Quebec’s financial services regulator has announced strategic adjustments aimed at streamlining its organizational structure. “The main adjustments put forward will allow the organization to focus on its clientele and the quality of services provided to them,” the Autorité des marchés…
B.C.’s broker regulator fined a broker $2,000 and his former brokerage $2,500 for sending out an incorrect declarations page to a client that was modelled after a dec page issued by an altogether different brokerage. Questioned about the error by…
When it comes to market conduct in the property and casualty industry, the regulations should recognize that brokers are independent, an Insurance Bureau of Canada spokesperson says. A guidance paper explaining regulators’ “overarching expectations” on market conduct for brokers, agents…
The Property and Casualty Insurance Compensation Corporation (PACICC) will participate in the federal government’s review of financial sector regulations next year, including the examination of an act that has not “really been reviewed” in more than a century. The Winding-up…
A wide mandate for the body regulating Ontario’s auto insurance sector – one that promotes competition, innovation and responsiveness – would be welcomed, Karin Ots, senior vice president of regulatory and government relations for Aviva Canada, suggested Thursday during a…
The Registered Insurance Brokers of Ontario (RIBO) has embarked on a major overhaul of its spot check program with the twin goals of promoting better consumer protection and improved broker risk management, says Norma Hitchlock, RIBO’s outgoing president. While the…
A new survey out of the United Kingdom indicates that over the last year, the value of Financial Conduct Authority (FCA) fines against individuals has more than doubled while, for companies, the value has dropped 37%. Overall, the FCA imposed…