Once a month, we partner up with LobbyIQ to update our readers on recent movements in the federal lobbying landscape in Ottawa. We provide separate coverage for each channel, defined by the most relevant industries, organizations, institutions, and subject matters.

Key Takeaways — Finance

• Lobbying activity totalled 198 meetings in March 2026, up from a 12-month average of 155.7.
• The biggest moves were in Banking and Financial investments.
• Manulife Financial Corporation, Meadow Lake Tribal Council Industrial Investments were more active than usual.

Section A: The Themes Hidden in March 2026 Data

Regulatory Changes Boost Banking Lobbying

March 2026 saw a substantial uptick in lobbying from Canadian banks and industry groups, including the Canadian Bankers Association, Bank of Montreal, and CANADA'S VENTURE CAPITAL AND PRIVATE EQUITY ASSOCIATION, coinciding with Spring Economic Update proposals to expand investment powers and revise Bank Act oversight rules. These changes are designed to modernize the sector while enhancing competitiveness and national security, as reflected in discussions with Finance Canada (FIN) and Innovation, Science and Economic Development Canada (ISED). Increased engagement reflects industry responses to regulatory realignments and anticipated impacts.

📎 2026 Spring Economic Update: Key Impacts on Canada’s Financial Sector

Sovereign Wealth Fund Launch Spurs Investment Industry Advocacy

The introduction of the Canada Strong Fund in the Spring Update triggered a surge in lobbying activity from financial investment firms and advocates such as the National Angel Capital Organization and CANADA'S VENTURE CAPITAL AND PRIVATE EQUITY ASSOCIATION in meetings with Finance Canada and Innovation, Science and Economic Development Canada. With $25 billion earmarked for strategic national projects, organizations responded with policy dialogues promoting capital markets growth and supporting broader economic development. The timing of lobbying meetings aligns closely with these government initiatives.

📎 Carney announces creation of Canada's first national sovereign wealth fund

Anti-Money Laundering Reforms Draw Industry Attention

Industry meetings on compliance and financial crime prevention rose as Canadian Bankers Association, Royal Bank of Canada, and CANADIAN IMPERIAL BANK OF COMMERCE (CIBC) met with Finance Canada to discuss enhanced powers for the Minister under the Proceeds of Crime Act, including stronger FINTRAC oversight. This heightened sector engagement, reflected in discussions with FINTRAC and Finance Canada, aligns with new proposals for improved enforcement and regulatory directives in the 2026 update. The regulatory focus comes amid security and international competition concerns.

📎 2026 Spring Economic Update: Key Impacts on Canada’s Financial Sector

Tax and Retirement Security Measures Fuel Targeted Lobbying

Lobbying activity centered on retirement security and tax policy intensified, with organizations such as Manulife Financial Corporation, Fidelity Investments Canada ULC, and CANADA'S VENTURE CAPITAL AND PRIVATE EQUITY ASSOCIATION engaging closely with Finance Canada, coinciding with federal moves to recalibrate tax regimes and strengthen retirement provisions. Meetings addressing flow-through shares, including PearTree Financial Services Ltd. with the House of Commons, global minimum tax, and expanded investment vehicles are closely timed with government efforts to promote fairness and competitiveness in tax policy. This sector response mirrors ongoing legislative deliberations.

📎 Canada’s spring economic update 2026 | PwC Canada

Digital Assets Consultation Keeps Lobbying Active

The passage of the Stablecoin Act and related digital finance regulation has kept organizations such as the Canadian Bankers Association, Scotiabank, and Bank of Montreal engaged in consultations with Finance Canada, especially as federally regulated institutions are excluded but drawn into policy dialogue. Meeting records suggest ongoing discussions around artificial intelligence and data regulation, coinciding with government efforts to clarify rules around digital assets.

📎 2026 Spring Economic Update: Key Impacts on Canada’s Financial Sector

Section B: Lobbying Activity by Industry

This section compares, by NAICS industry, the lobbying activity in Ottawa last month to its historical average.

Lobbying activity across this channel totalled 198 meetings in March 2026, up from a 12-month average of 156. The most active industry was Banking, while Financial investments rose above its recent baseline.

The industries with the most notable increases in lobbying this month include Financial investments logged 47 meetings, up from an average of 35, Insurance logged 39 meetings, up from an average of 27, Banking logged 67 meetings, up from an average of 52, and Financial transactions processing and credit cards logged 24 meetings, up from an average of 19.

On the quieter side, Consumer lending and sales financing had no lobbying meetings this month, down from an average of 0, and Digital asset services had 2 meetings, down from an average of 4.

Section C: Lobbying by Industry for the Past Year

To contextualize, we show each industry's lobbying activity over the past 12 months. The combined view from Section B and C shows you whether recent differences are persistent trends or a break from the norm.

Top Industry Residual Trends for 2026-03

Banking saw lobbying run notably above expected levels in March 2026.

↳ Banking has been on a broadly upward trajectory in lobbying over the past year.

↳ Banking displayed high volatility, suggesting irregular or event-driven engagement.

↳ Financial investments has been on a broadly upward trajectory in lobbying over the past year.

↳ Financial investments displayed high volatility, suggesting irregular or event-driven engagement.

↳ Mortgage and loan brokers has been trending downward in lobbying over the past year.

↳ Insurance has been on a broadly upward trajectory in lobbying over the past year.

↳ Insurance displayed high volatility, suggesting irregular or event-driven engagement.

Section D: Lobbying Activity by Organization

In this section, we see the organizations with the most unusual lobbying behavior last month, defined by either unusually high or unusually low lobbying activity.

The organizations with the most notable increases in lobbying this month include Manulife Financial Corporation, Meadow Lake Tribal Council Industrial Investments, Financial Data Exchange, Inc., Canadian Bankers Association, and MasterCard Canada, ULC..

Section E: Lobbying of Government Institutions in the Past Month

Every time an organization lobbies, there is a government official representing a government institution at the other side of the table. This section shows the industry-institutions pairs with the most unusual lobbying behavior last month, defined by either unusually high or unusually low lobbying activity. Below that, we show the corresponding organization-institution pairs.

Industries → Government Institutions

Organizations → Government Institutions

The busiest industry → institution corridors this month:

↳ Banking → Finance Canada (FIN): 50 meetings (avg 19, +169%).

↳ Insurance → Finance Canada (FIN): 14 meetings (avg 8, +68%).

↳ Financial investments → Finance Canada (FIN): 14 meetings (avg 10, +46%).

The busiest organization → institution corridors this month:

↳ Canadian Bankers Association → Finance Canada (FIN): 10 meetings (avg 5, +111%).

↳ MasterCard Canada, ULC. → House of Commons: 7 meetings (avg 2, +200%).

↳ Royal Bank of Canada → Finance Canada (FIN): 7 meetings (avg 2, +300%).

Section F: Industry and Organization Lobbying by Subject in the Past Month

All lobbying activity is tagged with a "subject matter". This section shows the industry-subject pairs with the most unusual lobbying behavior last month, defined by either unusually high or unusually low lobbying activity, and below it the organization-subject pairs with the most unusual lobbying behavior last month.

Industries → Subjects

Organizations → Subjects

The busiest industry → subject corridors this month:

↳ Banking → Financial Institutions: 65 meetings (avg 45, +44%).

↳ Mining (metal ore) → Taxation and Finance: 60 meetings (avg 33, +83%).

↳ Mining → Taxation and Finance: 55 meetings (avg 30, +83%).

The busiest organization → subject corridors this month:

↳ Aerospace Industries Association of Canada → Taxation and Finance: 26 meetings (avg 8, +209%).

↳ Agnico Eagle Mines Limited → Taxation and Finance: 23 meetings (avg 10, +126%).

↳ Fertilizer Canada → Taxation and Finance: 22 meetings (avg 4, +450%).

Section G: Last Month's Most Lobbied Politicians and Civil Servants

This section presents a list of the politicians and civil servants who took the most meetings with key industry players last month.

Most Lobbied Individuals by Sector

Most Lobbied Individuals by Organization

Among the individuals with the most notable meeting activity (by sector) this month were Banking → Matthew O'Connell (Finance Canada (FIN)), Banking → Julien Brazeau (Finance Canada (FIN)) and Financial investments → Matthew O'Connell (Finance Canada (FIN)).

Among the individuals with the most notable meeting activity (by organization) this month were Canadian Bankers Association → Matthew O'Connell (Finance Canada (FIN)), Financial Data Exchange, Inc. → Graham Page (Finance Canada (FIN)) and Financial Data Exchange, Inc. → Jonathan Reid (Finance Canada (FIN)).