(January 30 – 17:20 ET) – The Canadian Bankers Association was pleased to hear in today’s Speech from the Throne that the federal government plans to reintroduce financial services reform legislation in the new session of Parliament.

“We are pleased that the government will make financial services reform a priority,” said Ray Protti, president and CEO of the CBA. “Canada’s financial institutions need the flexibility and tools to compete and serve consumers’ needs in a world changing at Internet speed.”

Protti noted that the banks are facing growing competition from foreign and unregulated financial services providers, while they are also becoming increasingly active on the international scene. He also pointed out that technology continues to revolutionize the financial services business.

“In this fast-changing environment, we support the government’s commitment to financial services reform, and look forward to working with the government, MPs and Senators to see this legislation passed as soon as possible,” added Protti.
-IE Staff