Mortgage Professionals Canada (MPC) is calling on British Columbia's incoming provincial government to review and address concerns with the Restricted Insurance Agent (RIA) licensing framework ahead of its January 1, 2027 implementation.
MPC is concerned that the current requirements could introduce unnecessary administrative and financial burdens for mortgage brokers and their businesses, while potentially limiting consumer access to important insurance products.
What's changing?
A concise explanation of the regulations, their implementation timeline and implications for mortgage professionals.
MPC's advocacy efforts
An overview of MPC's engagement with government officials, the Insurance Council of British Columbia and other industry stakeholders, including recommendations to reduce regulatory burden and improve harmonization with other provinces.
How mortgage professionals can help
MPC encourages affected mortgage professionals to share their concerns with elected officials and support efforts to improve the framework before implementation.