Advisors receive some clarity on anti-trafficking legislation

B.C.’s financial services regulator has confirmed that gifts of life insurance to charities won’t generally be considered trafficking in life insurance.

In a bulletin dated May 2020, the B.C. Financial Services Authority (BCFSA), which has overseen financial services in the province since November 2019, clarified its position on the interpretation and application of Section 152 of the province’s insurance act.

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