Established in 2013, the International Financial Consumer Protection Organisation (FinCoNet) is an international organisation of supervisory authorities which have responsibility for market conduct and financial consumer protection.
It was created in response to the growing focus on financial consumer protection worldwide, and the need for better interaction, sharing and collaboration among supervisory bodies responsible for the oversight of financial consumer protection regimes. FinCoNet promotes sound market conduct and strong consumer protection through efficient and effective financial market conduct supervision.
It is a member-based organisation and has been set up as a not-for-profit association under French law. FinCoNet replaced the informal network of supervisory authorities which had existed since 2003.
Each member of FinCoNet has responsibility for and an interest in protecting the interests of consumers of financial services. FinCoNet seeks to enhance the protection of consumers and strengthen consumer confidence by promoting robust and effective supervisory standards and practices and by the sharing of best practices among supervisors. It also seeks to promote fair and transparent market practices and clear disclosure to consumers of financial services.
FinCoNet’s focus is on banking and consumer credit issues.
