SAINT JOHN – The former Financial and Consumer Services Tribunal issued its written decision on a matter involving John Albert McKellar of Quispamsis and 668054 N.B. LTD.
The Tribunal concluded that McKellar violated New Brunswick’s Real Estate Agents Act and Securities Act during a 2016 real estate transaction.
A copy of the decision by the former Financial and Consumer Services Tribunal is publicly available on the Commission’s website.
In June 2023, the functions and duties of the Tribunal were transferred to the Energy and Utilities Board.
All decisions issued by the Tribunal related to this matter remain publicly available in the Regulator Decisions database on the Commission’s website.
The Financial and Consumer Services Commission of New Brunswick has the mandate to provide regulatory services that protect the public interest while enhancing public confidence, and to promote understanding of the regulated sectors through educational programs. It is responsible for the administration and enforcement of financial and consumers services legislation for mortgage brokers, payday lenders, real estate, securities, insurance, pensions, credit unions, trust and loan companies, cooperatives, the unclaimed property program, and a wide range of other consumer legislation. It is a Crown corporation funded by the regulatory fees and assessments paid by the regulated sectors. Online educational tools and resources are available at www.fcnb.ca.
The New Brunswick Energy and Utilities Board provides independent adjudication and oversight in the financial and consumer services sectors. Prior to June 2023, the Financial and Consumer Services Tribunal heard enforcement matters under financial and consumer services legislation. The Tribunal functions are now within the Energy and Utilities Board (EUB).