TORONTO, June 19 /CNW/ - On a separate matter unrelated to prior
announcements made today by Manulife Financial Corporation, the Company stated
that it received an enforcement notice from staff of the Ontario Securities
Commission (OSC) this week relating to its disclosure before March 2009 of
risks related to its variable annuity guarantee and segregated funds business.
The OSC notice indicates that it is the preliminary conclusion of OSC staff
that the Company failed to meet its continuous disclosure obligations related
to its exposure to market price risk in its segregated funds and variable
annuity guaranteed products. The Company has the opportunity to respond to the
notice before OSC staff makes a decision whether to commence proceedings, and
the Company intends to cooperate with OSC staff. The Company believes that its
disclosure satisfied applicable disclosure requirements.
About Manulife Financial
Manulife Financial is a leading Canadian-based financial services group
serving millions of customers in 19 countries and territories worldwide.
Operating as Manulife Financial in Canada and Asia, and primarily through John
Hancock in the United States, the Company offers clients a diverse range of
financial protection products and wealth management services through its
extensive network of employees, agents and distribution partners. Funds under
management by Manulife Financial and its subsidiaries were Cdn$405 billion
(US$322 billion) as at March 31, 2009.
Manulife Financial Corporation trades as 'MFC' on the TSX, NYSE and PSE,
and under '945' on the SEHK. Manulife Financial can be found on the Internet
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