Trust Companies: FAQs

BC Financial Services Authority is a provincial government office and in Canada, banks are regulated by the federal government. Most banks have an Ombudsman who handles complaints against the bank. We recommend that you contact your bank for further information. If you are not satisfied with the bank’s Ombudsman, there is an Ombudsman for Banking Services and Investments who may be able to assist you. The Ombudsman for Banking Services and Investments can be reached at (888) 451-4519 or here: The Ombudsman for Banking Services and Investments. Further, the Office of the Superintendent of Financial Institutions (Canada) is responsible for bank regulation. The Office of the Superintendent of Financial Institutions (Canada) can be reached at (800) 385-8647 or here: Office of the Superintendent of Financial Institutions.

We recommend that you attempt to resolve your complaint directly with the trust company. Most trust companies have a designated officer who handles complaints. If you are not satisfied with the trust company’s response, there are several options:

If the trust company is a federally regulated trust company, you can contact the Ombudsman for Banking Services and Investments who may be able to assist you. The Ombudsman for Banking Services and Investments can be reached at (888) 451-4519 or here: Ombudsman for Banking Services and Investments. Further, the Office of the Superintendent of Financial Institutions (Canada) is responsible for regulating federal trust companies. The Office of the Superintendent of Financial Institutions (Canada) can be reached at (800) 385-8647 or here: Office of the Superintendent of Financial Institutions.

If the trust company is a provincially regulated company whose primary jurisdiction is not British Columbia, we recommend that you contact the trust company’s provincial regulator. A list of provincial regulators is available on our website.

If the trust company is a British Columbia Trust Company, the BC Financial Services Authority is the primary regulator. The BC Financial Services Authority investigates complaints of regulatory matters or criminal wrong doing. We are unable to assist you in civil, contractual, and legal disputes or in service quality and business matters with your trust company. If your complaint pertains to a regulatory or criminal matter, you can submit your complaint with our office. Please see the Complaint Handling Procedure under the Complaints & Inquiries section of our website.

Note: Check the trust company listings if you are unsure whether your trust company is federally or provincially regulated.

To incorporate a trust company in British Columbia, see Incorporating a Trust Company and Obtaining a Business Authorization in British Columbia.

To obtain a business authorization for an extraprovincial trust company to operate in British Columbia, see Obtaining a Business Authorization to Operate an Extraprovincial Trust Corporation in British Columbia.

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No. You must contact the British Columbia Corporate Registry search line at (604) 775-1040 (Vancouver) or (250) 387-5101 (Victoria). You can also check their website at BC Registries and Online Services.