Canada: Financial Services

The Reporter provides a monthly summary of Canadian federal legislative and regulatory developments of relevance to federally regulated financial institutions. It does not address Canadian provincial financial services legislative and regulatory developments. In addition, purely technical and administrative changes (such as changes to reporting forms) are not covered.

Ontario's proposed repeal of section 28 of the Financial Administration Act could significantly streamline infrastructure and public-private partnership projects by eliminating ministerial approval requirements...

Canada has been selected to host the headquarters of the new Defence, Security, and Resilience Bank, an intergovernmental institution that will provide long-term, low-cost financing for defence and security...

The 2026 Spring Economic Update and its related Bill C-30, tabled last week, include several initiatives relevant to the financial services sector, including new measures to support national investment, enhance competition, support housing, and reduce financial crime. They also include various other measures that may be of interest to financial service providers in banking, insurance and payments.

On April 28, 2026, Canada's government tabled the Spring Economic Update 2026, titled Canada Strong For All. Building on the themes introduced in Budget 2025, the Spring Economic Update signals continued progress...

The Canadian federal government has introduced Bill C-31, which proposes significant changes to the qualified investment rules for registered plans.

TMX Group Limited has entered into a definitive agreement to acquire Cboe Australia and Cboe Canada from Cboe Global Markets for US$300 million, a move that will consolidate Canadian equity trading platforms and unite leading mining and energy transition financing ecosystems. The transaction raises important questions about competition in Canadian capital markets and requires regulatory approval from securities regulators and the Competition Bureau.

In National Bank of Canada v. Sunterra Food Corporation (2026 ABKB 206), the Alberta Court of King’s Bench declined to extend CCAA stay protection to West Market Square Inc.

On April 16, 2026, FINTRAC published information on the new initiatives and updates it is implementing as a result of recent or upcoming legislative amendments to the Proceeds of Crime (Money Laundering) and Terrorist Financing Act and the Proceeds of Crime (Money Laundering) and Terrorist Financing Administrative Monetary Penalties Regulations.