New regime aims to enhance consumer protection, set industry standards
FSRA is also proposing a penalty of $80,000 for the individual involved
Provincial authorities are targeting licensing exam security, MGAs, seg fund disclosures and other issues
As regulatory oversight increases, advisors grapple with succession, financial planning and independence
A variety of moves occurred across several industry areas
Provincial regulator is attempting to identify hidden risks and set a baseline for business practices
Canadian insurance regulators have not issued a similar warning
The clampdown includes the sale of unsuitable universal life policies
Industry braces for technical challenges as new disclosures take effect
New proposed amendment addresses removal of DSCs on existing seg fund contracts