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ARTICLE · 02 JUNE 2016

Competition Bureau To Study Financial Technology Market Impact

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The rise of financial technology ("FinTech") is revolutionizing the way consumers and businesses make investments, raise equity, borrow money and effect payments.

CanadaAntitrust/Competition Law
Pat Forgione
Pat Forgione
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The rise of financial technology ("FinTech") is revolutionizing the way consumers and businesses make investments, raise equity, borrow money and effect payments. The effects of FinTech are far-reaching, and regulators are taking notice. On May 19, the Competition Bureau (the "Bureau") announced plans to launch a market study on technology-led innovation in the Canadian financial services industry. (For the Bureau's notice, click here.)

The Bureau will assess how consumer and business interactions with financial products and services are shaped by innovative technologies such as mobile payments, online crowdfunding, peer-to-peer banking and robo-advisors. The study will focus on the competitive impact of new technologies and potential barriers facing entrants in the industry with the aim of highlighting areas for regulatory reform to promote financial innovation while maintaining consumer protection.

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