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Canadian Watchdog Growls At Manulife

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Canadian regulators have told Manulife Financial Corp. it may have failed to adequately disclose to investors the potential risks of some of its annuities.

Manulife, Toronto, says that it received an enforcement notice from the Ontario Securities Commission suggesting it may not have adequately divulged the financial risks of variable annuity guarantee and segregated funds products it sold before March 2009.

Manulife states that it believes it has fulfilled all relevant disclosure requirements for the products and that it intends to cooperate with OSC staff.

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