- Mortgage Brokers
- Pension Plans
- Financial Institutions
- C.U. Deposit Insurance
The Role of the Superintendent and CEO and Staff of FICOM
Day-to-day regulatory and operational decisions are administered by the Superintendent and CEO and approximately 90 staff hired under the Public Service Act.
The Superintendent and CEO serves in several official capacities, including Superintendent of Financial Institutions, Superintendent of Pensions, Registrar of Mortgage Brokers and CEO of the Credit Union Deposit Insurance Corporation (CUDIC) under the corresponding legislation.
FICOM staff work in four core business areas: Credit Unions and Trusts, Insurance, Pensions, and Mortgage Brokers. Support services are provided to the core business areas by Administrative Services, Financial Services and the CEO's Office.Tara Richards, Interim CEO of FICOM
Tara was appointed as Assistant Deputy Minister, Corporate Services and EFO on July 17, 2014, with responsibility for corporate financial and facilities services, strategic human resources, information management and performance management and corporate priorities.
She has over 20 years experience in the BC public service. She has held progressively more responsible positions in various ministries in policy and legislation, operations, intergovernmental relations, and planning and corporate support services. Tara obtained her Masterâ€™s Degree in Public Administration as well as an undergraduate degree in Political Science from the University of Victoria.
As interim CEO, Tara will oversee and direct functions in finance, human resources, information technology, service planning and stakeholder relations.
Role of the Financial Institutions Commission
The Commission exercises powers and carries out duties assigned to it under the Financial Institutions Act (FIA) and the Credit Union Incorporation Act (CUIA) 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 Lieutenant Governor in Council appoints between 2 and 11 Commission Members under the provisions of the FIA and CUIA. As an ex officio Member of the Commission, the Deputy Minister (or his designate) participates in the Commission´s exercise of its powers and carrying out of its duties under the FIA.
Dr. Stanley W. Hamilton - Commission Chair
Dr. Hamilton is an emeritus professor at UBC's Sauder School of Business. During his career at UBC Dr. Hamilton taught and conducted research in real estate valuation and investments, institutional investments, pension fund governance and the real estate brokerage industry. He also served in a number of senior administrator roles at UBC.
Throughout his career he has been active in the community including serving on the boards of the Vancouver Stock Exchange, B.C. Assessment, the Vancouver City Planning Commission, the Financial Services Tribunal of B.C., the UBC Development Permit Board and the Investment Advisory Committees of the Public Guardian and Trustee of B.C. and the Real Estate Foundation of B.C. On two occasions he served as chair of the Vancouver Property Tax Policy Review Commission.
Since officially retiring Dr. Hamilton has been active in the arts community. He is a past chair of the Arts Club Theatre Company and currently serves as a chair of the B.C. Arts Council and as a director of the Stanley Theatre Society. He also serves as Project Manager for a Bard on the Beach/Arts Club Theatre Company new space initiative and advises a number of arts organizations on space issues.
Dr. Hamilton is currently a member of the Investment Advisory Committee of the Bentall Kennedy Prime Canadian Property Fund Partnership and a member of the advisory committee for a private foundation and private company.
For more details on the commission visit our commission members page.