Financial Consumer Agency of Canada Act

Marginal note:Confidential information

• 17 (1) Subject to subsection (2) and except as otherwise provided in this Act, information regarding the business or affairs of a financial institution or of the external complaints body or regarding persons dealing with a financial institution or with the external complaints body that is obtained by the Commissioner or by any person acting under the Commissioner’s direction, in the course of the exercise or performance of powers, duties and functions referred to in subsections 5(1) and (2) and 5.1(2), and any information prepared from that information, is confidential and shall be treated accordingly.

• Marginal note:Disclosure permitted

  (2) If the Commissioner is satisfied that the information will be treated as confidential by the agency, body or person to whom it is disclosed, subsection (1) does not prevent the Commissioner from disclosing it

  • (a) to any government agency or body that regulates or supervises financial institutions, for purposes related to that regulation or supervision;

  • (b) to any other agency or body that regulates or supervises financial institutions, for purposes related to that regulation or supervision;

  • (c) to the Canada Deposit Insurance Corporation or any compensation association designated by order of the Minister pursuant to subsection 449(1) or 591(1) of the Insurance Companies Act, for purposes related to its operation; and

  • (d) to the Deputy Minister of Finance or any officer of the Department of Finance authorized in writing by the Deputy Minister of Finance or to the Governor of the Bank of Canada or any officer of the Bank of Canada authorized in writing by the Governor of the Bank of Canada, for the purposes of policy analysis related to the regulation of financial institutions.

• Marginal note:Confidential information — payment card network operators

  (3) Subject to subsection (4) and except as otherwise provided in this Act, information regarding the business or affairs of a payment card network operator, or regarding persons dealing with one, that is obtained by the Commissioner or by a person acting under the direction of the Commissioner, in the course of the exercise or performance of powers, duties and functions under subsection 5(1.1) or (2.1), and any information prepared from that information, is confidential and shall be treated accordingly.

• Marginal note:Disclosure permitted

  (4) If the Commissioner is satisfied that the information will be treated as confidential by the person to whom it is disclosed, the Commissioner may disclose it to

  • (a) the Deputy Minister of Finance, or any officer of the Department of Finance authorized in writing by the Deputy Minister of Finance, for the purpose of policy analysis related to the regulation of payment card network operators; or

  • (b) the Governor of the Bank of Canada, or any officer of the Bank of Canada authorized in writing by the Governor of the Bank of Canada, for the purpose of carrying out the Bank of Canada’s objects under the Retail Payment Activities Act or, in relation to a provision of that Act that is not in force, for the purpose of planning to carry out those objects.

• Marginal note:Confidential information — participating entities, etc.

  (5) Subject to subsection (6) and except as otherwise provided in this Act, information regarding the business or affairs of a participating entity, the external complaints body or the technical standards body, or regarding persons dealing with a participating entity, the external complaints body or the technical standards body, that is obtained by the Senior Deputy Commissioner or by a person acting under the direction of the Senior Deputy Commissioner, in the course of the exercise or performance of powers, duties and functions under section 7.3, and any information prepared from that information, is confidential and must be treated accordingly.

• Marginal note:Disclosure permitted

  (6) If the Senior Deputy Commissioner is satisfied that the information will be treated as confidential by the agency, body or person to whom it is disclosed, subsection (5) does not prevent the Senior Deputy Commissioner from disclosing it

  • (a) to any government agency or body that regulates or supervises financial institutions or participating entities, for purposes related to that regulation or supervision;

  • (b) to any other agency or body that regulates or supervises financial institutions or participating entities, for purposes related to that regulation or supervision;

  • (c) to the Governor of the Bank of Canada or any officer of the Bank of Canada authorized in writing by the Governor of the Bank of Canada, for purposes related to the regulation or supervision of participating entities; and

  • (d) to the Deputy Minister of Finance or any officer of the Department of Finance authorized in writing by the Deputy Minister of Finance, for the purposes of policy analysis related to the regulation of financial institutions or participating entities.