Canada, Competition and Fintech: A Review

Author: Mark C. Katz

On May 19, 2016, Canada’s Competition Bureau (Bureau) announced that it is launching a “market study” into technology-led innovation in the Canadian financial services sector, also referred to as “fintech.” The Bureau’s study will focus on how innovation is affecting the way consumers and businesses use financial products and services; barriers to entry faced by fintech companies; and whether there is a need for regulatory reform to promote greater competition while maintaining consumer confidence in the sector. The ultimate objective of the study is to help the Bureau advise and guide financial sector regulators and other relevant authorities on how to ensure that regulation does not unnecessarily impede innovation and competition in the sector. The Bureau intends to conduct its information-gathering and analysis over the course of the balance of 2016 and to publish its report in the Spring of 2017.

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Oct. 23, 2020 - The Competition Act provides the Commissioner of Competition with a number of powerful investigative tools in respect of both criminal and civil matters, including the power to obtain and execute search warrants that allow Competition Bureau officers to enter premises and to seize...