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Canada Deposit Insurance Corporation Deposit Insurance Information By-law (SOR/96-542)

Regulations are current to 2022-07-25 and last amended on 2020-12-13. Previous Versions

Warning Statements for Ineligible Deposits (continued)

  •  (1) [Repealed, SOR/2019-186, s. 5]

  • (2) If a member institution elects to affix a warning statement to any document evidencing that the member institution has received or is holding money that does not constitute a deposit that is eligible to be insured by the Corporation, the statement shall be in substantially the same words as one set out in one of paragraphs 9(1)(a) to (c).

  • SOR/99-385, s. 6
  • SOR/99-465, s. 1(F)
  • SOR/2006-334, s. 10
  • SOR/2017-215, s. 9
  • SOR/2019-186, s. 5

 [Repealed, SOR/2017-215, s. 10]

Lists of Trade Names and Financial Products

 A member institution shall not, in the course of its deposit-taking activities relating to deposits eligible to be insured by the Corporation, use one of its trade names in its representations about who is a member institution, what constitutes a deposit or what constitutes a deposit that is insured by the Corporation, unless the member institution

  • (a) prepares and maintains an up-to-date list of those trade names;

  • (b) makes the list available on its website in a location that a depositor would be reasonably expected to look for information about the member institution’s trade names;

  • (c) provides the Corporation with a copy of the list with its Return of Insured Deposits;

  • (d) provides the Corporation with not less than 15 days’ notice of any new trade name to be used in the course of its deposit-taking activities relating to deposits eligible to be insured by the Corporation and the date of the intended first public use of that trade name by the member institution; and

  • (e) permits the Corporation to make the contents of the list, and any updates to the list, available to the public.

  •  (1) A member institution shall prepare and maintain an up-to-date list of each type of instrument evidencing that the member institution has received or is holding money from or on behalf of a person

    • (a) that constitutes a deposit that is eligible to be insured by the Corporation;

    • (b) that is or is to be set out in the member institution’s Return of Insured Deposits; and

    • (c) in respect of which the Corporation collects a premium in accordance with section 21 of the Act.

  • (2) The list shall be

    • (a) in printed form; or

    • (b) entered or recorded by any system of mechanical or electronic data processing or any other information storage device that is capable of reproducing any required information in intelligible written form within a reasonable time.

  • (3) A member institution shall provide a copy of the list to the Corporation with its Return of Insured Deposits.

  • SOR/99-385, s. 4
  • SOR/2006-334, s. 8
  • SOR/2017-215, s. 8

Statement Regarding Compliance

 A member institution shall state whether or not it is in compliance with this By-law and shall submit that statement with the Return of Insured Deposits.

  • SOR/2017-215, s. 12
 
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