Company: Canadian Council of Insurance Regulators

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CCIR-CISRO proposals aim to align incentive structures with fairness principles

Man walks the ladder of success and reaches the top

Editorial: Closing the gap between insurance and securities rules removes a tangible risk for clients

  • By: IE Staff
  • February 14, 2022 February 18, 2022
  • 09:12
Closed sign in a shop showroom with reflections

CCIR, CISRO consultation will also consider outright ban on upfront commissions

Modern urban skyscrapers in downtown Chicago from below to the blue summer sky. Sun reflecting in the glass facades of the urban futuristic buildings. Chicago, Illinois, USA

At a joint meeting, regulators focused on harmonizing total cost reporting for mutual funds and seg funds

Business man signing a contract

Document outlines key principles that regulators expect insurers and intermediaries to engrain into their daily practices

Paper family of four under a paper cutout insurance umbrella

Proposal aims to “foster discussions between regulators, insurers and intermediaries on market conduct”

New disclosure for seg funds to be aligned with mutual funds’ rules?

Empire Life expands digital applications to seg funds

The proposals would bring seg fund disclosure more closely in line with the information clients receive about mutual funds, but with some key differences

Empire Life expands digital applications to seg funds

The CCIR will also look at issues such as risk classification methodology, oversight of sales, needs-based selling practices, updating of client records and know-your-product due diligence requirements

Advocis takes stand against new Saskatchewan tax on life insurance

The association’s response to the CCIR’s strategic plan recommends that regulators implement a mandatory rule for advisors to conduct a needs analysis for all clients