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.
Susan Allemang, head of regulatory and policy affairs with Independent Financial Brokers of Canada was interviewed by Investment Executive on the Coalition for Small Business Tax Fairness. To read the full article, please click HERE.
OSC Announces Agenda for Roundtable on Option of Discontinuing Embedded Commissions TORONTO – The Ontario Securities Commission (OSC) today announced the agenda and list of panellists for the upcoming roundtable to discuss Canadian Securities Administrators (CSA) Consultation Paper 81-408 Consultation on the Option of Discontinuing Embedded Commissions. The roundtable is being held as part of the CSA’s ongoing consultation on the possible impacts of discontinuing embedded commissions. The event will include three panel discussions, each of which will explore a different alternative to the option of discontinuing embedded commissions and discuss the extent to which the alternative may address the CSA’s concerns with respect to embedded commissions. To read the full article, please click HERE.
IFB’s Toronto Spring Summit opening speaker, Tony Chapman, weighs in on Air Canada’s decision to move from Aeroplan to their own loyalty platform. In this television interview he talks about the reasons why and offers insights on the consumer and marketplace that also applies to our business of doing business. Click the video below to listen!
Scott Findlay, the new head of the IFB, says that maintaining the independence of financial advisors is crucial to ensuring that clients have the best options in product choice and advisor compensation. To read the full article, please click HERE!
Insurers under the microscope “[The new documentation] will either give the regulators comfort that the current system is working to a large extent or will identify gaps or areas that need to be strengthened,” says Susan Allemang, head of regulatory and policy affairs at the Independent Financial Brokers of Canada in Mississauga, Ont. “If [the data] show that there are areas that pose higher risks, then I would expect that the regulators would take action – they’ll take steps to address those deficiencies.” To read the full article in Investment Executive, please click HERE!
Independent Financial Brokers of Canada (IFB) today joined forces with a coalition of associations in a campaign objecting to a possible federal tax on private health care plans. IFB is concerned about the negative impacts of such a tax, and joined the coalition to add its support for a more fulsome discussion. There is widespread concern that if the premiums become taxable, many employers – especially smaller employers – will discontinue or reduce coverage, leaving thousands of Canadians without affordable means to access extended health, dental and other mental and physical care services, not covered under provincial health care plans. Today, some 24 million Canadians are covered under private or employer sponsored benefit plans. “At a time when provincial health […]