HUB has identified a notable increase in licensing violations among our advisor network. This bulletin serves to remind all advisors of their ongoing licensing obligations and to outline the steps required to ensure continued compliance.

Common Violations Identified
Recent compliance reviews have highlighted the following recurring issues:

• Conducting sales or providing advice while a provincial licence is lapsed, expired, or not yet issued.
• Missing provincial renewal deadlines, resulting in a lapse in authority to act.
• Offering products or advice in provinces/territories not covered by the advisor's current licence.

Potential Consequences

• The advisor may be reported to the provincial regulator for the licensing violation. 
• Financial penalties imposed by provincial regulators. 
• Licence suspension or permanent cancellation of licence. 
• Supervision requirement. 

Preventative Actions for Advisors

• Check licence expiry dates and diarize for proactive renewal.
• Diarize your E&O insurance expiry date to ensure it is always current and where required E&O information has been provided to the Regulator. 
• Ensure your continuing education credits are up to date for all applicable provincial requirements and properly recorded. 
• Confirm client location and cease all sales and advisory activity in any province where your licence is not currently active. 
  
  

No Licence, No Business - Stay Licensed, Stay Compliant!

Good Business is Compliant and Compliance Matters!