Proposed amendments to the General Regulation (O. Reg. 237/09) of the Credit Unions and Caisses Populaires Act, 1994 regarding the promotion of insurance products on credit union websites
O. Reg. 237/09
Bill or Act:
Credit Unions and Caisses Populaires Act, 1994
Summary of Proposal:
The government is proposing to amend the General Regulation to prohibit credit unions from online promotion of insurance products such as home and auto insurance, which they are not permitted to promote in their branches.
As well, an outdated reference to the Cemeteries Act in the regulations will be replaced with a reference to the Funeral, Burial and Cremation Services Act, 2002.
It is proposed that the amendments would come into force on January 1, 2016, subject to Cabinet approval.
January 30, 2015
Comments Due Date:
March 17, 2015
Senior Policy Advisor
Deposit Taking Institutions and Cooperatives Policy Unit
Financial Institutions Policy Branch
Ministry of Finance
Frost North - 4th Floor
95 Grosvenor Street
Toronto, ON M7A 1Z1