Issue link: http://clhia.uberflip.com/i/834345
important focus for the CLHIA. With this in mind, we redesigned our Clear Communicator website resource that focuses on financial literacy and plain language resources and information. Further, the CLHIA's President and CEO was named to the National Steering Committee on Financial Literacy that provides advice and support to Canada's Financial Literacy Leader. OECD Project to Prevent Base Erosion and Profit Shifting (BEPS) c The CLHIA's continued advocacy on the OECD's Base Erosion and Profit Shifting (BEPS) proposals resulted in the OECD adopting a very favourable approach with respect to addressing BEPS involving Interest Expense in the Banking and Insurance Sectors. Specifically, the OECD decided not to recommend specific (and highly problematic) rules for insurance. Payments System c The CLHIA continues to provide leadership and support for the modernization of Canada's payments system, and was elected to chair Payments Canada's Stakeholder Advisory Council for a further term, as well as continuing to represent the industry on the Department of Finance's FinPay Committee. AML/ATF Compliance c Over the past year, the CLHIA worked on various Anti-Money Laundering (AML) initiatives, including: representations to the federal Department of Finance on the five-year review of AML/ATF legislation; participation on Finance's Advisory Committee on Money Laundering and Terrorist Financing, which provides the government with expert industry advice; providing input to the government on new rules dealing with Politically-Exposed Persons; and supporting the GFIA's objectives. Further, the CLHIA continued to provide a forum for members to share information on AML best practices. Privacy c The CLHIA made representations to Innovation, Science and Economic Development Canada on draft data breach reporting regulations that will be made under the federal private- sector privacy legislation. We also provided input to the federal Privacy Commissioner on the appropriateness of the existing consent model and on a draft guidance document regarding the legislation's fraud investigation provisions. As well, CLHIA made representations to Alberta as the province is conducting a comprehensive review of its private-sector privacy legislation. Updates to Provincial Insurance Legislation c Industry efforts continued on the update of provincial insurance legislation, with particular emphasis on representations on draft regulations in Saskatchewan, A Message from the President and CEO Board of Directors Review of the Year's Results CLHIA Code of Member Service Members CLHIA Officers Chair's Message