On May 31st, 2019, The Canadian Life and Health Insurance Association (CLHIA) announced that it is withdrawing Guideline G19 on advisor compensation for group benefits and group retirement services. Here is a copy of the press release, for ease of reference.
“Following extensive discussions with market players, including advisors and their associations, and careful consideration of what we heard, we have decided to withdraw this industry guideline,” Stephen Frank, CLHIA’s President and CEO said. “Our industry is still strongly in favour of market transparency and plans to work closely with regulators and other stakeholders on these matters going forward.”
Empire Life supports this move, and we are proud of the leadership Mark Sylvia has demonstrated on this file, both as our Empire Life President and CEO and as the Chair of the Board of the CLHIA.