Core Business Areas
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.
- 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.
- Regulates mortgage brokers under the Mortgage Brokers Act.