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What Matters. Made Clear.
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BCFSA’s Strategic Plan 2026-2029
BCFSA’s 2026–2029 Strategic Plan sets a clear direction for how we will build and maintain confidence in B.C.’s financial services sector amid changing consumer expectations, economic uncertainty, and rapid market evolution. It reflects our focus on the outcomes that matter most to consumers and our regulated entities, and outlines the priorities and commitments that will guide our work over the years ahead.
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Vision and Purpose
Our Vision: Thriving Financial Services
Thriving financial services are essential to the economic and social well-being of people in British Columbia. They underpin everyday decisions and critical life moments—from buying and insuring a home to managing financial risk, recovering from loss, and planning for the future.
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Our Purpose: Building and Maintaining Confidence
BCFSA’s purpose is to build and maintain confidence in British Columbia’s financial services sector—especially when that confidence is tested.
Confidence matters because it helps people and businesses make decisions they can trust, whether buying a home, starting a business, or planning for retirement. It means knowing the institutions and professionals they rely on, like credit unions, insurers, mortgage brokers, and real estate agents, are stable and trustworthy, that the marketplace plays by fair rules, and that someone will step in if things go wrong.
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Reconciliation in Our Work
BCFSA is committed to reconciliation, reflecting the expectation that public sector organizations work in partnership with Indigenous Peoples and Communities and advance reconciliation as part of their mandate. As a financial services regulator, this commitment is expressed through both the design and delivery of certain strategies and initiatives, and through how we carry out our work. It informs how impacts are assessed, how engagement occurs, and how regulatory judgment is exercised, and will be reflected in the way the strategic priorities and initiatives in this plan are advanced.
Our Goals
- Goal 1. Sharper Risk Focus
Risks today move faster, connect across industry segments, and are harder to spot. To stay ahead, we need to act early—adjusting our rules and oversight so problems are prevented before they happen. By focusing on the risks that matter most, we and industry can use resources more wisely and deliver better results for the public.
- Goal 2. Strong Regulatory Foundations
We want financial services in BC to be strong and trustworthy. To make that happen, we are focusing on the basics: clear rules, robust standards, and strong partnerships. Our job is to set expectations for good governance and professionalism—and to work with the industries we regulate so those expectations are met. When these foundations are solid, people can trust the system and feel confident they’ll be treated fairly. This goal is about putting strong principles into practice by making oversight clear and efficient.
- Goal 3. Dynamic and Innovative Markets
Markets change constantly—new players enter, others leave, and businesses innovate. This dynamism drives competition, responsible innovation, and more choice for consumers. To keep pace with shifting conditions and risk, industry needs flexibility to adapt quickly. Our role is to support this change. We set fair, clear rules that encourage innovation and respond quickly to new ideas from industry. Our goal is to help new ideas grow while keeping the market safe for all consumers.
- Goal 4. Proactive Crisis Preparedness
Crises in the financial services sector can happen fast and spread widely. When they do, we need to act quickly to contain risks, protect consumers, and keep the system stable. Good crisis readiness depends on clear plans, the right tools, experienced teams, timely communication, and coordination with industry, regulatory, and government partners. By strengthening these capabilities, we can help prevent problems from spreading, reduce harm, and support a faster recovery.
- Goal 5. People Data Capability
The financial services sector is changing fast, and so are the tools and technologies that shape it. To keep pace, we must be responsive and insight-driven. That means more than adopting new technology: it means giving our people the skills and confidence to use those tools effectively, while applying judgment where automation cannot. By combining human expertise with modern data and analytics, we can make faster, better decisions and respond quickly to emerging risks. This goal is about building the capabilities, culture, and systems that make BCFSA a regulator ready to lead change.
