Scotiabank says it is pausing its sponsorship of Hockey Canada.
The longtime sponsor says the pause will last until the bank is confident the right steps are taken to improve the culture within the sport.
The development comes after the federal government froze public funding to the national sport 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 says planned marketing and events at the world juniors in August will be cancelled and the investment will be redirected into other programs.
Hockey Canada quietly settled a lawsuit last month after a woman claimed she was assaulted by members of the country’s 2018 gold-medal winning world junior hockey team at a gala and golf function four years ago in London, Ont.
None of the allegations have been proven in court.
Hockey Canada executives were grilled by legislators on Parliament Hill last week during a Standing Committee on Canadian Heritage meeting.
WATCH | Hockey Canada denies public funds used for sex assault allegation settlement: