Confirmed. ING sold all of its ownership stake in ING Canada (which offered insurance in Canada and is now an independent Canadian company) while ING Direct Canada will continue to operate as part of the global ING Group with a head office presence to satisfy (as it has been doing) regulatory requirements. The following is from the ING Direct FAQs section...
What is the difference between ING and ING DIRECT?
ING DIRECT is a Canadian bank that is regulated the same as other Canadian banks. We are owned by ING Group; one of the world’s largest financial services companies, headquartered in Europe. We operate on a stand alone basis in Canada. This means that our people are located in Canada, your money stays in Canada, we are regulated in Canada and follow the same rules as all of the other Canadian banks.
Up until recently, ING Group also owned ING Canada, the insurance company. As planned, ING Group sold its shares in ING Canada so it can focus its attention on savings and investments. The sale of ING Canada had no impact on ING DIRECT as the companies were completely separate entities, with separate employees.