Financial Institutions Commission
The Financial Institutions Commission (FICOM) is a regulatory agency of the provincial Ministry of Finance. FICOM is responsible for administering nine statutes that regulate the pension, financial services and real estate sectors in British Columbia, for the protection of the public.
The primary focus of this regulation is to ensure that:
- Institutions and pension plans in these sectors remain solvent
- Market conduct requirements for these sectors are respected
- Unsuitable individuals do not participate in financial service markets
- Insure credit union deposits and non-equity shares
FICOM has a process in place for investigating complaints arising from the conduct of members of the real estate, pension and financial services sectors.