This committee was established by CCIR with CISRO representation to develop policy and procedures for the consideration of requests for special licenses.

In January 2004, CCIR released a consultation paper entitled “Referral Arrangements” for review and comment by all interested parties. The paper was developed in response to stakeholders’ concern that the full Life Licence Qualification Program (LLQP) should not apply to certain types of financial services intermediaries, as for example, securities registrants transacting segregated fund business.

The consultation period ended on March 5, 2004. A total of 10 responses were received. The Committee reviewed the responses and prepared some initial recommendations. Since that time, however, CCIR embarked on the Industry Practices Review Committee (IPRC) to examine relationships between insurance companies and their sales intermediaries another project. As the IPRC could have some ramifications on the decisions that are eventually made regarding referral arrangements, the work of the Licence Considerations Committee was moved to the IPRC.