Retail Wealth Distribution:
UPFRONT COMPENSATION IN SEGREGATED FUNDS
The Canadian Council of Insurance Regulators (CCIR) and the Canadian Insurance Services Regulatory Organizations (CISRO) released for public consultation a discussion paper on upfront compensation paid for the sale and servicing of segregated funds and individual variable insurance contracts (IVICs).
The purpose of this discussion paper is to understand:
The deadline to provide written submissions is November 7, 2022. Following the consultation, CCIR and CISRO intend to move forward with a policy position and national guidance on upfront commissions in sales of segregated funds.