The Financial and Consumer Services Tribunal is an administrative tribunal created by the Legislature pursuant to section 29 of the Financial and Consumer Services Commission Act [Act]. It has been in operation since July 1, 2013. The Tribunal is quasi-judicial in nature and has broad adjudicative powers, which include several “court-like” powers.
The Tribunal hears appeals, reviews, applications and enforcement proceedings under financial and consumer services legislation.
The Tribunal typically hears matters in Saint John or Fredericton, but may hold hearings in other locations.
The Tribunal’s mandate is to protect the public interest and enhance public confidence in the financial and consumer services sectors. The Tribunal provides independent adjudication and oversight in the financial and consumer services sectors.
The Tribunal has three main roles:
|1. ||It hears enforcement proceedings under: |
It provides independent oversight by hearing appeals and reviews of the following regulators and decision-makers' decisions: