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Strengthening Canada’s Financial Sector: Phase 3 of the Federal Consultation Emphasizes Competition and Consumer Interests

On August 12, 2024, the Department of Finance released its Consultation on Proposals to Strengthen Canada’s Financial Sector, the third phase of the federal government’s ongoing review of Canada’s financial institutions laws....more

Ontario Consultation on Regulating Life & Health Managing General Agents Launched

On July 26, 2024, the Ontario Ministry of Finance launched a consultation on proposed amendments to the Insurance Act that would create a regulatory framework for life and health managing general agents (L&H MGAs) and those...more

Department of Finance Launches Periodic Review of Financial Institutions Statutes, Seeks Public Input on 12 Key Questions

On October 5, 2023, the Department of Finance (Canada) launched a public consultation as part of its periodic review of the key statutes governing federally-regulated financial institutions: the Bank Act, the Insurance...more

British Columbia Conducts Consultation on Restricted Licence Regime for Incidental Sellers of Insurance

British Columbia’s Ministry of Finance is conducting a consultation on the adoption of its proposed restricted insurance agent licensing regime for incidental sellers of insurance. The proposal is similar to what is already...more

Québec’s AMF Releases Draft Incentive Management Guideline for Financial Institutions

The Autorité des marchés financiers (“AMF”) recently released a draft version of its Incentive Management Guideline (“Draft Guideline”), which applies to Québec-regulated insurers, financial services cooperatives, trust...more

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