(February 8 – 13:10 ET) – The Canadian Association of Insurance and Financial Advisors says that it welcomes the reintroduction of legislation to reform the policy framework for Canada’s financial services sector, announced yesterday by the Liberal Government.

“We’re very pleased that this important legislation has returned to the order paper,” says Dave Thibaudeau, CAIFA president and CEO. “It’s very encouraging that the government has made the passage of this bill, and its consumer protection measures, a priority.”

The new legislation, Bill C-8, replaces Bill C-38, which died on the order paper when Parliament dissolved last fall.

CAIFA says it is pleased with the continuation of insurance retailing restrictions on deposit-taking institutions and new tied selling provisions, and the increased competition within the financial services industry through the opening up of the payments system to the insurance industry, among others.
-IE Staff