FSRA forming committee to look at potential MGA regulation

By The IJ Staff | September 29 2020 03:19PM

Photo: Freepik

The Financial Services Regulatory Authority of Ontario (FSRA) announced Sept. 25 that it is forming two new technical advisory committees for the Life & Health Insurance sector. It is currently seeking members to join these committees.

The purpose of one committee will be to advise the regulator on “potential frameworks for regulating and supervising distribution channels that rely on managing general agencies (MGAs).” The other will focus on “increasing regulatory effectiveness of segregated funds,” says the FSRA announcement.

The regulator will choose members of the committees based on their professional experience in the life and health insurance sector, as well as their knowledge and understanding of relevant issues.

The advisory committees are ad hoc, special purpose committees. To learn more about the committees click these links: Distribution Channels that Rely on MGAs or Segregated Funds

The deadline to apply is Oct 26.

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