Annual lists 2004 2003 2002 2001 2000 1999 1998 1997 1996 1995

Ottawa, October 18, 2001
2001-091 

First Commissioner of Financial Consumer Agency of Canada Appointed

Related Document:

• Biographical notes

Finance Minister Paul Martin and Secretary of State (International Financial Institutions) Jim Peterson today announced the appointment of William Knight as the first Commissioner of the Financial Consumer Agency of Canada (FCAC). The appointment, which takes effect on November 1, 2001, is for a five-year term.

Mr. Knight is currently President and Chief Executive Officer of Credit Union Central of Canada, a position he has held since 1995.

"I am extremely pleased that Mr. Knight has accepted the position of Commissioner," Minister Martin said. "Sound leadership will be vital for the agency. His extensive background in the financial services sector and his experience in meeting the needs of consumers are sure to be tremendously beneficial."

The new agency is set to begin operation on October 24, 2001, the same day Bill C-8, the financial sector reform legislation, comes into force.

The FCAC will supervise Canada’s federally regulated financial institutions to ensure that they comply with the consumer provisions applicable to them. The FCAC will also monitor the implementation of voluntary codes of conduct adopted by these institutions and promote consumer awareness of the obligations of financial institutions under the consumer provisions.

The agency will also assist individuals seeking information about financial services by offering consumer protection information, responding to inquiries and directing consumers with complaints and inquiries about financial services to other responsible bodies.

"With Mr. Knight’s capable leadership, this new agency will serve to ensure that consumers, in their day-to-day dealings with financial institutions, fully benefit from the consumer protection measures included in the new federal legislation," said Secretary of State Peterson.

Biographical notes for Mr. Knight are attached.

___________________
For further information:

If you would like to receive automatic e-mail notification of all news releases, please visit the Department of Finance Canada Web site at http://www.fin.gc.ca/scripts/register_e.asp.

William G. Knight has been President and CEO of Credit Union Central of Canada since 1995. During his six-year tenure, Mr. Knight undertook a number of strategic initiatives to increase the visibility and flexibility of the credit union system.

Mr. Knight was also chairman of the Board of Directors for Credential Group and the chair for Credit Union Institute of Canada.

Mr. Knight has also been a member of the Board of Directors for Canadian Co-operative Agricultural Financial Services, Canadian Co-operative Leasing Services and Public Policy Forum, and has served as an Alternate Board Director for the Canadian Payments Association. He has also been a member of the Queen’s University School of Policy Studies Advisory Council, and has participated in the CEO External Resource Group for the Ontario Ministry of Education. Mr. Knight was also the chair for Canadian Central’s CEOs Committee and the World Council of Credit Unions’ CEO Advisory Committee.

Mr. Knight joined the national credit union organization in 1989. He held the position of Vice President, Government Affairs until November 1, 1995, and was instrumental in directing credit union government relations at the federal level.

Prior to joining Credit Union Central of Canada, Mr. Knight held a number of senior management positions including Principal Secretary to political leaders at both provincial and federal levels. Mr. Knight is a former NDP Member of Parliament for the riding of Assiniboia and has served on the House of Commons Standing Committee on Finance.

Mr. Knight received a Bachelor of Arts and a Bachelor of Education from the University of Saskatchewan.