Aspects of regulator’s administrative monetary penalties regime called into question.

Special exemption for industry’s self-regulator called out as being counter to the public interest.

Commits to seeking input from practitioners and consumers every two years.

Agent and firm also penalized for allowing unlicensed activity and lying to investigators.

Minister of Finance approves amendment to Unfair or Deceptive Acts or Practices rule.

Who’s who of insurance representatives to provide operational and technical advice.

New Self-Regulatory Organization of Canada already overseen by securities commission.