Law360 Canada ( December 1, 2017, 9:02 AM EST) -- Appeals by All Trans Financial Services Credit Union Limited (All Trans) from orders made by the Financial Institutions Commission (Commission). The orders required All Trans to cease the sale of certain prepaid Visa cards and MasterCard cards issued to British Columbia consumers. The cards, once purchased and activated, allowed the cardholder to use the card at retail locations to purchase goods and services anywhere where Visa or MasterCard was accepted. Cardholders could also register cards to activate additional features, including the ability to reload funds onto the cards or, importantly, to withdraw funds loaded on the cards at point of sale terminals or from automated teller machines (ATMs). The Commission determined that All Trans' prepaid Visa/MasterCard business constituted an unauthorized deposit business, contrary to s. 81 of the Financial Institutions Act (FIA). That determination was based upon the conclusion that a cardholders’ card with a balance on account, which balance could be accessed or repaid by way of cash withdrawal at an ATM, constituted "deposit business" within the meaning of the FIA. All Trans maintained that it did not engage in a deposit business. Thus, the Commission had no jurisdiction to regulate its activities and no jurisdiction to make the orders....