CCIR requests comment on seg fund issues paper

The Canadian Council of Insurance Regulators has published two papers for public consultation, one of which is its Segregated Funds Issues Paper.

This paper has been published because there’s greater international focus on the fair treatment of customers, and the recognition that markets are interconnected, says CCIR. It adds there are also existing and potential gaps between the regulatory frameworks for IVICs and mutual funds, and these need to be addressed.

So CCIR conducted a review of the regulatory regimes for IVICs and mutual funds. The product of this review is its Segregated Funds Issues Paper, which addresses the differences in the regulatory frameworks for segregated funds and mutual funds, and identifies opportunities for further harmonization. Further, the paper considers the impact the regulatory framework has on consumer protection and consumer choice.

The consultation period for this issues paper will be 60 days. The deadline to provide written submissions is July 15, 2016.

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