Following the recent approval of Bill C-74, the federal government has decided to maintain the separation of activities between banks and insurers currently provided for in the Bank Act. This measure, which was the focus of lobbying efforts on behalf of brokers, is essential because it ensures that consumers will continue to have access to brokers' expertise and objective advice when purchasing insurance.
Although we welcome this decision, IBAC, supported by the RCCAQ and the other provincial associations, will remain vigilant with respect to the regulations governing financial technologies and related issues, including information protection.
We encourage you to read IBAC's press release (issued earlier this week) by clicking here.
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