September looks to be a very busy month for the RCCAQ. In other words, we're rolling up our sleeves and getting back to work! We're aiming for nothing less than excellence in our efforts to deal with the major issues facing our industry. Drawing on the strength of our dedicated permanent staff and the support of our many members, we are ready, willing and able to tackle various challenges that require our full attention. It is my duty to remind you about the issues we face as they will require your full commitment.

Update on the consultation on limitations on brokerage firm ownership rights
On June 23, the RCCAQ submitted its position paper in connection with the Quebec government's consultation on limitations on brokerage firm ownership rights. Entitled "Ensuring Consumer Protection Via Brokers' Independence", this document stemmed from research findings and was designed to defend your interests and those of your clients. After reading the document, many of you welcomed its unifying vision. It should be noted that regardless of the government's final decision on the 20% rule, the RCCAQ believes that the implementation of independence tests for brokerage firms, based on principles already set out in the Income Tax Act, may offer an effective solution to the following issues:

• Ensuring that brokers can maintain direct and personal control over their firms.
• Leaving owners free to determine the most effective financing and business models with a view to ensuring future growth.
• Providing consumers with assurances that they are doing business with a brokerage firm that will defend their interests impartially.

What is our next step? The RCCAQ will be taking part in various private consultations with the government to further explain its position.

Condo insurance consultation: the RCCAQ responds
Following the condo insurance consultation launched by the provincial government, the RCCAQ expressed its support for the Insurance Bureau of Canada's recommendations concerning proposed amendments to the Civil Code in a letter to Quebec's finance minister, Carlos J. Leitão. The RCCAQ's comments were based on insurance brokers' role in this area and their professional obligations to clients. On behalf of the RCCAQ, I would like to thank all of the brokers who contacted us during the consultation to share their views.

Bill 188 to be tabled in September?
We know that the draft Bill 188 could be tabled at the start of the parliamentary  session. The new regulatory framework will require us to work differently as we adapt to a new reality. In this regard, let's be sure to seize all possible opportunities to benefit from the new environment in which we will be operating. Needless to say, the RCCAQ will be supporting you every step of the way.

Consultation on incentive-related conflict of interest risks
The question of incentives has re-emerged with the launch of the AMF's consultation. Your voice deserves to be heard as this issue has a direct impact on your operations. The RCCAQ will be tackling this issue head-on and will be issuing recommendations in the best interests of brokers and their clients. We will be sure to keep you up to date in our communications as progress is made. Please share your comments or thoughts via email before September 18 (communications@rccaq.com).

Bank Act
This issue may seem somewhat abstract and far-removed for many brokers. However, it is one of the most important issues we face! Can you imagine what would happen to your firm if the banks were to return to the insurance market without the strict limitations in place preventing them from selling insurance products at the same time as banking products? Brokers across Canada are joining forces to fight this battle, and the RCCAQ promises to use all of its resources to defend you on this crucial issue.

Federal consultation on income taxes paid by private corporations
On July 18, the federal finance ministry issued a consultation document entitled Tax Planning Using Private Corporations. The proposed changes would have an impact on all brokers who rely on private corporations, including family-owned companies and incorporated professionals. We will be taking steps to ensure that your voices are heard during this consultation by working closely with our national association (IBAC). In the near future, we will be providing you with additional information on the potential impacts of the proposed measures.

Ready to deal with change?
Last spring, when our team was considering potential themes for our upcoming conference, we drew up a list of brokers' concerns. What things prevent you from getting a good night's sleep? Financing, legislative changes, succession issues and technology stood out among the concerns raised most often by our members. We will be discussing these topics, all of which have a bearing on our business practices, from the perspective of change. I look forward to meeting with you on November 15-16 in Quebec City during the RCCAQ's annual convention!
Meanwhile, I hope you had a good summer as we all get back to work. If you have any questions or suggestions, please feel free to email us (communications@rccaq.com).

Kathleen Ann Rake,
Chair, RCCAQ