Second Stage of Consultations on Federal Financial Sector Framework – August 14, 2017

Second Stage of Consultations on Federal Financial Sector Framework

August 14, 2017

OTTAWA: Jim Eglinski, Member of Parliament for Yellowhead, is pleased to inform residents that the Department of Finance has launched the second stage of consultations on proposed changes to the federal financial sector legislative and regulatory framework.

The Department is seeking views on potential policy measures that aim to safeguard the financial sector, to keep it competitive and innovative, and to modernize its legislative framework. “I have already heard from constituents with concerns about the impact that some of the proposed changes could have on their small businesses,” stated MP Eglinski.

Last August, the Department released the first consultation paper on the proposed changes, which laid out the landscape of Canada’s financial sector and identified key trends that may influence it moving forward. The second consultation paper, released last week, takes into account the comments and recommendations received from stakeholders through the first stage of consultations, as well as the trends and emerging issues that are reshaping the sector.

Interested individuals or organizations are invited to review the consultation paper and make submissions to the Department of Finance by September 29, 2017. The paper, as well as information on submissions, can be found on the Department’s website at: http://www.fin.gc.ca/activty/consult/pssge-psefc-eng.asp.

“I encourage everyone who will be impacted by the changes to participate in the consultation to ensure their concerns are made known to the Department,” concluded MP Eglinski.

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