compliance

The launch of APEXA

As you may have heard, an innovative new system is about to hit our industry.

The new system—APEXA—is an industry-built, cloud-based solution for life advisor contracting and compliance, available to all life insurance carriers, Managing General Agencies (MGAs), and life insurance advisors, across Canada.

Financial Horizons Group (FHG) has been heavily involved in this project for the past four years and is excited for its imminent launch.

New Obligations: Politically Exposed Persons and Heads of International Organizations 

Effective June 17, 2017, amendments to the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) and associated regulations resulted in new obligations regarding politically exposed persons (PEPs)—both domestic and foreign— as well as heads of international organizations (HIOs). FINTRAC has published guidance describing these obligations.