Financial Institutions & Credit Unions

Financial institutions consist of credit unions, trust companies and insurance companies incorporated in B.C. as well as those incorporated under another jurisdiction, but authorized to operate in B.C. (extraprovincial).

Legislation and Regulation

The Financial Institutions Act (trust and insurance companies) and the Credit Union Act govern how financial institutions are formed and operate in B.C.

Credit unions, trust companies and private sector insurers operating in B.C. are regulated by the Financial Institutions Commission (FICOM).

Keeping Records Up to Date with the Registry

Maintenance filings (separate from regulatory filings through FICOM) are required for both B.C. and extraprovincial registered financial institutions. Contact us if you need to know more about filing requirements or require assistance completing the required documents.