Statement on CCIR and CISRO announcement on deferred sales charges
News ReleaseRelease Date: 02/10/2022 Staff Reference: Kevin Dorse
(Toronto, February 10, 2022) – Canada’s life and health insurers support the broad efforts of the Canadian Council of Insurance Regulators (CCIR) and the Canadian Insurance Services Regulatory Organizations (CISRO) to better align the regulatory environments for segregated funds and mutual funds.
This includes today’s announcement by the CCIR and CISRO that the industry should begin a transition towards the cessation of new DSCs for segregated fund sales by June 1, 2023.
Our industry looks forward to continuing to work collaboratively with the CCIR and CISRO on this important initiative.