IIROC and Life Insurance Council of Saskatchewan join forces

By Staff | June 2, 2017 | Last updated on June 2, 2017
1 min read

An agreement has been struck between IIROC and the Life Insurance Council of Saskatchewan (LICS), and the goal is to prevent rule breakers from moving from the jurisdiction of one regulator to another without scrutiny.

As part of a Memorandum of Understanding, IIROC and LICS will share information on investigations and discipline, including names of individuals refused registration or licensing, names of individuals under investigation and names of licensees who have had terms and conditions imposed on their registration or licensing.

And, when necessary, the agreement allows the two regulatory organizations to co-ordinate investigations, such as when the same individual is under investigation by both regulatory organizations.

IIROC also has information sharing agreements with insurance regulators in Alberta, British Columbia, Ontario and Quebec.

“This agreement helps to close gaps and enables both our organizations to strengthen consumer protection,” says IIROC president and CEO Andrew Kriegler.


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