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ARTICLE · 23 SEPTEMBER 2025

Can Carney Deliver On Canada's Financial Services Modernization Agenda?

Gowling WLG
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As Canada approaches its first federal budget under Prime Minister Mark Carney, a central question looms: will this government continue the push toward financial services transformation...

CanadaFinance and Banking
Parna Sabet-Stephenson
Parna Sabet-Stephenson
Alana Scotchmer
Alana Scotchmer
Adam Garetson
Adam Garetson
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As Canada approaches its first federal budget under Prime Minister Mark Carney, a central question looms: will this government continue the push toward financial services transformation where the previous Parliament left off—or chart a different course?

With the federal budget now slated for November 4, expectations are mounting among industry watchers that long-discussed reforms in open banking, digital assets, AML, and privacy could now move closer to the finish line. For businesses across financial services and fintech, the budget will signal not only priorities for the year ahead, but also the pace and direction of Canada's evolving regulatory landscape.

Below are five things we'll be watching closely in November.

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