Bank Act

Marginal note:Regulations

627.998 The Governor in Council may make regulations respecting any matters involving an institution’s dealings, or the dealings of its employees, representatives, agents or other intermediaries, with customers or the public, any matters involving products or services that are the subject of those dealings and any matters involving an institution that is acting in the capacity of a representative, agent or other intermediary for another entity, including regulations

• (a) requiring the disclosure of information;

• (b) respecting the training of an institution’s employees, representatives, agents or other intermediaries;

• (c) respecting the content of advertisements and the manner in which it is displayed or communicated;

• (d) respecting the rebate or refund of any amounts paid or to be paid in relation to the provision of a product or service;

• (e) prescribing what an institution may, shall or shall not do — including in relation to the imposition of charges or penalties — in carrying out any of the activities that it is permitted to carry out, or in providing any of the services that it is permitted to provide, under section 409 or 538 and any ancillary, related or incidental activities or services;

• (f) respecting the names of positions to be used by an institution’s employees, representatives, agents or other intermediaries in their dealings with customers or the public;

• (g) prescribing the time at which and the manner in which any of the activities referred to in paragraph (e) are to be carried out or any of the services referred to in that paragraph are to be provided;

• (h) prescribing when documents and information that are required to be disclosed, sent or otherwise provided under this Part are deemed to have been provided;

• (i) prescribing the manner in which any information that is required to be filed, disclosed, made available or otherwise provided under this Part is to be organized or broken down;

• (j) prescribing the time at which and the manner in which any information that is required to be filed, disclosed, made available or otherwise provided under this Part is to be filed, disclosed, made available or otherwise provided;

• (k) prescribing the circumstances in which all or part of sections 627.08, 627.17, 627.28, 627.3, 627.31, 627.59, 627.72, 627.89, 627.99, 627.992 and 627.993 do not apply;

• (l) specifying conduct that shall be considered or shall not be considered coercion for the purpose of paragraph 627.04(a);

• (m) requiring a member bank, at any point of service or any branch in Canada at which it opens retail deposit accounts through natural persons, to open, at the request of a natural person who meets the prescribed conditions, a low-cost or no-cost retail deposit account for the person, and prescribing the characteristics of such an account, including the name of the account;

• (n) respecting the collection, retention, use or disclosure of information about a customer and the manner in which complaints by the customer in relation to that collection, retention, use or disclosure are to be dealt with; and

• (o) respecting the requirements to be met by the external complaints body.

• (p) [Repealed, 2023, c. 26, s. 133]