CFFiM - Canadian Forum For Financial Markets

The Bank of Canada has highlighted research indicating that concentration in Canada’s banking sector—where the six largest banks hold roughly 93% of banking assets—can weigh on productivity. The Competition Bureau has called for “new players to shake things up” in banking.

In its pre-budget submission to the House of Commons Finance Committee, the Canadian Forum for Financial Markets recommended that the federal government:

- Conduct a public review of banking regulations to eliminate outdated or duplicative requirements, reducing regulatory costs and supporting innovation and competition without compromising financial stability.
- Amend the Bank Act and legislative mandates of key federal financial oversight bodies—including OSFI, FCAC, and the Competition Bureau—to explicitly include competition as a core statutory objective.
- Designate a Technical Standards Body by Q3, 2026, similar to the U.K’s Open Banking Implementation Entity, to accelerate open banking. This independent body would develop and maintain national API and data standards, oversee conformance and certification, publish a delivery roadmap, coordinate industry implementation, and advance toward payments initiation.

Together, these recommendations aim to foster a more competitive, innovative, and efficient financial sector—one that delivers lower prices, better service, and greater choice for Canadian consumers and businesses.

🎙️Podcast: Breaking Up Should Not Be Hard to Do: The Value of Corporate Spinoffs https://cffim-fcmfi.ca/podcast/breaking-up-should-not-be-hard-to-do-the-value-of-corporate-spinoffs/

Corporate spin-offs—known in Canada as “butterflies”—are a powerful corporate restructuring mechanism.

By creating independent businesses with focused management teams, spin-offs can enhance competition, operational efficiency, and strategic agility.

Freed from the constraints of a large, diversified parent company, spun-off entities can often adapt more quickly to changing market conditions and customer demands.

Spin-offs also improve valuation transparency by allowing investors to assess each business on its own merits, increasing pressure on management to improve performance, pricing, and innovation.

They can also attract investors seeking exposure to specific market niches or industries, potentially broadening access to capital for both the parent company and the newly independent entity.

In this episode we explain in practical terms how spin-offs work in Canada and the U.S., why they matter for competition and capital markets, and what policy and tax design can do to ensure that breaking up isn’t hard to do.

Breaking Up Should Not Be Hard to Do: The Value of Corporate Spinoffs — CFFiM | FCMFi Corporate spin-offs—known in Canada as “butterflies”—are a powerful corporate restructuring mechanism. By creating independent businesses with focused

Wealth Professional Canada: The Canadian Forum for Financial Markets (CFFiM) filed an 18-point pre-budget submission with the House of Commons Finance Committee on May 22, calling for cuts to corporate and personal income taxes, a banking sector shakeup, and long-overdue reforms to retirement savings rules.

https://www.wealthprofessional.ca/news/industry-news/canada-has-lost-its-corporate-tax-edge-over-the-us-finance-group-warns/392565

Canada has lost its corporate tax edge over the US, finance group warns Finance group urges tax cuts, banking overhaul ahead of federal budget