GFD Trust seeks incorporation

Summary#

Guaranteed Funeral Deposits of Canada (Fraternal) plans to apply for letters patent to create a trust company under the Trust and Loan Companies Act (Canada). The new company would be called GFD Trust (English) / Fiducie GFD (French) and objections must be sent to the Office of the Superintendent of Financial Institutions by August 4, 2026.

What it does#

• Applies to the Minister of Finance for letters patent to incorporate a trust company under the Trust and Loan Companies Act (Canada).
• Proposes the business name GFD Trust / Fiducie GFD and a head office in Oakville, Ontario.
• Says the proposed trust company will offer trust products and services aimed at the Canadian bereavement (funeral) sector.
• Allows members of the public to object in writing to the Office of the Superintendent of Financial Institutions at 255 Albert Street, Ottawa, Ontario K1A 0H2 or by email (approvals-approbations@osfi-bsif.gc.ca) on or before August 4, 2026.
• Notes that publishing the notice does not mean approval; the Minister of Finance will decide after the usual review process.

Who's affected#

• Businesses in the funeral and bereavement sector, such as funeral homes and prepayment-plan administrators.
• People who hold or plan to put money into prepaid funeral plans or similar trust arrangements.
• The notice also involves federal regulators (the Office of the Superintendent of Financial Institutions and the Minister of Finance) because they handle the application and any objections.

Why it matters#

• If approved, a new trust company focused on funeral-related products could give funeral businesses and customers more specialised ways to hold and manage prepaid funeral funds.
• For people who prepay funerals, it could mean different options for where their money is held and how it’s managed.
• The decision is not final yet; interested people or businesses have until August 4, 2026 to object.