FSRA is actively reviewing all DICO regulatory direction, including but not limited to forms, guidelines and FAQs.

Until FSRA issues new regulatory direction, all existing regulatory direction remains in force.

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Other Powers


Effective October 1, 2009, DICO has the authority to issue specified compliance orders requiring a credit union to resolve specified weaknesses and deficiencies. In certain cases, DICO may also impose conditions of deposit insurance and administrative penalties. DICO has committed to administer these responsibilities in a fair and transparent manner, in accordance with established criteria.

Under the Act , DICO has a number of other powers that it may use as the circumstances require. These include the power to:

  • Impose conditions of deposit insurance;
  • Impose an administrative penalty for failure to perform specified requirements;
  • Apply to the court to set aside a restricted party transaction; and
  • Require a meeting of the directors of an Ontario credit union.