Le 16 avril 2024, la vice-première ministre et ministre des Finances du Canada, Chrystia Freeland, a dévoilé le budget fédéral de 2024 (le « Budget 2024 »). Intitulé « Une chance équitable pour chaque génération », le Budget...more
On April 16, 2024, Canada’s Deputy Prime Minister and Finance Minister Chrystia Freeland unveiled Budget 2024 (Budget). The Budget, titled “Fairness for every generation,” sets out the federal government’s policy initiatives...more
INTRODUCTION - Comme la plupart des Canadiens le savent, le gouvernement fédéral a publié son budget de 2021, intitulé Budget 2021 : Une relance axée sur l’emploi, la croissance et la résilience (le « Budget ») le 19 avril...more
INTRODUCTION - As most Canadians are aware, the federal government released its 2021 budget - Budget 2021: A Recovery Plan for Jobs, Growth and Resilience on April 19, 2021 (Budget). This bulletin will summarize the...more
L’année 2020 a été dominée par un seul événement mondial : la pandémie de COVID-19. La législation et les lignes directrices en matière de réglementation qui s’appliquent aux institutions financières fédérales (les « IFF »)...more
2020 was dominated by a single global event: the COVID-19 pandemic. Regulatory guidance and legislation affecting federally regulated financial institutions (FRFIs) in Canada were no exception. Governments and regulators...more
Key changes marking a significant shift in the Financial Consumer Agency of Canada’s (FCAC) enforcement powers and mandate came into force on April 30, 2020. Financial institutions will need to recalibrate their reputation...more
On October 29, 2018, the federal government introduced Bill C-86, Budget Implementation Act, 2018, No. 2 (Bill C-86), the second omnibus budget bill of 2018. If passed, Bill C-86 will, among other things, amend the Bank Act...more
The Financial Consumer Agency of Canada (FCAC) recently published the final version of its Supervision Framework (2018 Framework), which took effect October 1, 2018. The 2018 Framework outlines the principles and processes...more
Building on the federal government’s continued commitment to modernize and enhance Canada’s financial consumer protection framework (Framework), the Financial Consumer Agency of Canada (FCAC) has released its Report on Best...more
2017 marked another year of prodigious development of legislation and regulatory guidance impacting federal financial institutions in Canada. The new wave of initiatives in 2017 included the second stage of the...more
On May 15, 2017, the Financial Consumer Agency of Canada (FCAC) published Commissioner’s Decision #126 (Decision) regarding non-compliance with the Code of Conduct for the Credit and Debit Card Industry in Canada (Code of...more
The Financial Consumer Agency of Canada (FCAC) recently published its new Supervision Framework, following extensive consultation with stakeholders. The Supervision Framework will come into effect November 1, 2017. It updates...more
Moves Towards Regulatory Modernization - The rapidly evolving nature of banking — and the financial services sector in general — has seen Canada’s Department of Finance make several moves towards modernization. What will...more
The regulation of federally regulated financial institutions (FRFIs) continued intensifying in 2016 with a new wave of legislative and regulatory initiatives impacting mortgage lending, the bank resolution regime, the life...more
The Financial Consumer Agency of Canada (FCAC) recently published the following two documents for comment: Proposed Supervision Framework and Publishing Principles for FCAC Decisions (Consultation). The consultation period...more
On July 29, 2016, the Financial Consumer Agency of Canada (FCAC) published the following guidance documents on its website: - Amended Commissioner’s Guidance 10 (CG-10) – Increased Disclosure in Sales and Business...more
Financial institutions in Canada witnessed yet another year of significant growth in legislation and regulatory guidance impacting their operations, while the financial marketplace is continuing to adapt to the impact of...more
2014 was a year replete with new legislative and regulatory initiatives impacting federally regulated financial institutions. The key initiatives introduced or implemented in 2014 are outlined in our annual year in review....more
On May 1, 2014, Canada’s Prepaid Payment Products Regulations came into force. The new regulations apply to all prepaid payment products and promotional products, whether physical or electronic, issued in Canada by federally...more