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CANADIANLAWYERMAG.COM/INHOUSE MARCH 2017
REGULATORY MATTERS loom large for most in-house departments
these days, but for the insurance and fi nancial services sector in Quebec
a general strike by government lawyers in that province has delayed some
much-anticipated revised legislation.
"We are awaiting the amended legislation to come out in terms of
the [Quebec] Insurance Act and the Act Respecting the Distribution of
Financial Products and Services," says Jennifer Dibblee, vice president,
legal services and corporate secretary with Industrial Alliance Insurance
and Financial Services Inc.
"I think it would have come out at the end of 2016 if it hadn't been for
the fact that the lawyers for the government have been on strike since early
fall, so that has slowed down the actual publication of the draft legislation."
The 1,100 members of the union Les avocats et notaires de l'État québé-
cois have been without a collective agreement for more than 18 months.
"We are expecting both the Insurance Act and Distribution legislation
to be going through its review and overhaul and new legislation coming in
2017," Dibblee says, adding that the company participated in the consultation
process in 2015 and 2016. "Once we see the draft legislation, that will be an
issue for us to follow closely to bring work
into the department in 2017."
The Industrial Alliance head offi ce
is located in Quebec City. There are 38
lawyers for IA spread across the country
in four offi ces including Quebec City,
Toronto and Vancouver.
Being in the fi nancial services sector,
Dibblee handles a lot of regulatory
work that is specifi c to the province and
nationally. Industrial Alliance is an insurance
company, but it also has a wealth management
business line that includes mutual fund distributors
Balancing act
In-house departments in Quebec juggle
provincial specifi c legislative and regulatory
issues along with challenges of cybersecurity
and growth through acquisition.
BY JENNIFER BROWN
