October 25, 2018
Changes to when a Verification of Identity form is required

Starting October 30, 2018, Verification of Identity (VOI) for transfer of ownership related to a death of a policy/contract owner is now a requirement for the following products:

July 05, 2018
Completing non face-to-face AML/ATF requirements is now easier

As the result of advisor feedback, we've redesigned the Non face-to-face verification by agent or mandatary, third party determination and politically exposed persons (PEP) form. This form now includes the third party determination and politically exposed persons sections. All of the required information is now requested on one form.

April 12, 2018
What you need to know about CRS pre-existing account reviews and CRA reporting

As part of our obligation to comply with Income Tax Act requirements related to the Common Reporting Standard (CRS), we must conduct pre-existing account reviews for individual and entity accounts that are in force as of June 30, 2017. The CRS requires Canadian financial institutions to review these accounts for signs of a connection to a foreign tax jurisdiction. To support compliance, you’ll need to remind clients to complete the self-certification forms.

February 15, 2018
Ensure you're providing the correct AML/ATF documents for corporate/entity clients

In a communication last year, we informed you if you’ll need additional documents to verify a corporation’s existence and identify its signing officers. Sun Life Financial and advisors are responsible for meeting the obligations under the Anti-Money Laundering (AML) and Anti-Terrorist Financing (ATF) regulations.

February 01, 2018
Sample Reasons Why client letters now available

As communicated in the October 19 NewsFlash, effective January 1, 2018, all advisors should have best practices in place to follow the elements of needs-based sales practices as described in The Approach, including providing clients with a Reasons Why letter.

October 19, 2017
What you need to know about new needs-based sales practices

At Sun Life Financial, we’re dedicated to putting clients first in everything we do. Treating clients fairly is always our goal and protecting both our clients and your business is a good business practice that aligns with our regulators’ focus.

August 10, 2017
Marketing assistants may not verify the identity of your clients

As an insurance-licensed individual or entity, you're obligated under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act to verify the identity of certain clients. You're not permitted to have your licensed marketing assistant complete the verification of identity with your clients.

June 29, 2017
Start using new CRS forms on July 1

Don't forget on July 1, 2017, you must start complying with the new tax reporting requirements. It's the day the new data collection and reporting requirements in the Income Tax Act related to the Common Reporting Standard (CRS) go into effect. Whenever clients open a new account or change their circumstances, they'll need to provide additional information.

June 15, 2017
Get ready for the upcoming AML/ATF regulatory requirements

The new Anti-Money Laundering (AML)/ Anti-Terrorist Financing (ATF) regulatory requirements take effect starting June 17, 2017. The legislative changes require you to collect additional information from clients whenever they open a new account or change their circumstances.

June 01, 2017
Now available: new forms for AML and tax requirements

Starting in a couple of weeks, 2 new sets of regulatory requirements will affect your business. Whenever clients open a new account or change their circumstances, they'll need to provide additional information.

May 18, 2017
You now need to use updated Sun Life GIFs point-of-sale materials We've updated the point-of-sale materials, marketing materials and some of our administrative forms for Sun Life Guaranteed Investment Funds (GIFs).
April 20, 2017
22 forms are changing - here's how to get readyNew regulatory requirements starting in June 2017 will affect how you do business and the amount of information clients will need to provide. You'll need to be aware of these legislative changes, so that you can gather the correct information from clients and stay compliant.