Canadian Council of Insurance Regulators Reviewing Regulatory Framework for Segregated Funds

Clare O’Hara reports in The Globe and Mail that the Canadian Council of Insurance Regulators (CCIR) is reviewing the regulatory framework for segregated funds to identify whether changes are necessary, particularly in light of recent regulatory reforms – such as the Client Relationship Model initiative – that affects similar investment products. The article quotes Anatol Monid, Chair of the Segregated Funds Working Group, as saying that it was of the “utmost importance” to ensure that customers have the information they needed to understand the full costs of segregated funds and how they are performing.  CCIR intends to publish a position paper outlining its recommendations and expectations in the fall, and will also publish a prototype disclosure document in winter 2018 that will identify minimum required information on performance, fees and charges. To read the full CCIR news release, click here.

August 31, 2017