1. 2019 Consumer Protection Conference
Consumer Affairs

2. Who we are “Protect consumers and enhance public confidence
in the financial and consumer marketplaces
through the provision of regulatory
and educational services”
- FCNB mandate

3. Agenda Legislation Administered by Consumer Affairs Mandate/Purpose
Licensing Process
Opportunity to be Heard
Compliance Reviews
Enforcement
Financial and Consumer Services Tribunal
Contact Us

4. Legislation Administered by Consumer Affairs
Auctioneers
Collection & Debt Settlement Services
Commissioners for Taking Affidavits
Consumer Product Warranty and Liability
Cost of Credit Disclosure and Payday Loans
Credit Reporting Services
Direct Sellers
Franchises
Gift Cards
Mortgage Brokers
Pre-arranged Funeral Services
Real Estate Agents

5. Mandate/Purpose
Consumer Affairs Division provides day-to-day compliance and administration of a wide range of consumer legislation
Activities include:
investigating consumer complaints,
advising consumers of their rights and responsibilities,
promoting consumer education and information,
issuing licenses for the regulation of businesses under various consumer protection legislation, and
hearing matters that may result in terms & conditions, or the refusal, suspension or cancellation of a licence.

6. Licensing/Registration
Auctioneers
Collection and Debt Settlement Agencies and Collectors
Commissioner of Oaths Appointees
Cost of Credit Disclosure Registrants
Direct Sellers Vendors and Salespersons
Mortgage Brokerages, Administrators, Brokers and Associates
Payday Lenders
Pre-arranged Funeral Service Providers and Managers
Real Estate Agents, Managers and Salespersons

7. Licencing Application Process
Applicants should ensure that all applications are completed fully and that all relevant details are included prior to submitting to FCNB.
Missing or incomplete details will delay the issuance of the licence.
FCNB encourages existing licensees to submit renewal applications at least 2-4 weeks in advance of the expiry date to allow sufficient time for review

8. FCNB Online Portal Currently on the Portal:
Mortgage Brokers
Direct Sellers
Payday lenders
We are currently transitioning other licence types from a paper based licence application to the Portal
Coming soon:
Real Estate Licence Applications
Regular communication with industry will occur as each licence application moves to the Portal

9. Searchable Licence Database
A searchable database exists on the FCNB website for:
Mortgage Brokers
Payday Lenders
Coming soon:
Direct Sellers
Real Estate
*Note that there are also searchable databases for
Insurance and Securities
As we move towards a fully online licensing system, FCNB will have a searchable online database for consumers and industry to view a list of licensees for most licence types

10. Licensing Suitability
These three fundamental criteria are assessed based on the information provided by the applicant through the licensing process or during the period of the licence:
Proficiency
Integrity
Solvency

11. Opportunity to be Heard
Applicants, licensees and registrants, have the right to an opportunity to be heard before Regulators can make certain decisions.
These include:
Refusal
Suspension
Cancellation
Terms and conditions

12. Opportunity to be Heard Procedure
Notice to Applicant or Licence holder
Opportunity to respond (in person or in writing)
Regulator provides written decision which includes:
The nature of the decision to be made, with appropriate reference to statutory provisions
A summary of the information considered
A summary of the Opportunity to be Heard process and the participation of the affected person therein
Decisions are posted on the FCNB website

13. Compliance Reviews
A compliance review is an examination of books, records and documents in relation to the business activities of a licence holder or former licence holder.
It is conducted by compliance staff appointed by the Commission with the objective of obtaining sufficient evidence:
To support compliance with legislative requirements, and
To confirm no material mishandling of trust funds for licence holders or former licence holders who have/had a trust account.
Compliance Review Types:
Opening educational visit
Routine compliance review (scheduled and unscheduled)
Closing review

14. Compliance Review Authority
A compliance officer may:
Enter the premises of any licence holder during normal business hours,
Require a licence holder, or officer or employee of a licence holder, to produce for inspection, examination, auditing or copying any books, records or documents relating to business activities of licence holder,
Inspect, examine, audit or copy the books, records or documents provided, and
Question a licence holder, or officer or employee of licence holder in relation to business activities of the licence holder.

15. Enforcement
Enforcement deals with offences and penalties within FCNB’s legislative mandate
Power to pursue quasi-criminal charges
Individuals: fines up to $500,000 and/or 1 year imprisonment
Non-individuals: fines up to $1,000,000
Administrative Penalties
Individuals: penalties up to $100,000
Non-individuals: penalties up to $500,000
Restriction/suspension/cancellation of licence
Ban from industry

16. Financial and Consumer Services Tribunal
The Financial and Consumer Services Tribunal (Tribunal) is an independent adjudicative body
The Tribunal exercises powers imposed on it by New Brunswick Financial and Consumer Services Legislation, which includes holding hearings, appeals and the revocation or variation of decisions. The Tribunal has jurisdiction to decide all questions of fact or law arising in the course of a hearing, review or appeal
Decisions and orders issued by the Tribunal are a matter of public record

17. Contact Us