Insurance and Real Estate

Insurance and Real Estate

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Insurance - Statistical Report of the Superintendent of Insurance

December 29, 2021 -  The Superintendent of Insurance released the Annual Report for 2020.

 


Insurance - The FCAA's 2021-2024 Strategic Plan

April 13, 2021 -  The FCAA has released its 2021-2014 Strategic Plan.

 


Insurance - Statistical Report of the Superintendent of Insurance

December 9, 2020 -  The Superintendent of Insurance released the Annual Report for 2019.

 


Insurance and Real Estate – The Real Estate Act and The Real Estate Regulations are now in force

May 20, 2020 -  Effective today, amendments to The Real Estate Act (the “Act”) and The Real Estate Regulations (the “Regulations”) are now in force. 

These amendments are the result of a multi-year project to support the efficient regulation of real estate in Saskatchewan and to facilitate the use of modern technologies in real estate transactions. For a full list of the changes to the Act and Regulations, please review The Real Estate Amendment Act, 2019 , and The Real Estate (Miscellaneous) Amendment Regulations, 2020 

Amendments to the Act include:

  • changes to the bylaw making process, granting the Saskatchewan Real Estate Commission (the “Commission”) more autonomy over the creation of bylaws related to the administration of the Commission;
  • changes to the disciplinary process that permit the Registrar to appeal a decision of the Commission where it is in the public interest to do so; 
  • the ability to make regulations regarding the use of an electronic signature program, including requirements for the witnessing of electronic signatures; and
  • updating the penalties that may be levied against a registrant. Registrants found guilty of professional incompetence or misconduct may be subject to a maximum fine of $25,000 for each finding and a maximum for $100,000 for all findings. The Commission has been granted the authority to levy special penalties in the case of a breach of specified provisions of the Act and Regulations.  

Amendments to the Regulations include:

  • a waiver of the witness requirement for certain documents when signed using an electronic signature program that meets the requirements of the Commission’s Bylaws; 
  • a provision that enables the Commission to make an order for restitution if a registrant has committed professional incompetence or professional misconduct; 
  • a list of specific contraventions of the Act and Regulations which may be levied by special penalty, and the amount of the corresponding penalty; and 
  • a provision allowing a registrant to trade through another brokerage when they are trading in in real estate property in which they have an interest, provided certain conditions are met.

The Commission’s Bylaws have also been amended to facilitate the use of electronic signatures without a witness. The amendments to the Bylaw come into force upon publication in the Saskatchewan Gazette, which we anticipate to be May 22, 2020. Registrants are encouraged to contact the Commission for more details regarding compliance with the new bylaw. 

For more information, questions or comments email fcaa@gov.sk.ca

 


 

Insurance and Real Estate - Proclamation of The Insurance Act

November 22, 2019 - The Insurance Act will be proclaimed into force January 1, 2020, as set out in the Order in Council.

For more information, please contact:

Janette Seibel
Director of Insurance and Real Estate
Phone: 306-787-2953
Email: janette.seibel@gov.sk.ca
 


Insurance and Real Estate - Statistical Report of the Superintendent of Insurance

September 17, 2019 -  The Superintendent of Insurance released the Annual Report for 2018.

 


Insurance and Real Estate – Consultation on the regulation of Financial Planners and Financial Advisors

August 9, 2019 - The Financial and Consumer Affairs Authority of Saskatchewan today issued a consultation on the regulation of financial planners and financial advisors.

Consultation Letter

The consultation period ends September 9, 2019.

For more information contact:

            Dean Murrison, Director
            Securities Division
            Financial and Consumer Affairs Authority of Saskatchewan
            601, 1919 Saskatchewan Drive
            Regina, Saskatchewan S4P 4H2
            Email: finplannerconsult@gov.sk.ca

 


Insurance - Transition to The Insurance Act and The Insurance Regulations

May 17, 2019 - Then Insurance and Real Estate Division has created a new webpage containing information regarding the transition to The Insurance Act and The Insurance Regulations, including guidelines and interpretation bulletins regarding new requirements, and information regarding proclamation of the legislation. 

 


Insurance - The Insurance Amendment Regulations, 2019 filed with Registrar of Regulations

January 23, 2019 - On January 22, 2019 The Insurance Amendment Regulations, 2019 were filed with the Registrar of Regulations. These Regulations amend The Insurance Regulations, which will come into effect when The Insurance Act is proclaimed into force. 

The Superintendent of Insurance will be recommending that The Insurance Act and The Insurance Regulations come into force on January 1, 2020. FCAA officials will be working toward the implementation of the new legislation throughout 2019 in anticipation of the new Act coming into force on the recommended date. Further information regarding the transition will be provided as it becomes available. In the meantime, we encourage all licensees to become familiar with the new legislation.
 


Insurance - Statistical Report of the Superintendent of Insurance

October 31, 2018 - The Superintendent of Insurance released the Annual Report for 2017.

 


 

Insurance - Amendments to The Saskatchewan Insurance Regulations, 2003

October 29, 2018 - The Saskatchewan Insurance Regulations, 2003 have been amended as set out in the Order in Council.

For more infomation please contact:

Janette Seibel
Acting Director of Insurance and Real Estate
Phone: 306-787-2953
Email: janette.seibel@gov.sk.ca

 


 

Insurance - Statistical Report of the Superintendent of Insurance

January, 2018 – The Superintendent of Insurance released the Annual Report for 2016.

 



Insurance - The Insurance Regulations

June 22, 2017 -     On June 22, 2017, The Insurance Regulations were filed with the Registrar of Regulations. These Regulations will come into effect when The Insurance Act is proclaimed into force. Further information regarding the timing of the implementation of the new Act and Regulations will be provided in the future.

For more information please contact:

Janette Seibel
Legal Counsel, Legal Branch
Financial and Consumer Affairs Authority of Saskatchewan
601-1919 Saskatchewan Drive 
Regina, SK S4P 4H2 
office: 306.787.2953
fax: 306.798.4425 
email: janette.seibel@gov.sk.ca

 


 

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Insurance and Real Estate Division

Suite 601, 1919 Saskatchewan Drive

Regina, Saskatchewan S4P 4H2

Tel: (306)787-6700

Fax: (306)787-9006

Email: fcaa@gov.sk.ca

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