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The Financial Services Tribunal
Office Closure - National Day for Truth and Reconciliation
In June, the federal government announced Sept. 30 as a new annual statutory day to commemorate the history and ongoing trauma caused by residential schools and to honour those who were lost and the survivors, families and communities who continue to grieve. In recent years, Sept. 30 has been known as Orange Shirt Day, so called because of the residential school experiences of the campaignís founder, Phyllis Webstad. It is a day when we honour the children who suffered in the residential school system, and many residential school survivors and supporters have advocated for this to become a national day of commemoration, to respond to one of the Truth and Reconciliation Commissionís Calls to Action. As part of the Financial Service Tribunalís commitment to reconciliation and in recognition of the National Day for Truth and Reconciliation our office[s] will be closed on September 30, 2021. We will use the day as an opportunity to pause and consider the history, legacy and ongoing effects of residential schools, as well as associated colonial practices. We will reflect on how to best incorporate the rights described in the United Nations Declaration of Rights of Indigenous Peoples into our practices and procedures. We will contemplate the actions we can take, individually and collectively, to advance reconciliation with Indigenous peoples and to recommit to understanding the truth of our shared history, to accept and learn from it and in doing so, help to create a better, more inclusive British Columbia.

(Updated September 1, 2021)

The Financial Services Tribunal (“FST”) was established in 2004 under section 242.1 of the Financial Institutions Act. Some sections of the Administrative Tribunals Act also govern appeals at the Tribunal.

The FST hears appeals from individuals and institutions who want to contest enforcement decisions made by the Insurance Council of British Columbia, Superintendent of Real Estate, Superintendent of Pensions, Registrar of Mortgage Brokers and Superintendent of Financial Institutions. It provides an avenue of appeal for those who believe that they have been wrongly limited or denied the ability to work in one of the regulated occupations to which an appeal lies to the FST. 

The FST only has jurisdiction to hear appeals under the following British Columbia statutes:

Financial Institutions Act 
Credit Union Incorporation Act 
Mortgage Brokers Act 
Real Estate Services Act
Pension Benefits Standards Act 
Real Estate Development Marketing Act

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