Regulator to focus on point of sale disclosure for investment funds
The Financial Services Commission of Ontario has published a policy governing Ontario Locked-In Retirement Income Funds. FSCO notes that pension legislation provides that a former member of a pension plan who is entitled to a deferred pension, is entitled to require the administrator to pay an amount equal to the commuted value of the deferred […]
Selected plans to be contacted this spring
The Financial Services Commission of Ontario has issued a consultation draft that contemplates reform of the regulation of the mortgage brokerage industry.The consultation draft proposes a mortgage brokerage structure with a principal broker who would oversee brokers and agents. A brokerage licence would be required for an entity that carries on the business of dealing […]
FSCO says guides will help administrators and agents
Market conduct activities being consolidated
Changes stem from Transamerica court decision
Changes designed to alleviate financial instability for retirees
Agents required to hold $1 million in E&O insurance
Policy outlines transfer of surplus to employers on full plan wind up