With the DSC ban now in effect for segregated funds, firms with insurance advisors selling in Ontario will be interested in reviewing FSRA’s proposed amendment which addresses the removal of DSCs on existing segregated fund contracts. It should be noted that the proposal would apply to transactions that occur after the amendment takes effect (i.e., the amendment won’t be retroactive). The consultation period ends June 30. For clarity, FSRA has created this flowchart on the last page of the proposal.
