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Canada: Supreme Court Rules Today That Banks´ Insurance Activities Also Subject To Provincial Insurance Regulation

11 June 2007
Article by Stuart Carruthers and Peter Hamilton

Canadian Western Bank v. Alberta
2007 SCC 22 (Supreme Court of Canada)

MAY 31, 2007 - The Supreme Court of Canada today unanimously upheld the Alberta Court of Appeal ruling in Canadian Western Bank v. Alberta, under which Canada's federally chartered banks - eight of which were jointly the appellants in the case - are subject to provincial regulatory regimes with respect to the distribution of the kinds of insurance banks have been permitted, under the Bank Act, since 1991, to distribute in their branches....
 
 
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