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Critics say more measures needed to protect consumers in financial services sector
The Task Force on Financial Literacy’s recent policy recommendations are receiving enthusiastic support from the federal government and the financial services sector, but critics are skeptical that public education alone is enough to significantly improve consumer protection. The Task Force, established by the Department of Finance in 2009, consulted with stakeholders across the country on […]
London Stock Exchange’s potential takeover of TMX raises issue of ‘net benefit’
The potential merger of the Toronto Stock Exchange and the London Stock Exchange has raised the issue of “net benefit” for Canadians when it comes to foreign takeovers or mergers and acquisitions again, and it needs to be clearly defined, say experts. “Clarity is required because right now Canada needs foreign investment. Canadian investors are […]
Bank Act review, federal securities regulation key issues for Finance Department in coming months
Legislative and regulatory reform in the financial services sector will be high on the Department of Finance’s agenda in the second half of 2011, and a major challenge will be to balance stakeholder interests while improving on Canada’s world-renowned financial stability. The Bank Act is due for review by the Department of Finance this year […]
Canadian Bankers Association supports government’s move towards a single securities regulator
What are your specific concerns with the Bank of Canada Act review? And what do you want to see in this review, specifically? “Since the beginning of the global financial crisis, the Government of Canada made a number of changes to the financial regulatory framework in Canada. However, the system required relatively few major revisions, […]
Stakeholders give thumbs up to voluntary code of conduct for credit, debit card industry
A year after the federal government introduced a voluntary code of conduct for the credit and debit card industry, stakeholders say it was a positive move. “Some of the things in the code of conduct were frankly things we were already doing and with some other things, we ended up having to adjust but, overall, […]
What entrepreneurs need: a VC industry that works
If we want our entrepreneurs to create more globally successful tech firms, we must improve our venture capital industry. Because it isn’t operating as it should, they face too many hurdles in getting the financing they need. We at the BDC are confident the industry can be made to operate as it should and, indeed, […]
Federal biotech regulation challenged by rapid innovation in life sciences
While the federal government maintains strong oversight over consumer products developed by the life sciences sector, industry leaders say the rapid advancement of biotechnological innovation requires reforms in the approval process and regulatory harmonization with foreign markets. Canada’s life sciences sector encompasses an array of sub-sectors that apply branches of chemistry, biology and engineering in […]
