Insurance Business (Authorized Foreign Banks) Regulations — 6
6 (1) No authorized foreign bank shall (a) provide, directly or indirectly, an insurance company, agent or broker with any information respecting (i) a customer of the authorized foreign bank in Canada, (ii) an employee of a customer of the authorized foreign bank in Canada, (iii) where a customer of the authorized foreign bank is an entity with members in Canada, any such member, or (iv) where a customer of the authorized foreign bank is a partnership with partners in Canada, any such partner; (b) permit any of its subsidiaries to provide, directly or indirectly, an insurance company, agent or broker with any information that it receives from the authorized foreign bank respecting (i) a customer of the authorized foreign bank in Canada, (ii) an employee of a customer of the authorized foreign bank in Canada, (iii) where a customer of the authorized foreign bank is an entity with members in Canada, any such member, or (iv) where a customer of the authorized foreign bank is a partnership with partners in Canada, any such partner; (b.1) provide an affiliate of the authorized foreign bank that is not a subsidiary of the authorized foreign bank with information unless the authorized foreign bank ensures that the affiliate does not directly or indirectly provide the information to an insurance company, agent or broker if the information is in respect of (i) a customer of the authorized foreign bank in Canada, (ii) an employee of a customer of the authorized foreign bank in Canada, (iii) where a customer of the authorized foreign bank is an entity with members in Canada, any such member, (iv) where a customer of the authorized foreign bank is a partnership with partners in Canada, any such partner; or (c) permit a subsidiary of the authorized foreign bank that is a trust or loan corporation incorporated by or under an Act of the legislature of a province to provide, directly or indirectly, an insurance company, agent or broker with any information respecting (i) a customer of the subsidiary in Canada, (ii) an employee of a customer of the subsidiary in Canada, (iii) where a customer of the subsidiary is an entity with members in Canada, any such member, or (iv) where a customer of the subsidiary is a partnership with partners in Canada, any such partner. (2) Subsection (1) does not apply in respect of an authorized foreign bank or a subsidiary of an authorized foreign bank that is a trust or loan corporation incorporated by or under an Act of the legislature of a province where (a) the authorized foreign bank or the subsidiary has established procedures to ensure that the information referred to in that subsection will not be used by an insurance company, agent or broker to promote in Canada the insurance company, agent or broker or to promote in Canada an insurance policy, or a service in respect thereof; and (b) the insurance company, agent or broker, as the case may be, has given an undertaking to the authorized foreign bank or to the subsidiary, in a form acceptable to the Superintendent, that that information will not be used to promote in Canada the insurance company, agent or broker or to promote in Canada an insurance policy, or a service in respect thereof. SOR/2002-268, s. 3