The Canadian Life and Health Insurance Association (CLHIA) announced that it is using artificial intelligence (AI) tools to detect insurance fraud in group benefits plans. AI technology is revolutionizing the insurance industry’s ability to combat fraud and ensure the...
Quebec’s Bill 92 proposes to combine the Chambre de la sécurité financière (CSF), currently responsible for mutual fund rep supervision, and the Chambre de l’assurance de dommages (ChAD), which oversees property and casualty insurance representatives and to...
The International Organization of Securities Commissions, (IOSCO) published a trio of final reports on finfluencers, online imitative trading practices and digital engagement practices, stemming from a strategic initiative to enhance retail investor protection in the...
The rise of financial influencers on social media has caused concern with the Ontario Securities Commission (OSC) recently finding that 35% of Canadians have followed advice from these sources. The OSC recommends advisors assess their clients’ reliance on such sources...
The government of Ontario has proposed new legislation to enhance the powers of the Canadian Investment Regulatory Organization (CIRO). If passed, Ontario will join Alberta, Newfoundland and Labrador, New Brunswick, Nova Scotia, Prince Edward Island, and Quebec,...
At their recent summit, the International Financial Brokers of Canada (IFBC) offered best practices for advisors. Amid higher regulatory fines and stricter monitoring, tips to advisors include documenting each client interaction, staying within their practice area and...
