Scotiabank announces it is suspending its sponsorship of Hockey Canada.
The long-time sponsor says the hiatus will last until the bank is satisfied the right steps are being taken to improve the culture within the sport.
The development comes after the federal government froze public funding for the national sports organization last week in response to its handling of an alleged sexual assault and out-of-court settlement.
In an open letter, Scotiabank President and CEO Brian J. Porter also said that marketing and events scheduled for the World Junior Championships in August will be canceled and investment will be redirected to d other programs.
Hockey Canada quietly settled a lawsuit last month after a woman claimed she was assaulted by members of the 2018 gold medal-winning World Junior Hockey team at a gala and golf event there. four years ago in London, Ontario.
None of the allegations have been proven in court.
Hockey Canada executives were challenged by lawmakers on Parliament Hill last week during a meeting of the Standing Committee on Canadian Heritage.
WATCH | Hockey Canada denies that public funds were used to settle a sexual assault allegation: