Note: This is the first in a series of monthly articles intended
to parse the new federal financial consumer framework.
The financial crisis of 2008 ignited sweeping legislative and
regulatory reforms around the world, some of which continue to be
developed and implemented, both on the prudential and market
conduct fronts. Case on point – Canada.
While the intention to develop a comprehensive financial
consumer code can be traced as far back as the 2013 federal
budget, it wasn't until December 2018 that the federal
government successfully passed, after a previous unproductive
attempt (Bill c-29), a new financial consumer protection framework
(C-86). Its coming into force date, however, remains
unannounced.
