Filed Under:Annuities, Sales Strategies

Canada Plans to Ban Banks from Selling Annuity-like Products

AP Photo/Ivan Sekretarev
AP Photo/Ivan Sekretarev

Canada’s Finance Minister Jim Flaherty announced late last week that the Canadian government intends to introduce legislation that would prohibit banks from selling financial products that function like annuities.

“Since taking office, this government has taken steps to clarify the separation of banking and insurance activities,” said Flaherty in a statement released by the Department of Finance. “This will ensure that the business of insurance continues to be subject to the appropriate rules and regulations.”

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Nichole Morford

Nichole Morford
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