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ARTICLE · 15 DECEMBER 2020

Financial Advertising – A FinCoNet Focus

McCarthy Tétrault
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Financial advertising in Canada is primarily regulated by the federal, provincial and territorial governments, which have enacted advertising laws of general and more specific application.

CanadaMedia, Telecoms, IT, Entertainment
Lucie Tedesco
Lucie Tedesco
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Financial advertising in Canada is primarily regulated by the federal, provincial and territorial governments, which have enacted advertising laws of general and more specific application.

The Competition Act is the main federal advertising law of general application, while some of the provisions of the  Credit Business Practices Regulations and the  Cost of Borrowing (Banks) Regulations under the Bank Act1 govern the sector-specific advertising of financial products and services. Financial advertising in the provinces and territories is typically governed by their respective consumer protection legislation.

In addition to federal, provincial and territorial legislation, financial advertising is also governed by codes of conduct. Ad Standards - Canada, a self-regulatory organization, oversees the Canadian Code of Advertising Standards, which is an advertising code of general application, while the Financial Consumer Agency of Canada (FCAC) is responsible for

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