A bill aimed at deterring unwanted e-mails from spammers or fraudsters is raising concern in the financial services industry.
In April the federal government introduced Bill C-27, the Electronic Commerce Protection Act (ECPA), which is designed to create an electronic communications framework to protect Canadian consumers from spam or fraudulent e-mails.
In August the Investment Funds Institute of Canada (IFIC) submitted an official response to the federal government's proposed Do Not Email Legislation. "While the proposed legislation would control spam and fraudulent email, an unintended consequence may be the banning of legitimate email communications where prior consent has not been obtained," says Jon Cockerline, IFIC's Director of Policy-Dealer Issues.
While IFIC supports the general intent of the section of the proposed legislation that concerns unsolicited commercial emails, the association believes this section requires changes in the drafting "to balance the need to protect individuals and businesses from unwanted emails with the need for legitimate businesses to be able to provide responsible communication about products and services to their markets, including their clients."