Regulatory changes

News from IFB

Regulatory changes

12th Apr 2019

IFB Staff

IFB responds to Ontario Government Budget

April 11, 2019. Mississauga. Independent Financial Brokers of Canada (IFB) welcomes the Ontario government’s commitment to ensure Ontario’s consumers of financial products can depend on a thriving and innovative financial services sector, delivered alongside a robust regulatory system which has, at its heart, a strong consumer protection mandate. “IFB recognizes that for these goals to succeed, those who are licensed and educated to provide advice to retail clients must be professional and proficient” said Nancy Allan, IFB’s Executive Director. “Fortunately, Ontario already has in place both a robust licensing system and system of regulatory oversight through its existing provincial securities and insurance regulators, and national SROs, IIROC and the MFDA. It is important to IFB – and IFB members – […]

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26th Sep 2018

IFB Staff

Vic Fedeli, Ontario’s Minister of Finance to open IFB 2018 Toronto Fall Summit

IFB is pleased to announce that Ontario’s Minister of Finance, the Honourable Vic Fedeli, will be the opening keynote speaker at the Toronto Fall Summit, on November 6, 2018.  The Ontario government has been taking new directions on a number of fronts, including financial services. Most recently, the government questioned whether the proposed changes to the client-advisor relationship, including banning DSCs, is the right direction for securities regulation. Come and hear what Minister Fedeli has to say about his government’s thinking on where financial advice and regulation is headed for Ontarians. Don’t miss this opportunity! Register today.

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Saving money

21st Jun 2018

IFB Staff

IFB responds to CSA announcement on its harmonized response to concerns with the client-registrant relationship

June 21, 2018 IFB welcomes the announcement today that Canadian Securities Administrators (CSA) members have reached agreement on a set of reforms to enhance the relationships between investors, advisors and firms.  IFB says the CSA has presented a balanced set of reforms that will be positive for investors, while not harming market competition by introducing certain changes that would have had a disproportionately negative effect on smaller, independent firms and advisors. “In particular, IFB is pleased that the CSA has not proposed a ban all embedded commissions”, said Scott Findlay, IFB’s Chair. “At an OSC roundtable on this topic, I said that – as an advisor myself – I share with many IFB members the concern that a ban on […]

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02nd Mar 2018

IFB Staff

IFB Responds to CLHIA Guideline 19

Click HERE to read IFBs comments on CLHIA Guideline 19

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16th Feb 2018

IFB Staff

Advisors protest – New disclosure rules from CLHIA draw complaints

In a move that few in the financial advisor community favour, insurance companies soon will begin disclosing the value of compensation paid to intermediaries who sell group retirement services and group benefits plans. That intent raises questions about whether advisors selling individual life insurance soon could be subject to similar compensation disclosure. The Canadian Life and Health Insurance Association Inc. (CLHIA) instituted its new disclosure regime through Guideline G19, issued last month. Instituting the disclosure rule follows consultation with CLHIA members, notification of the insurance industry’s regulators and ratification by the CLHIA’s board of directors. However, G19 was ratified without prior consultation of affected advisors and intermediaries. The disclosure is expected to commence on Jan. 1, 2019 – six months […]

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16th Nov 2017

IFB Staff

IFB comments on Ontario’s 2017 Fall Economic Statement

TORONTO, November 15, 2017 – Many proposals contained in the Ontario Fall Economic Statement affect members of Independent Financial Brokers of Canada (IFB) as financial advisors and small business owners. IFB supports the government’s plan to develop legislation that will regulate financial planners in Ontario and restrict the use of titles related to financial planning. IFB has long held the position that those who call themselves Financial Planners should hold appropriate credentials to do so. In addition, other financial advisory titles, which do not accurately reflect the proficiency of the individual or firm, can be misleading or confusing to consumers seeking financial advice. IFB welcomes the government’s intention to pursue both initiatives through extensive consultation with stakeholders. IFB looks forward […]

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03rd Nov 2017

IFB Staff

IFB Academy – the new IFB member benefit

Launching December 1st 2017!

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13th Oct 2017

IFB Staff

IFB urges Ottawa to take steps to help smaller firms

The growing costs and efforts associated with compliance are taking a toll on smaller dealers and independent advisors, the association states in a submission to Finance Canada The federal government needs to take action to help independent financial services firms compete against the increasingly dominant big banks in Canada as well as to improve consumer protection, Independent Financial Brokers of Canada (IFB) argues in a recent submission to the federal Department of Finance Canada. Notably, the IFB expresses its support for the government’s intention to consider proportionality in the development of policy and regulation in its submission to Finance Canada on the department’s review of the federal financial services sector framework.   To read the full article, click HERE.  

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