Canadian Competition Bureau Releases Fintech Report for Consultation

On November 6, 2017, the Competition Bureau (Bureau) released a draft report on its market study into technology-led innovation in the Canadian financial services (Fintech) sector.[1] The Bureau has invited feedback from interested parties only until November 20, 2017, an uncharacteristically short comment period.

Financial services are an area of interest for the Bureau due to their significance to the Canadian economy and Canadian employment as well as the critical role they play in the daily lives of Canadians. While offering a variety of products and services across many financial service segments, Fintechs are typically internet-based and application-oriented, promising user-friendly, efficient consumer interfaces.