The Supreme Court of Canada ruled the proposed Canadian Securities Act is outside federal jurisdiction, but affirmed there's a potential role for the federal government in securities regulation. The significance? The door is left open to a "cooperative federalism" approach: the federal government can continue to work with willing provinces – who now know that the feds cannot simply take over securities regulation – to come to an agreement.

Bulletin #044-22/12 - December 22, 2011

On Friday, December 16, 2011, the Minister of Finance, the Honourable Jim Flaherty, announced the federal government would introduce legislation as soon as possible to prohibit banks from offering financial products that are structured in a manner similar to annuities. A copy of the release by the Department of Finance is available at http://www.fin.gc.ca/n11/11-139-eng.asp.

Bulletin #043-19/12 - December 19, 2011

Your Political Candidate Needs to Know the Issues that Matter to Advisors
We Got The National Parties To Weigh In On Advocis Issues

When talking to your local political candidate during the current federal election campaign, it is important that you ensure he or she knows Advocis members want – and expect – any newly-elected government to support policies and legislation which will allow Canadian consumers to have ample and easy access to professional financial advice, and the opportunity to choose from a diverse range of financial service providers in the marketplace. Why is getting this message across so critical? Because the regulatory framework now emerging in Canada has the potential to seriously threaten our industry and even drive financial advisors out of the business.

Bulletin #041-04/11 - April 2011 [PDF - 102KB]

2011 Federal Election Campaign [PDF - 104KB]

New LIRD Form and Procedure as of April 1 in Ontario

Ontario has passed a new regulation which establishes the new Life Insurance Replacement Disclosure (LIRD) form and the process to be followed upon replacement of a life insurance contract. This change is effective April 1, 2011. Please note: the old forms must not be used after April 1.

Bulletin#40-03/11 – March 2011 [PDF - 83KB]

The Insurance Council of Manitoba Issues Guidance Notes To Licensees – Individual Variable Insurance Contracts

The Insurance Council of Manitoba (ICM) has issued Guidance Notes to advisors who sell Individual Variable Insurance Contracts (IVICs)—otherwise known as segregated funds. The Guidance Notes outline the basic information that must be considered prior to proceeding in an investment in segregated funds, along with the minimum documentation that should be kept in the client file.

Bulletin #039-01/11 – January 2011 [PDF - 84KB]