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Life Agent Reporting Form -- For use by Insurers Reporting Unsuitable Agents (Advisors) to Regulators


Release Date: 12/16/2014
Staff Reference: Justin Glinski

December 2014

Reference Document:
Life Agent Reporting Form
For use by Insurers Reporting Unsuitable Agents (Advisors) to Regulators

Instructions to Insurers

Guideline G8 describes three general sets of circumstances in which insurers may report concerns about the suitability of an advisor (see Section 9 of the Guideline). The Life Agent Reporting Form (LARF) is intended to be used by insurers when reporting concerns to a regulator.

If two or more advisors are involved in the incident or incidents giving rise to the concerns, separate LARFs should be completed for each individual advisor.

Reports of concerns about money laundering and/or terrorist financing should be submitted directly to FINTRAC. This form is not intended for that purpose.

Reports of concerns about privacy breaches should be submitted directly to the appropriate privacy regulator. This form is not intended for that purpose.

Reports to other industry stakeholders (the third situation described in the Guideline) of concerns about an advisor's suitability are likely to vary with the circumstances. This form is not intended for that purpose.

This form may be used to inform an advisor of a report to a regulator of concerns related to his or her suitability.