections 20 to 31.

• Marginal note:Maximum penalties

  (2) The maximum penalty for a violation is $50,000 in the case of a violation that is committed by a natural person, and $500,000 in the case of a violation that is committed by a financial institution or a payment card network operator.