Canadian government plans rules letting banks take bigger fintech stakes
Updated
Updated · Bloomberg · May 1
Canadian government plans rules letting banks take bigger fintech stakes
13 articles · Updated · Bloomberg · May 1
The budget revives 2018 Bank Act changes, with consultations before rules are finalised, and follows this week's launch of a C$25 billion sovereign wealth fund.
The measures would let federally regulated banks, insurers and trust companies invest more freely in businesses such as digital identity, health tech and AI without case-by-case approvals.
Ottawa says foreign banks' non-financial investments would face national security reviews, addressing concerns some Canada-based affiliates have links to foreign governments, including China.
Will Canada's new financial reforms and AI investments truly shift the global balance of innovation, or will regulatory hurdles slow real progress?
How will the expanded Indigenous loan guarantees and legal changes reshape power dynamics in Canada's resource sector and project development?