Driven by the dramatic causes and consequences of the worldwide recession, the role of all financial intermediaries, whether regulated or not, has become a principal focus of governments and legislative bodies around the world.
Even though Canada benefits from a well regulated financial sector, virtually every aspect of every statute, policy and regulation governing the sector is being reexamined. At the heart of the issue, domestically and internationally, is the risk profile of the allowed level of leverage and supply of credit on the one hand, and the capital adequacy of lending institutions and intermediaries on the other.
Closely connected in Canada is the complex set of issues around the adequacy and sustainability of the retirement incomes to be generated by our mixed public/private system.
Not surprisingly, the public policy agenda for the financial sector is also contending with other critically important issues, including:
- Capital adequacy standards
- Level of transparency of risk in complex financial instruments
- Transparency in respect of currently unregulated financial intermediaries
- Credit supply standards
- Consumer protection information/protection standards
- Pre-conditions for Bank mergers
- Sale of insurance products by banks
- National securities regulation
- Ongoing corporate governance reform
- Comprehensive review of Canada’s retirement income system
Global’s Financial Services team has direct experience with the sector and has planned and executed campaigns that have resulted in a balanced regulatory environment that preserved valuable business prerogatives and markets for private sector clients while respecting public policy imperatives.
Financial Services Team
Genevieve Young – Team Leader