Department of Finance Canada Launches Second Stage of Consultations on Federal Financial Sector Framework  

August 11, 2017 – Ottawa, Ontario – Department of Finance Canada

The Government of Canada is committed to supporting a well-functioning financial services sector that will grow the economy, strengthen the middle class and create good, well-paying jobs.

Today, the Department of Finance Canada launched the second stage of consultations on the renewal of the federal financial sector legislative and regulatory framework prior to the statutory sunset date of March 29, 2019.

Recognizing that the foundational elements of the current framework are sound, the Department is seeking views on potential policy measures to support a competitive and innovative sector, to modernize the legislative framework, and to safeguard a stable and resilient sector.

The second consultation paper, released today, takes into account the comments and recommendations received from stakeholders through the first stage of consultations, the trends and emerging issues that are actively reshaping the sector, as well as the needs of its users. It builds on the consultation paper released on August 26, 2016, which laid out the landscape of Canada's financial sector and identified key trends that may influence it moving forward.

Interested individuals or organizations are invited to review the consultation document at the link below. Submissions should be submitted by September 29, 2017. The Department of Finance may share these submissions with federal financial sector regulatory agencies to facilitate their review.