Brian Mills appointed to replace Philip Howell
Ontario regulator says advisors may be on the wrong side of the rules
Selling or transferring life insurance policies may not be legal in Ontario
Errors and omissions insurance is necessary to protect consumers: FSCO
Many advisors are failing to appropriately document sales activities
Employer discovered issues with handling of client funds
Draft statement of priorities includes a pledge to undertake product suitability reviews of life insurance and mortgage broker products
Chairman’s pay stays flat at $715,000
Superintendent rules agent banned by MFDA be supervised by another agent for 24 months
The new emphasis on reviews is part of a broader effort by regulators to make rules based on evidence