On March 4, 2010 the CRTC sent out a “Call for Comments” as it relates to the Unsolicited Telecommunications Rules for financial and insurance products and services offered to existing clients.
In the financial bulletin, the Commission concluded that, "taking into account the nature of the service of providing financial advice and the expectations of clients, telecommunications by an investment or financial advisor to an existing client regarding financial products or services do not constitute telemarketing under the Rules; therefore, the Rules do not apply to such calls".
In contrast, in the insurance bulletin, the Commission concluded that, "telecommunications by insurance agents or brokers to sell or promote insurance products or services, including telecommunications to existing clients, constitute telemarketing under the Rules".
The CRTC Call for Comments bulletin can viewed in full by visiting their website - CRTC.
As you can well imagine, IBAO is very much opposed to these rules and has made a submission on behalf of our members stating our position. We will make sure that we keep you, the members of IBAO informed as to our progress. Moving forward, we may send out a ‘Call to Action’ to you, asking for your assistance if we feel it is necessary to do so.
In the meantime, Click Here to review a summary of IBAO’s submission to the CRTC on April 7.