| The
three working groups on streamlining reported at the
meeting:
Agent/Broker Licensing
This working group looking at agent and broker harmonization
issues made recommendations on its priorities. The working
group intends to solicit input from the industry.
Company Licensing, Solvency
and Information Filings
OSFI has undertaken the Business Systems Integration
Initiative (BSII) to streamline, standardize and redesign
some of its "core" supervisory processes,
including federal financial and corporate filings. Once
implemented, it is expected that the BSII will address a
number of the proposals recommended by industry pertaining
to filing requirements. The working group will continue to
review other proposals related to provincial corporate and
financial filings and solvency regulation.
Market Conduct and Other
Issues
The working group has identified a number of issues which
require greater input from stakeholders. Over the next
couple of months, the working group will be conducting
further research and seeking additional information from
stakeholders about the proposals and their feasibility. |
