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Canada Deposit Insurance Corporation Deposit Insurance Information By-law

Version of section 4 from 2018-09-30 to 2020-04-29:

  •  (1) If a member institution makes a representation about its status as a member institution in its advertising, other than by displaying the membership sign or badge, it shall use one of the following representations, or a representation in substantially the same words as any of the following representations:

    • (a) “Member of the Canada Deposit Insurance Corporation” (or “A Canada Deposit Insurance Corporation member”);

    • (b) “Member of the CDIC” (or “A CDIC member”);

    • (c) “(name of the member institution) is a member of the Canada Deposit Insurance Corporation”; or

    • (d) “(name of the member institution) is a member of the CDIC”.

  • (2) Subject to subsection (3), the representations may appear anywhere in the advertising of a member institution, if the location at which and the manner in which they are displayed do not give the impression that

    • (a) a person is a member institution when they are not a member institution; or

    • (b) a deposit is insured by the Corporation when it is not eligible to be insured by the Corporation.

  • (3) If the advertising does not deal exclusively with deposits that are eligible to be insured by the Corporation, the member institution shall not make any of the representations referred to in subsection (1) unless the statement set out in paragraph 9(2)(a) appears in close proximity to the representations respecting the deposits that are not eligible to be insured by the Corporation.

  • SOR/2006-334, s. 4
  • SOR/2017-215, s. 3

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