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ARTICLE · 11 APRIL 2022

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Budget 2022: Financial Institutions Update

McCarthy Tétrault
McCarthy Tétrault
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The 2022 federal budget (the "Budget") includes a number of measures directed to the financial services sector, including measures in respect of anti-money laundering ("AML")...

CanadaGovernment, Public Sector
TechLex Blog
TechLex Blog
Ana Badour
Ana Badour
Sonia Struthers
Sonia Struthers
Nancy J Carroll
Nancy J Carroll
Hartley Lefton
Hartley Lefton
Lucie Tedesco
Lucie Tedesco
Shauvik Shah
Shauvik Shah
Daanish Pasricha
Daanish Pasricha
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The 2022 federal budget (the "Budget") includes a number of measures directed to the financial services sector, including measures in respect of anti-money laundering ("AML"), complaints handling, interchange fees, and climate related disclosures, as well as a number of other anticipated changes to financial sector legislation. Of relevance to participants in the insurance industry, the Budget also proposes a new income-based dental care program and a national pharmacare program.

Please also refer to our tax group's separate update on the Budget for a discussion of tax measures affecting financial institutions.

Anti-Money Laundering Measures

The federal government has proposed several measures in connection with Canada's AML regime:

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