Paul Mahon on self-regulation
From Advocis Symposium 2009 - Paul Mahon - Pt.3 · · Advocis, The Financial Advisors Association of Canada
“These need to be our rules, not a regulator's rules. We need to make sure they achieve the desired objectives. There's two approaches we could take: a self-regulated organization or a partnership of regulators, insurers, and suppliers like MGAs.”
On , Paul Mahon, Executive Vice President, General Counsel & Corporate Secretary at UNITED THERAPEUTICS CORP, spoke about self-regulation during Advocis Symposium 2009 - Paul Mahon - Pt.3 on Advocis, The Financial Advisors Association of Canada.
About Paul Mahon
At a 2009 Advocis Symposium, Paul Mahon discussed the Canadian insurance industry's approach to regulation and professional development. He argued that the industry should collectively decide whether to create its own rules or wait for regulators to impose them, describing this as a "clear challenge." Mahon emphasized the need for Canadian principles-based guidelines to remain aligned with other jurisdictions, including the UK, Australia, and the US, noting that Canadian regulators would look to those regions. Mahon also addressed training and development, stating that university education is a starting point but that significant growth in salesmanship requires mentoring and succession strategies. He expressed support for programs like the Seneca College model and suggested that nationalizing such education could help MGAs, brokers, and insurance companies develop new talent. Mahon questioned whether the industry should move to a salaried base model, calling it an "interesting" possibility, while stressing the importance of effective implementation and commitment to client-focused practices.