Canada’s New Government Tables Legislation…

The Honourable Jim Flaherty, Minister of Finance, today tabled legislation to ensure Canada continues to be a world leader in financial services. “This legislation will help modernize our regulations, cut red tape and advance the interests of consumers,” said Minister Flaherty. The Government of Canada regularly reviews the statutes that govern federally regulated financial institutions, including domestic and foreign banks, trust companies, insurance companies and cooperative credit associations. To give Parliament enough time to consider this legislation, the sunset date for the financial institutions statutes was extended by six months to April 24, 2007.

“This legislation will help modernize our regulations, cut red tape and advance the interests of consumers,” said Minister Flaherty. The Government of Canada regularly reviews the statutes that govern federally regulated financial institutions, including domestic and foreign banks, trust companies, insurance companies and cooperative credit associations. To give Parliament enough time to consider this legislation, the sunset date for the financial institutions statutes was extended by six months to April 24, 2007.

The Government of Canada regularly reviews the statutes that govern federally regulated financial institutions, including domestic and foreign banks, trust companies, insurance companies and cooperative credit associations. To give Parliament enough time to consider this legislation, the sunset date for the financial institutions statutes was extended by six months to April 24, 2007.