Budget 2018's Impact On The Canadian Financial Sector

On February 27, Parliament tabled the federal budget (Budget 2018),¹ which included measures aimed to strengthen stability in the financial sector, support innovation and competition in the financial sector and bolster consumer protection.²

What You Need To Know

Budget 2018 proposes a number of points pertinent to financial institutions, including to:

• introduce legislative amendments to implement targeted proposals from the most recent review of the Financial Sector Framework.³ The most significant change would provide greater flexibility for financial institutions to undertake and leverage broader fintech activities, although the extent of these changes will not be known until the relevant Budget Implementation Act is tabled;