- Mortgage Brokers
- Pension Plans
- Financial Institutions
- C.U. Deposit Insurance
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Opportunities to serve as a FICOM Commission Member
Opportunities to serve on other provincial boards, agencies or commissions are posted at the Board Resourcing and Development Office website.
About FICOM Commission
The commission exercises powers and carries out duties assigned to it under the FIA relating to the regulation and supervision of provincially licensed insurance companies, trust companies and credit unions. Through the exercise of FIA and CUIA powers, the commission makes major regulatory decisions regarding incorporations, business authorizations, amalgamations, liquidations and windups.
The Commission provides oversight and direction to the Superintendent of Financial Institutions, an individual also appointed by the Lieutenant Governor in Council. The Commission can delegate certain powers of its own to the Superintendent but must then oversee the use of that delegation. The Superintendent holds certain powers under the FIA that are separate and apart from those held by the Commission.
Instrument of Delegation (last reviewed May 13, 2019)
The Commission makes certain decisions regarding the operations of CUDIC, a statutory corporation with distinct responsibilities relative to FICOM. Members appointed to the Commission also serve as CUDIC Directors. The Commission makes decisions regarding fund augmentation, assessments and methodology, fund size and impairment. The Commission also oversees public awareness activities relating to the deposit insurance guarantee.
Commission Member remuneration is set in accordance with Treasury Board Directive 1/17 (Administrative Tribunals), section 6.3. In accordance with the Directive, section 4.5.2), the actual amount of compensation paid to Commission Members is made publicly available each year.
Annual Remuneration (for the year ending March 31, 2019)