Which of the following is Mason’s CORRECT response?

Levi is a newly licensed financial security advisor in Quebec City, meeting with Mason, the compliance officer at Yes Insurance Inc. Mason stresses the importance of being professional and complying with the code of ethics. Levi asks who enacted the code of ethics.

Which of the following is Mason’s CORRECT response?
A . Autorité des marchés financiers (AMF).
B . Chambre de la sécurité financière (CSF).
C . Canadian Insurance Services Regulatory Organizations (CISRO).
D . Canadian Council of Insurance Regulators (CCIR).

View Answer

Answer: B

Explanation:

In Quebec, the Chambre de la sécurité financière (CSF) is responsible for enacting and enforcing the Code of Ethics for financial security advisors. The CSF ensures that professionals, like financial security advisors, adhere to ethical standards and provide clients with competent and honest services.

The Autorité des marchés financiers (AMF) oversees the financial market in Quebec, but the CSF specifically regulates the ethical conduct of financial advisors, including those selling life insurance and financial security products.