CLHIA releases compliance guidelines as part of its response to recommendations from regulators Insurance advisors could begin seeing more compliance audits and a higher level of oversight of their day-to-day sales activities by their managing general agencies (MGAs) as the industry adopts a set of standardized compliance practices for the MGA distribution channel. The Canadian Life and Health Insurance Association Inc. (CLHIA) recently released a reference document entitled MGA Compliance: A Risk-based Approach for Compliance Programs in the MGA Channel. This document is intended to serve as a guide for MGAs in developing compliance policies regarding advisor screening and monitoring, as well as other compliance responsibilities. Continue reading this article at Investment Executive
IFB supports the government’s initiative to increase financial knowledge and access to information so they can be better prepared for retirement planning. In addition, seniors – like all Canadians – need to know where to access information on their advisor or firm – to ensure they are legitimate and licensed. IFB members play an important role in contributing to financial literacy as they are at the forefront of assisting in the education of clients when meeting with them in their homes and offices across Canada every day. Many IFB members have established long-term relationships with their clients, and as such become advocates for them in situations where the advisor is concerned about their cognitive decline, financial abuse or otherwise at risk. Education and […]
IFB recently moved to our new office. If you’re looking for us, we’re in the same building, at 30 Eglinton Ave W, Mississauga, but we’re now located on the 7th Floor, Suite 740. Previously, we were on the 3rd floor, Suite 306. Everything else remains the same.
IFB is a strong proponent of financial education as a fundamental tool to help Canadians be better informed and protect themselves from potentially fraudulent situations. We welcome the news that Canada’s first Financial Literacy Leader, Jane Rooney, has been appointed to strengthen these efforts and IFB looks forward to partnering in any future educational initiatives. Ms. Rooney is experienced in domestic and international financial literacy issues. In a further announcement, the Financial Consumer Agency of Canada has made various tools available on its website to mark Talk With Our Kids About Money Day. Talk with Our Kids About Money Day is an annual event to encourage parents and educators to take the time to discuss with young people the importance of financial literacy, from managing pocket […]