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ARTICLE · 10 DECEMBER 2025

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From AML To AI: Regulatory Developments In The Financial Services Landscape

Osler, Hoskin & Harcourt LLP
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2026 will see increased compliance and enforcement in Canada's financial services, focusing on anti-money laundering measures and new regulations.

CanadaFinance and Banking
Victoria Graham
Victoria Graham
Elizabeth Sale
Elizabeth Sale
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Key takeways

  • 2026 will see increased compliance and enforcement in Canada's financial services, focusing on anti-money laundering measures and new regulations.
  • OSFI plans a more aggressive AMP approach, while payment service providers must ensure compliance with the Retail Payment Activities Act.
  • Enhanced focus on AI governance will require financial institutions to overhaul their models to meet new OSFI guidelines.

2026 is poised to be a pivotal year for compliance and enforcement in the Canadian financial services industry. From enhanced anti-money laundering (AML) measures and administrative monetary penalties (AMPs) to payment services regulation under the Retail Payment Activities Act (RPAA) and artificial intelligence governance, financial institutions and payment service providers (PSPs) will face heightened expectations and evolving regulatory frameworks that demand proactive adaptation and robust risk management.

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