Today, the Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, announced the appointment of Shereen Miller as Commissioner of the Financial Consumer Agency of Canada (FCAC) for a five-year term, beginning on November 7, 2024.
The FCAC Commissioner plays a leading role advocating for the rights and interests of Canadians when accessing financial products and services, as well as works to improve the financial well-being of Canadians.
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“I extend my thanks to Ms. Miller for stepping up to advance Canadians’ rights and interests in their dealings with financial institutions across the country. Ms. Miller’s extensive experience in government, ensuring responsible regulatory oversight and developing relationships with businesses, will serve Canadians well as she delivers on FCAC’s mandate. I also wish to thank the outgoing interim Commissioner, Mr. Werner Liedtke, for his service over the past year.”
The Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance
Quick Facts
- The Financial Consumer Agency of Canada (FCAC) was established in 2001 to protect the rights and interests of consumers of federally regulated financial products and services, and strengthen Canadians’ access to financial literacy tools.
- As a regulator, FCAC monitors and supervises the compliance of financial institutions, external complaints bodies, and payment card network operators with consumer protection measures set out in legislation, public commitments, and codes of conduct.
- FCAC’s focus on protecting consumers complements the work of the Office of the Superintendent of Financial Institutions (OFSI). OFSI’s mandate is to regulate and supervise banks, insurance companies, and pension plans, by ensuring they maintain sound prudential standing, uphold robust governance and risk management practices, and meet or exceed their regulatory requirements.