Advocis today congratulated Stéphan Dion on winning the leadership of the Liberal Party of Canada this past Saturday.

“On behalf of our members and their clients, Advocis offers its sincere congratulations to Stéphane Dion,” said Roger McMillan, Advocis chairman, in a news release.. “We look forward to working with him and his caucus toward the betterment of the consumer interest within the financial services industry.”

Advocis notes Dion’s position on the issue of the banks’ ability to market and distribute life and health insurance in their branches.

During the Liberal leadership campaign, Advocis asked each of the candidates:

“Canada’s banks are lobbying to remove restrictions on their ability to market life and health insurance products through their branches. Parliament has supported limiting the power of banks to distribute these products through their branches, primarily to address consumer protection concerns around tied selling and privacy, and also to ensure a competitive and equitable marketplace. Do you favour continuing these restrictions?”

Dion replied that the, “restrictions should remain in place.”

Advocis is pleased to announce that, with Dion’s commitment, it has secured on-the-record support from all three federalist parties in the House of Commons on this important issue.

Legislation preserving the existing framework restricting bank marketing and distribution of life and health insurance in their branches was tabled in the House of Commons last week and Advocis urges Dion, and all Members of Parliament, to ensure its passage.