It is certainly not a function that is now performed by a regulatory body. It's really business decision-making that determines to whom the products are sold.
The sector is regulated. The Superintendent of Financial Institutions regulates the risk of mortgage insurers. Since insurance is a shared jurisdiction, provincial governments regulate market conduct of insurance companies, including mortgage insurers; the committee heard testimony about certain practices that are prohibited under provincial law. There are disclosure requirements in federal law that require charges and fees to be made known to people purchasing insurance products. As well, of course, we have the Competition Act, which deals with any anti-competitive practices that may be occurring in this sector or in any other sector.