The Financial and Consumer Services Commission (the Commission) is New Brunswick’s financial and consumer services regulator.
The Commission is responsible for the administration and enforcement of provincial legislation that regulates securities, insurance, pensions, credit unions, real estate and mortgage brokers, loan and trust companies and a wide range of consumer protection legislation.
The mandate of the Commission is to provide regulatory services that protect the public interest, enhance public confidence and promote understanding of the regulated sectors through educational programs.
The Financial Institutions Division oversees the financial stability and solvency of credit unions for the protection of depositors and provides the related corporate registry services. It oversees the financial stability and solvency of provincially incorporated loan and trust companies, as well as regulating the licensing of extra-provincial loan and trust companies. This division is also responsible for the regulation and the incorporation of cooperatives. Learn more here.
The Insurance Division administers the Insurance Act through the regulation, oversight, and licensing of insurers and insurance intermediaries (adjusters, agents and brokers). This includes life, health, property, and casualty insurance. Learn more here.
The Pension Division is responsible for the enforcement of standards prescribed under the Pension Benefits Act and for the investigation of alleged violations. The division reviews and registers documents that create and support pension plans, provides clarity to plan sponsors or administrators about compliance and regulations and information to current and former members about their rights, and monitors registered pension plans to ensure compliance with the Pension Benefits Act and its regulations. Learn more here.
The Securities Division administers the Securities Act through the regulation and oversight of registrants, securities issuers and self-regulatory organizations. It reviews offering documents, continuous disclosure documents and exemption applications to ensure these filings comply with New Brunswick securities law. This division reviews applications for registration from dealers and advisers who are in the business of trading or advising in securities. Learn more here.
The Consumer Affairs Division administers a wide range of consumer legislation. Activities include investigating consumer complaints in areas we regulate, providing information and direction to the public on how to resolve their complaints, educating consumers and businesses on their rights and responsibilities, and issuing licences for the businesses captured under our consumer legislation. Learn more here.
The Unclaimed Property Division administers the Unclaimed Property Act. The Act will establish a free searchable list that helps reconnect New Brunswickers with their lost or forgotten monetary property. Under the Act, businesses and other entities holding unclaimed property are required to review their books and deliver any unclaimed monetary property to the Director.
The Enforcement Division is responsible for the assessment, investigation and, in appropriate cases, prosecution of violations of the various laws over which the Financial and Consumer Services Commission has authority. Learn more here.
The Communications and Public Affairs Division is responsible for the development and delivery of the Financial and Consumer Services Commission’s financial literacy, consumer protection and awareness materials and for delivering presentations and workshops on these topics throughout the province.