The Guest Speaker on Nov. 18, 2013, was Rick Hancox, Chief Executive Officer and Sara Wilson, Investor Services Coordinator, Financial and Consumer Services Commission. Robert Kimball introduced Rick and Sara, who updated the club on the services provided by the Financial and Consumer Services Commission of New Brunswick. The main office is located in Saint John with two others in Fredericton...
The new entity is an offshoot of the New Brunswick Securities Commission. It acts as the regulatory body of the primary familiar services such as RRSPs, insurance, gift cards, credit unions, securities and pensions. The Commission is an information provider to the general public on regulated industries in New Brunswick. They are a licensing body for areas of jurisdiction.
The average victim age of consumer-based fraud is a 45-55-year-old male. The main challenge is people do not report the fraud. Statistics show if you have been victimized in the past, you will again be victimized.
Primarily the Commission is concerned with New Brunswick-based crime by New Brunswickers against New Brunswickers.
The Commission allocates $200,000 to $300,000 annually for education and awareness. The new Commission has brought five groups together under one umbrella.
President Bob T. thanked Rick and Sara for their presentation on the new Financial and Consumer Services Commission of New Brunswick.