(Toronto) Canada’s major banks and insurance companies say they have obtained a court order that will allow them to hold their annual meetings next year either in virtual mode only or in hybrid mode.
The order was announced in a joint press release from BMO, CIBC, Canadian Western Bank, Laurentian Bank, National Bank, Royal Bank, Scotiabank, TD Bank Group, Great-West Lifeco, Canada Life, Manulife and Sun Life.
It follows similar orders obtained by companies in March 2020 and December 2020.
Banks and insurance companies say they are not allowed to hold virtual annual meetings instead of an in-person meeting without a court order.
The institutions say they are considering ways to improve assemblies based on their experience from their 2020 and 2021 annual assemblies.
The specific terms of each meeting will be announced separately.