About Us

Core Business Areas

FICOM has four core business areas that are organized around its areas of regulatory responsibility.

Financial Institutions

Credit Unions and Trusts

  • Regulates credit unions and trust companies under the Financial Institutions Act and the Credit Union Incorporation Act.

  • Administers deposit insurance for credit unions through the Credit Union Deposit Insurance Corporation.

Insurance

  • Regulates insurers under the Financial Institutions Act, Insurance Act, and Insurance (Captive Company) Act.

  • The Insurance Council of B.C. is responsible for licensing insurance sales agents and adjusters.

  • The Superintendent may appeal disciplinary decisions of the Insurance Council, and is responsible for investigating unlicensed insurance activities.

Pensions

  • Regulates pension plans registered in British Columbia under the Pension Benefits Standards Act.

Mortgage Brokers

  • Regulates mortgage brokers under the Mortgage Brokers Act.