Sector Notices

2014 (no Sector Notice in 2013)

Notice Topic Highlights
Litigation Update:
Caisse populaire d’Iroquois Falls Inc.
  • Criminal convictions and judgments for civil fraud in the matter Of Caisse populaire d’Iroquois Falls Inc.
  • Judgement transcript
Litigation Update:
Croatian (Toronto) Credit Union Limited and Portuguese-Canadian Credit Union Limited
  • Criminal convictions and civil litigation in the matter of Croatian (Toronto) Credit Union Limited and ongoing civil litigation in the matter of Portuguese-Canadian Credit Union Limited
  • Sentencing transcripts (Croatian CU) - Vinski 4.5 years
  • Sentencing transcripts (Croatian CU) - Dubravko 2 years
System Vulnerability – "HEARTBLEED”
  • Insured institutions are by now aware of a material security vulnerability (nicknamed “Heartbleed” in the OpenSSL cryptographic library, a popular open-source code library for implementing encryption in websites, e-mail servers and applications, that may put systems that use this encryption method at risk. DICO is fully protected against Heartbleed.
Director Training and Qualifications: Director Focus Group and Planned Future Initiatives
  • Accompanying Letter
  • This Sector Notice provides a high level summary of the groups discussions, outlines initiatives to address some of the challenges noted and deals with the application of section 92 of the Credit Union and Caisses Populaires Act, 1994.


Notice Topic Highlights
Accompanying Letter to the Sector Notice regarding Director Training and Qualifications
  • Questions and considerations that directors may find helpful when reviewing implementation plans and supporting processes
Director Training and Qualifications
  • DICO’s expectations and assessment methodology
  • Summary of implementation strategies being implemented by some institutions


Notice Topic Highlights
Commercial Lending
  • Common Examination Findings
  • Credit Risk Management Policy and Practices