FSRA RELEASES PROPOSED PRINCIPLES OF CONDUCT FOR INSURANCE INTERMEDIARIES
The Financial Services Regulatory Authority of Ontario (FSRA) released a consultation on April 6, 2022 on Proposed Principles of Conduct for Insurance Intermediaries (“Proposed Principles”) outlining how it intends to incorporate the Canadian Insurance Services Regulatory Organization’s (CISRO) recently finalized Principles for Conduct for Insurance Intermediaries into its regulatory framework.
The Proposed Principles apply to the distribution and servicing of insurance products.
FSRA expects intermediaries to disclose the Proposed Principles to all clients and to incorporate them into their licensing suitability, supervision, and complaints processes.
The IIAC is reviewing the Proposed Principles.
For more information, please contact Adrian Walrath.