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ARTICLE · 01 DECEMBER 2023

Federal Fall Economic Statement 2023: Measures Relating To The Financial Services Sector

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On November 21, 2023, the federal government (the Government) released its 2023 Fall Economic Statement (the Statement). The Statement included several measures relating to the financial services sector.

CanadaFinance and Banking
Brigitte Goulard
Brigitte Goulard
Peter Aziz
Peter Aziz
Marissa Daniels
Marissa Daniels
Molly Reynolds
Molly Reynolds
Robin Asgari
Robin Asgari
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On November 21, 2023, the federal government (the Government) released its 2023 Fall Economic Statement (the Statement). The Statement included several measures relating to the financial services sector. These measures can be categorized as follows: 1) measures fostering competition, 2) consumer-focused measures, and 3) measures to protect the safety and integrity of Canada's financial system.

What you need to know

  • In the 2024 federal budget, the Government intends to introduce changes to:
    • provide for the establishment of a consumer-driven banking (open banking) framework by creating legislation to address the following core elements: governance, scope, accreditation, common rules and technical standards;

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