INSURANCE

The B.C. Liberals, when previously in Opposition, argued that government monopolies should be subject to broad, independent regulation by the B.C. Utilities Commission. The promise to “restore an independent BCUC” made it into the 2001 party...
The provincial government announced Wednesday it will not grant a one-year extension to residents with outstanding Fort McMurray wildfire insurance claims. The announcement comes after Regional Municipality of Wood Buffalo mayor Don Scott wrote a letter...
British Columbia's financial services regulator is launching a sweeping review that could result in major changes to the governance of the province's credit unions. Financial Institutions Commission superintendent Carolyn Rogers told The Globe and Mail that...
Advocis, The Financial Advisors Association of Canada, is calling on the Canadian Council of Insurance Regulators (CCIR) to find some way to better harmonize the nation-wide implementation of its regulatory solutions. “There has been much progress...
In an unprecedented move, the B.C. government is bringing in a new office to help regulate the red-hot real estate market in the province. Michael Noseworthy has been appointed the new “superintendent of real estate.” The...
B.C. has appointed a new superintendent of real estate to oversee the roll out of new regulations for the industry. Micheal Noseworthy is a former lawyer from Newfoundland and Labrador who has served in a number...
A few months back, B.C.’s mortgage broker regulator fined and banned Jorawar Singh Gosal from the broker industry for 10 years. Mr. Gosal admitted to doctoring a client’s income documents to get his mortgage approved. Given...
B.C.’s auditor general has warned the province’s oversight agency for credit unions is handicapped by an acute staff shortage. On Thursday, Auditor General Carol Bellringer released an audit saying that despite repeated efforts a staff shortage...
B.C.’s Ministry of Finance will introduce tougher guidelines for the approximately 3,400 registered mortgage brokers it oversees in the province. Brokers will have to disclose the specific dollar value of any regular commissions they make. In...
Under its Mortgage Broker Conflict of Interest Guidelines, FICOM is trying to force networks to disclose all bonuses. But does the regulator have that power? The answer, at least concerning some of the networks, is...