The past 12 months were marked by increased regulatory scrutiny, in particular with respect to tiered recruitment.

  • The Financial Services Regulatory Authority of Ontario proposed a compliance order against Greatway Financial Inc.  

Regulator proposes cease and desist order against Greatway Financial - Insurance Portal (insurance-portal.ca) 

  • A joint review of three MGAs was led by the Financial Services Regulatory Authority of Ontario on behalf of six jurisdictions and the Canadian Council of Insurance Regulators. 

Joint regulatory review takes aim at tiered recruitment managing general agencies - Insurance Portal (insurance-portal.ca) 

  • Sun Life reviewed its compensation structure for advisors. 

Sun Life revamping advisor compensation model - Insurance Portal (insurance-portal.ca) 

  • Empire Life acquired and amalgamated a number of MGAs. 

Empire Life acquires six firms and forms new managing general agency - Insurance Portal (insurance-portal.ca) 

  • In a letter to the editor, Experior shared its concerns about regulators’ report. 

Letter to the Editor - Experior responds to regulators’ report - Insurance Portal (insurance-portal.ca)