Core Business Areas and Organization of FICOM
FICOM has four core business areas that are organized around its areas of regulatory responsibility.

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

• Responsible for the regulation of insurers under the Financial Institutions Act, Insurance Act, Insurance (Captive Company) Act, and Insurance (Marine) 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.

Real Estate and Mortgage Brokers

• Regulates mortgage brokers under the Mortgage Brokers Act.
• Regulates the marketing of multi-unit real estate developments under the Real Estate Development Marketing Act.
• Approves strata plan schedules under the Strata Property Act.
• Under the Real Estate Services Act, the Real Estate Council of British Columbia is a self-regulatory organization ("SRO") that regulates real estate brokerages and representatives, property managers and strata managers.
• The Superintendent of Real Estate has powers to intervene in the regulation of real estate professionals if an urgent concern for the public interest arises, and is responsible for investigating unlicensed real estate activities.
• The Superintendent may appeal disciplinary decisions of the Real Estate Council.

Support Functions

Investigations

The Investigations department investigates significant statutory breaches of all acts administered by FICOM. It also investigates related criminal issues, such as fraud, that may be uncovered in the course of these investigations.

Administration

FICOM’s core business areas are supported by the following departments: Records, Systems, Accounting, Operational Services, and the CEO’s office.
These departments provide a wide variety of services including records management, reception, communications, systems support, accounting, budgeting, purchasing, freedom of information requests, policy research, legislative reviews, performance planning and reporting, strategic human resources management, and secretarial support.