Fintech caught in grey zone, stakeholders say, as feds study Bank Act

The Canadian financial technology sector lags behind its peers, says an Ernst & Young report, and observers want banking regulations to come into the digital age.

Finance Minister Bill Morneau holds a closing press conference after meeting with provincial and territorial finance ministers in December. Finance Canada is currently looking at overhauling the financial regulatory framework to include the financial technology sector, known as 'fintech.' The Hill Times photograph by Andrew Meade

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BY EMILY HAWS

February 14, 2018

As Finance Canada is in the midst of its review of the Bank Act, observers are saying the rules need to better accommodate the emerging financial technology sector—known as “fintech”—and bring banking regulations into the digital age so that Canada can catch u...

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