This is Queen Street Analytics' weekly digest of regulatory developments, legislative discussions and other government-related news for professionals in the financial industry, banking, credit unions, insurance, payment processing, fintech, credit card issuing, asset management, venture capital, private equity, and crypto-currencies. Once a week, we break down the most important updates in this space in under five minutes.

Want to track other GR news in adjacent industries? Don’t miss this week’s updates in ICT & Cybersecurity. Also consider subscribing to our Finance - Washington edition covering critical GR news south of the border.

Dates: 2026-03-15 to 2026-03-21

📋 In This Week's Newsletter

• 🏛️ This Week's Parliamentary Calendar
• 🇨🇦 Federal Government News
• 🗺️ Provincial Government News
• 📚 What We're Reading This Week

This Week's Parliamentary Calendar

• Public Accounts Committee: Auditor General’s Spring 2026 Reports & Clause-by-Clause Review of Bill C-230: On March 23, the House Public Accounts Committee sits 11:00 a.m.–1:00 p.m., hearing from Auditor General Karen Hogan and senior OAG staff on the 2026 Spring Reports, and from Department of Finance and Canada Revenue Agency officials for clause-by-clause consideration of Bill C-230, concerning a debt forgiveness registry.
• Industry and Technology Committee: Study on AI Regulation in Strategic Industries: Scheduled for March 23, 3:30–5:30 p.m., the House Industry and Technology Committee will continue its study on opportunities, risks, and regulation of artificial intelligence, with witnesses including Yoshua Bengio, Michael Geist, and additional cybersecurity and technology experts.
• Status of Women Committee: Abuse and Financial Vulnerability of Senior Women: Meeting March 24, 11:00 a.m.–1:00 p.m., the Status of Women Committee will take evidence from advocacy leaders and law enforcement regarding senior women’s financial abuse and vulnerability.
• Senate National Finance Committee: Clause-by-Clause of Bill C-15 and Compensation Issues: On March 24, the Senate’s National Finance Committee will conduct a clause-by-clause review of Bill C-15, the budget implementation act, hearing from RCMP and public sector witnesses on compensation and corporate management issues.
• Senate National Finance Committee: Supplementary Estimates (C) Review: Also on March 24, at 3 p.m., the Senate National Finance Committee will review Supplementary Estimates (C) for 2025-2026, with testimony from Crown-Indigenous Relations and Northern Affairs and Veterans Affairs Canada.

Federal Government News

FINTRAC Enforcement Actions Accelerate; 23 Money Services Business Registrations Revoked

On March 17, the Honourable François-Philippe Champagne, Minister of Finance and National Revenue, issued a statement detailing new measures in Canada’s anti-money laundering regime. The government reported the revocation of 23 money services business (MSB) registrations in a single day as part of FINTRAC's escalated enforcement approach. These actions are enabled by expanded resources for FINTRAC, increased RCMP capacity, and the recent creation of the Canadian Financial Crimes Agency. The Minister referenced strengthened supervision and compliance powers under Bill C-12, affirming that additional measures are planned for oversight of virtual currency operators and crypto ATMs. Legislative and regulatory changes are ongoing to ensure that registration revocations and compliance actions are transparent and accessible; interested stakeholders can review recent enforcement actions on FINTRAC’s website.

Sources: www.canada.ca

NEW NSF Fee Cap and Enhanced Affordability Measures Take Effect with C-4 Passage

The Department of Finance Canada announced on March 17 a sweep of regulatory and fiscal measures now codified following enactment of Bill C-4, the Making Life More Affordable for Canadians Act. Bank and payment sector actors face a new legal framework prohibiting personal deposit account NSF (non-sufficient funds) fees above $10 per incident, forbidding multiple NSF fees on a single account within 2 business days, and exempting overdrafts under $10 from any such fees. Further, the government is implementing a 25% increase in the GST Credit—renamed the Canada Groceries and Essentials Benefit—effective July 2026, plus a one-time spring payment, impacting more than 12 million Canadians. Concurrent personal finance tax adjustments, including a reduction in the first marginal federal personal income tax rate from 15% to 14% for incomes up to $58,523, will provide up to $420 in annual relief. The government further detailed a GST rebate for first-time homebuyers on new construction—up to $50,000 in savings on new homes up to $1 million—as well as a permanent removal of the federal consumer fuel charge. All measures were directly tied to legislative timelines, with new GST rules on properties applying to contracts signed from March 20, 2025 onward and through 2031.

Sources: www.canada.ca

Canada Growth Fund Invests $20 Million in Québec Clean-Tech Fertilizer Firm

On March 17, Minister François-Philippe Champagne announced a $20 million equity commitment by the Canada Growth Fund, alongside $30 million from Idealist Capital, to Solugen—a Québec-based manufacturer of organic nitrogen fertilizer using hog manure feedstock. Solugen’s product Azogen aims to strengthen North American supply chains and agricultural output, supporting the organic sector’s competitiveness. This funding is directed to expand Solugen’s capacity at its St-Patrice-de-Beaurivage facility and build a second plant in Québec, with anticipated impacts on rural job creation and regional economic activity. The announcement signals ongoing deployment of the Canada Growth Fund for scaling climate- and technology-driven ventures in the agricultural domain.

Sources: www.canada.ca

StatsCan: Surge in Foreign Bond Investment in January 2026

Statistics Canada data released March 18 shows foreign investors purchased $46.7 billion in Canadian securities in January 2026, driven by record-level investments in the Canadian bond market. In the same period, Canadian investors acquired $11.4 billion in foreign securities. These cross-border flows indicate continued international demand for Canadian fixed-income assets at the start of 2026 and persistent Canadian allocations outward.

Sources: www.statcan.gc.ca

Household Financial Net Worth Climbs, Approaching $18.6 Trillion

Statistics Canada's National Balance Sheet figures published March 16 confirm Canadian household net worth reached $18,594.9 billion at year-end 2025, rising $230.2 billion over the fourth quarter. The data extends a recovery trend in net household wealth that began in late 2023, indicating ongoing asset gains relative to liabilities.

Sources: www.statcan.gc.ca

Monthly Credit Aggregates for January 2026 Now Available

On March 19, Statistics Canada released January 2026 credit aggregate data. The dataset provides details on credit growth, outstanding loan balances, and related lending trends for the finance industry.

Sources: www.statcan.gc.ca

Employer Pension Plan Data, Q3 2025

Statistics Canada has made new third-quarter 2025 data available on trusteed employer pension plans. The data details total assets, foreign and domestic holdings, and revenues and expenditures for Canadian trusteed pension funds.

Sources: www.statcan.gc.ca

Reconciliation Tables Link Public Accounts of Canada and Government Finance Statistics

A new experimental product released by Statistics Canada on March 20 provides reconciliation tables aligning key aggregates and conceptual differences between the government’s Public Accounts and Statistics Canada’s official Canadian government finance statistics, covering the period 2019–2022.

Sources: www.statcan.gc.ca

Secretary of State Event on Affordability Initiatives

The Honourable Wayne Long, Secretary of State responsible for the Canada Revenue Agency and Financial Institutions, held an event in Edmonton on March 16 to discuss current affordability policies and answer media questions on further planned economic measures.

Sources: www.canada.ca

Provincial Government News

Québec Announces $1.7 Billion for Economic Transformation Over Five Years

Québec’s 2026-2027 budget includes $1.7 billion in new funding for economic transformation, regional business support, and innovation, as well as a $500 million loan guarantee fund for Indigenous participation in major projects.

Sources: www.quebec.ca

Québec Budget 2026-2027: Additional $9.6 Billion in Expenditure and Infrastructure Outlays

The Québec government budget for 2026-2027 provides $9.6 billion in new measures targeting public service improvement, labor market integration, community support, and $5 billion in new infrastructure spending over six years. The deficit for 2026-2027 is projected at $6.3 billion (0.9% of GDP).

Sources: www.quebec.ca

Ontario Reports Fourteen Convictions Under Key Provincial Tax Statutes

Ontario Ministry of Finance disclosed multiple convictions under the Retail Sales Tax, Land Transfer Tax, and Employer Health Tax acts, with penalties ranging from several hundred to tens of thousands of dollars for false statements and nonpayment violations.

Sources: news.ontario.ca

Alberta Reappoints Members to Securities Commission

Stan Magidson has been reappointed as Chair of the Alberta Securities Commission until June 2028, with Karen Kim and Raymond Crossley given extended appointments, effective April and July 2026.

Sources: www.alberta.ca

Québec Tables 2026-2027 Budget Focused on Infrastructure and Economic Priorities

The 2026-2027 Québec budget, presented by Minister Eric Girard, sets out a policy agenda centered on infrastructure investment and support for the province’s economic priorities. Full details are available on the government’s dedicated budget portal.

Sources: www.quebec.ca

What We're Reading This Week

• Opinion: Fixing Canada’s dysfunctional mortgage system: Coverage examines systemic issues in Canada’s mortgage and lending system.
• Securities regulators announce pilot project on semi-annual financial reporting: Story on market impacts of reduced reporting frequency.
• National Bank, CIBC commit to tracking key climate-financing measure: Piece details new bank initiatives to monitor climate financing flows.
• Banks moving forward on measuring key climate financing measure: Banks address measurement practices in climate-related finance.
• Dayforce Expands Partner Ecosystem with Emburse and Docusign to Simplify Finance and HR Workflows for Customers: Report on Dayforce’s integrations with Emburse and Docusign for workflow automation.
• MLAs to hear from the public for 3 days next week on Financial Measures Act: Coverage previews upcoming public sessions on the Financial Measures Act.
• The $308B Security Pivot: Reshaping Digital Safety for the Quantum Age: Article discusses industry implications of quantum-related security investments.
• Canadian Fintech: Remitian Raises 💸: Brief mentions capital raise for Canadian fintech Remitian.

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