Lobbying Information
Subject Matters
- Education
- Financial Institutions
- Industry
- Pensions
- Privacy and Access to Information
- Small Business
- Taxation and Finance
- Telecommunications
Subject Matter Details
Legislative Proposal, Bill or Resolution
- Bill C-12: An Act to amend the Personal Information Protection and Electronic Documents Act. In discussions with the Minister of State (Seniors); Employment and Social Development Canada (ESDC) regarding the ability of individuals to pass on personal information to government and other authorities in situations where there is suspicion of elder financial abuse.
- Financial Institutions -We participate in any review of the Bank Act to ensure that consumers are adequately protected and a level playing field is maintained.
- Securities Regulation: Participating in discussions regarding a National Securities Regulatory Framework
- Taxation - Changes to Harmonized Sales Tax (HST) rules and the Excise Tax Act so that all investment products have fair and equal tax treatment.
- Telecommunications - We participate in consultations and undertakings by the government related to the National Do Not Call List, The Unsolicited Telecommunications Rules and the Telecommunications Act to ensure that legitimate business uses of telecommunications can continue and our members can communicate with their clients and potential clients in an efficient manner. We would like to obtain equivalent treatment for our members regardless if the financial advisor is an insurance advisor as opposed to being an investment advisor by receiving an exemption from the Unsolicited Telecommunications Rules if making telecommunications to existing clients.
Legislative Proposal, Bill or Resolution, Policies or Program
- Financial Institutions - Changes to the proposed Canadian Securities Act ("Securities Act") to change the definitions of "advisor", "company", "person" and individual", as well as change policy approaches to regulation of capital markets.
- Taxation and Finance - We will participate in proposed amendments to the Goods and Services Tax ("GST")/Harmonized Sales Tax ("HST") treatment of financial services as set out in Bill C-9, the Jobs and Economic Growth Act and in any resulting changes to Canada Revenue Agency's GST/HST Notice No. 250 ("Notice 250").
Legislative Proposal, Bill or Resolution, Regulation
- Industry - In discussions with Treasury Board regarding Red Tape Reduction.
Policies or Program
- Advocis will discuss possible programs and services related to increasing financial literacy of Canadians with the new Financial Literacy Leader and the Financial Consumer Agency of Canada
- Pensions - Participating in discussions regarding changes to the Retirement Income System to improve pension coverage and retirement income adequacy for Canadians.
Policies or Program, Regulation
- 2013 Federal Budget announced it will be reviewing competition in financial services and undertaking a review of the regulatory framework, including the process for approval of new financial institutions.
- Advocis will be discussing the need to raise professional standards for financial advisors and will seek federal government support to encourage provincial governments to create financial advisor professional standards in provincial legislation. This may also impact the federal government's involvement in securities regulation.
Regulation
- Financial Institutions - Proposed amendments to Canada Regulation 92-330 - Insurance Business (Banks and Bank Holding Companies) Regulations to have the regulations apply to insurance business activities of banks on their web-sites and the underlying policy intent that banks should separate insurance business from banking business.
Communication Techniques
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Written communication
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Oral communication
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Grass-roots communication
Government Institutions
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Canada Revenue Agency (CRA)
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Canadian Radio-television and Telecommunications Commission (CRTC)
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Employment and Social Development Canada (ESDC)
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Finance Canada (FIN)
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Financial Consumer Agency of Canada (FCAC)
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Industry Canada
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Office of the Superintendent of Financial Institutions Canada (OSFI)
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Prime Minister's Office (PMO)
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Treasury Board Of Canada Secretariat (TBS)
In-house Organization Details
Description of the organization's activities
The Financial Advisors Association of Canada, currently carrying on business as Advocis, is a national voluntary association of professional financial advisors and planners whose members may be licensed by provincial regulators to sell life and health insurance, mutual funds or securities. By “An Act to Amalgamate the Canadian Association of Insurance and Financial Advisors and the Canadian Association of Financial Planners under the name The Financial Advisors Association of Canada” (TFAAC). The core activities of the Association are concerned with the education and professional development of its members, to encourage all members to obtain and promote the Chartered Life Underwriter (CLU), Certificated Financial Planner (CFP) or Certified Health Insurance Specialist (CHS) designations. The Association is a market conduct standard setting body and enforces a code of professional conduct and is engaged in the development of practice standards for Financial Advisors and Planners. TFAAC maintains and operates an advocacy program with government regulators and policy makers aimed at ensuring a positive legislative environment and climate to promote and protect financial advisors in the public interest.
Responsible officer name and position during the period of this registration
Greg Pollock,
President & Chief Executive Officer (CEO)
Organization's membership or classes of membership
TFAAC maintains a number of classes of membership including full, associated and honourary memberships, the details of which are set our in the Association’s constitution and by-laws.
Government funding
No government funding was received during the last completed financial year.
In-house Organization Contact Information
Address:
390 Queens Quay West
Ste 209
Toronto, ON M5V 3A2
Canada
Telephone number:
416-342-9813
Fax number:
416-444-8031
Lobbyists Details
Employees who lobby for the organization
- Peter McLachlin,
Senior Policy Analyst |
No public offices held
- Greg Pollock,
President & CEO |
No public offices held
- James Ryu,
Associate Director, Regulatory Affairs |
No public offices held
- Ed Skwarek,
Vice President, Regulatory and Public Affairs |
No public offices held
- Peter Tzanetakis,
Vice President Government and Corporate Relations |
No public offices held