Share on LinkedInShare on LinkedIn

ARTICLE · 29 APRIL 2019

2019 Federal Budget highlights on financial services

On March 19, 2019, the Federal Government (Government) released the 2019 budget plan (Budget), which includes proposed updates to Canada's financial services regulation.

CanadaFinance and Banking

On March 19, 2019, the Federal Government (Government) released the 2019 budget plan (Budget), which includes proposed updates to Canada's financial services regulation. These proposed updates, found under Annex 4 of the Budget, aim to promote innovation and enhance the overall integrity of the Canadian financial system. This summary discusses several key highlights of Annex 4.

Open banking

In 2018, the Government appointed an Advisory Committee on Open Banking, and announced that it would undertake a review of open banking in the Canadian context. In January 2019, the Government released a public consultation paper, followed by roundtable consultations, which are currently underway, to gauge the public's opinion regarding open banking.  The Committee is aiming to deliver a report to the Minister of Finance once the consultations are complete, with the ultimate goal of promoting open banking that properly addresses consumer privacy, security and financial

We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.

About Dentons

Dentons is the world's first polycentric global law firm. A top 20 firm on the Acritas 2015 Global Elite Brand Index, the Firm is committed to challenging the status quo in delivering consistent and uncompromising quality and value in new and inventive ways. Driven to provide clients a competitive edge, and connected to the communities where its clients want to do business, Dentons knows that understanding local cultures is crucial to successfully completing a deal, resolving a dispute or solving a business challenge. Now the world's largest law firm, Dentons' global team builds agile, tailored solutions to meet the local, national and global needs of private and public clients of any size in more than 125 locations serving 50-plus countries. www.dentons.com

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances. Specific Questions relating to this article should be addressed directly to the author.

See more popular content from