To hear appeals from a person who may, in accordance with another Act of the province, make an appeal of an original order or decision to the board under this Act. That person may commence that appeal by filing a notice of appeal in the form required by the minister with the person who made the original order or decision within 30 days of receiving notification of that order or decision.
The Lieutenant-Governor in Council shall, from among persons recommended by the minister, appoint a financial services appeal board consisting of 5 members. The Lieutenant-Governor in Council shall, upon the recommendation of the minister, appoint from among the members, one person to act as the chairperson.
Those who make up the Financial Services Appeal Board should collectively possess the following core competencies.
Members of the Financial Services Appeal Board meet when they have an appeal to hear. The number of meetings will vary depending on the number of appeals filed. Over the last two years, the Financial Services Appeal Board has only met twice. Hearings usually last 2-4 hours but the writing of decisions after the hearings can take a day or two depending on the issues.
A person shall be appointed for a term of 3 years and is eligible for reappointment. A member shall continue to be a member until he or she is replaced.
The Financial Services Appeal Board is seeking to fill five positions. Consideration will be given to candidates with legal expertise, report writing skills, financial literacy, and a regulatory background. Expressions of interest are being sought from individuals who possess the background, experience and skill-set identified and who can bring unique perspectives to the table. Consideration will also be given to a variety of demographic factors to ensure the board is representative of the population they serve.