Canada Life | eBulletin

In this week’s issue:

1. Provincial legislation prohibits payment of commissions to unlicensed advisors

• When an advisor’s license expires, they are “out of license” and must not engage in sales activities until a new license is issued.
• Advisors who submit business while out of license will not receive commission on that business.

2. New anti-money laundering obligations means updating your compliance program

• You have an obligation under the Act to implement a compliance program to ensure your business has compliant reporting, record keeping and client identification requirements.
• If you had an anti-money laundering compliance program in place before Feb. 1, 2014, youwill need to update your existing program.

3. Reminder: Term conversion scans coming soon

4. First quarter total participating account investment report

• Now updated to March 31, 2014

5. Wealth management operations monthly update for June 2014

• Forms, Applications, Info Folders Updated
• Ontario Financial Hardship unlocking: Key points to remember