Canada Aims To Curb Banks' Online Insurance Ads

Law360, New York (May 28, 2010, 4:01 PM EDT) -- The Canadian government has unveiled a proposal designed to block banks from touting several types of insurance on their websites, a practice that is already banned in bank branches.

In letters to financial firm trade groups Thursday, Canadian Minister of Finance Jim Flaherty outlined the proposed rules that would keep banks and federally regulated trust and loan companies from promoting “nonauthorized” insurance products — such as life, property or casualty insurance — on their websites.

“These measures were made necessary by the evolving use of technology...
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