What is the required timeframe for notifying the SFSC about a change in marital status?

The requirement for notifying the Saskatchewan Financial Services Commission (SFSC) about a change in marital status is set at a timeframe of 7 days. This period is important as it ensures that the SFSC can update records and ensure that any associated financial products or obligations reflect the individual's current situation. Timely notification is crucial in the context of mortgages and financial services, as marital status can affect creditworthiness, liability, and even eligibility for certain types of loans or programs. By providing this notification within the specified timeframe, individuals help maintain compliance with regulatory standards and ensure that their financial matters are handled accurately and without delay.