Finance and Corporate Sector Policy

The Financial and Corporate Sector Policy Branch provides advice to the Minister of Finance on policy and legislation respecting financial institutions, securities law, pension standards, real estate regulation and corporate governance frameworks, with a view to ensuring:

  • Stability of financial markets through prudential regulation of financial institutions
  • Retirement income security through regulation of private pension plans
  • Informed investment through securities and real estate disclosure
  • Consumer protection through licensing of financial professionals
  • Creation of flexible corporate governance frameworks

To these ends, the Branch works with the federal and other provincial governments on issues of national and/or regional scope and importance (currently securities regulation, pension reform, and the New West Partnership Agreement).

The Branch works closely with its regulatory and program partners who implement, administer and/or enforce the relevant frameworks: Securities Commission; Financial Institutions Commission and Superintendent of Financial Institutions; Superintendent of Real Estate; Registrar of Mortgage Brokers; Insurance Council (government-appointed); Real Estate Council (largely industry-elected); Registry Services (Ministry of Citizens’ Services and Open Government).

The Branch interacts with a range of external stakeholders in responding to emerging sector issues and in the advancement of sector law reform initiatives: Financial services consumers (investors, depositors, borrowers, pension plan members, insurance consumers, home purchasers, businesses and societies seeking incorporation, consumer associations); Investment Association of Canada; Canadian Bankers Association; Central 1 Credit Union; Insurance Bureau of Canada; Canadian Life and Health Insurance Association; Insurance Brokers Association of BC; BC Real Estate Association; Urban Development Institute; Mortgage Brokers Association of BC; Canadian Bar Association; BC Co-operative Association; BC Law Institute.

The Branch also has responsibility for coordination of the ministry’s non-budget legislation program and the ministry’s regulatory reform initiatives.