Forging a new path for sustainable and inclusive prosperity in Canada
Karsten Wenzlaff, Advisor
August 26th, 2025
Karsten Wenzlaff is a Crowdfunding and Fintech Expert from Germany. He is Secretary-General of Digit[...]
Category Archives: Voices
[Event, Oct 7, 2021]: Rising to the Challenge of New Global Realities
PPF | Sep 28, 2021
Forging a new path for sustainable and inclusive prosperity in Canada
The reopening of the economy and the election of a new Parliament provides an opportunity for the country to address a series of long-standing and more recent societal challenges with the same determination as the pandemic itself. The following critical issues leave Canada no choice but to forge new routes to an improved future:
- Accelerating technological change
- The shifting nature of work
- Rising demands for equality and inclusion
- Disrupted immigration patterns
- Climate-induced energy transformation
- Emerging international rivalries
To this end, a working group of 12 members of Canada’s Senate undertook a study in late 2020 to examine where our nation should turn in developing the next wave of prosperity and how to ensure this success is shared by all. The Senate Prosperity Action Group heard presentations from more than 40 experts from across the economic and social spectrum, which will culminate in a report with recommended policy actions to be released in the weeks ahead.
The Public Policy Forum and Senate Speaker George J. Furey invite you to a special event featuring the Senate Prosperity Action Group and some of the most respected Canadian political leaders of the past half-century including John Manley, former Deputy Prime Minister of Canada, Frances Donald, Chief Economist, Manulife Financial, Tabatha Bull, President & CEO, Canadian Council for Aboriginal Business, Monique Leroux, Chair, Industry Strategy Council and Chris Ragan, Professor, McGill University and former Chair, Eco-Fiscal Commission. Our panelists will unpack the report and discuss how Canadian society can work together to achieve sustainable and inclusive prosperity. We also look forward to welcoming the Rt. Hon. Joe Clark and the Hon. Christy Clark for a fireside chat on Building Consensus which will be moderated by PPF President & CEO, Edward Greenspon.
Event:
Thursday October 7, 2021
1:00 p.m. - 4:00 p.m.
Register for this event --> here
Download the 66 page PDF report --> here
Related Report links:
A New North Star: Canadian Competitiveness in an Intangibles Economy
How to Build Canada’s Competitiveness Amidst the Rise of an Intangibles Economy and Greater Geopolitical Complexity
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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Canadian Women in VC – 3rd Annual Compensation Survey (Deadline Oct 11)
Canadian Women in VC | Sep 28, 2021
The 3rd Annual Canadian Venture Capital Compensation Survey is open for participation!
Over the past 2 years, your participation has helped shine a light on wage standards and discrepancies and facilitated confident conversations and raises across venture capital funds in Canada.
Did you know that:
- Except at the entry-level, men tend to earn more than women in investment roles by 9% and 26% at mid and senior-level roles, respectively.
- Further education has inconsistent effects on salary, indicating that the industry is open to individuals irrespective of their background.
Your participation this year will inform a 2021 Benchmark Report that will be produced by Canadian Women in VC in mid-November.
The deadline to participate is COB on October 11th.
Access the survey HERE --> https://bit.ly/3igS5NF
See:
Why is venture capital still ignoring women? The case for investing is clear.
Women In Fintech Will Play A Crucial Part In The Covid-19 Recovery Plan
Culture: Why regulators should care about diversity and inclusion
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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Retail Investors are just collateral damage (again)
Fair Canada | Sep 15, 2021
The three banks (RBC, TD Bank and CIBC), according to recent media reports, have decided to stop selling “third-party” mutual funds to segments of their clients in their bank branches.
This was in response to the “know-your-product” (KYP) rules, a component of the client focused reforms.
How can the three banks justify this move?
They say it’s because under the new rules starting in 2022, employees in local bank branches who hold themselves out as financial advisors will have to know and understand the mutual funds they sell to clients.
Apparently, it is too much work to train their advisors to understand mutual funds offered by other banks or manufacturers before selling them. So, to make it easier to comply with the know-your-product rules, they will simply limit choices available to their clients.
See: Retail investors are becoming more than shareholders
Their decision is deeply disappointing. These banks are flying in the face of the spirit of the client focused reforms. By limiting customer choices in an apparent attempt to reduce their know-your-product compliance obligations, they are putting their own interests ahead of their clients’ interests.
This is ironic, given the countless public commitments by these banks to put the client first in everything they do. Their statements below now ring hollow:
- “Our purpose of helping make our clients’ ambitions a reality is our north star” (CIBC).
- “Client First: We will always earn the right to be our clients’ first choice” (RBC).
- TD Bank’s “shared commitment” to “think like a customer”.
Some commenters have suggested that banks are pulling back third-party mutual funds to further entrench their already dominant market share for mutual funds and increase their fee revenues. Others say it’s no big deal since only a small number of clients will be affected. But it does matter because it hurts investors, who will have fewer choices available to them. It may also lead to higher or additional costs for clients who may choose to switch banks down the road.
Continue to the full article --> here
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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Canada’s Library of Parliament Report: A Comparison of Open Banking Recommendations
Senator Colin Deacon | Sep 27, 2021
On June 19th, 2019, the Senate Standing Committee on Banking, Trade and Commerce (Senate Banking Committee) released the report, Open Banking: What it Means for You, Following the release of this report, Senators Colin Deacon and Howard Wetston continued to invest a considerable amount of time advancing the issue of open banking. Their ongoing efforts reflect the Senate Banking Committee’s unanimous view that Canada should urgently develop and implement an open banking framework.
More than two years later, on August 4th, 2021, the Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, released the Advisory Committee on Open Banking (Advisory Committee)’s April 2021 Final Report.
See: FFCON21 On-Demand with Seanator Colin Deacon: Inclusive Banking and Affordable Credit
Following a request from Senator Wetston, recent chair of the Senate Banking Committee, the Library of Parliament completed a side-by-side comparison between the 10 recommendations made by the Senate Banking Committee and the 34 recommendations made by the Advisory Committee.
The comparison identified that the Advisory Committee’s report contains additional, more detailed recommendations than those outlined in the Senate Banking Committee’s report, but that they did not differ in terms of direction or intent. It is reasonable to conclude that additional insight was garnered due to the Advisory Committee’s second round of consultations, the rapidly accelerating global experience in open banking, and the increasing attention to the topic in Canada.
Continue to the full article --> here
Download the 9 page PDF report: 'A Comparison of Open Banking Recommendations' --> Here
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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Betakit podcast with Senator Deacon on Open Banking and Competition
Betakit | Sep 27, 2021
“The reality is [the banks] have been used to an environment where they can increase fees without increasing value to customers.”
Biography: Senator Colin Deacon
The Honourable Colin Deacon’s entrepreneurial background brings a unique perspective to Canada’s Upper Chamber. Before his June 2018 appointment to the Senate as an Independent Senator representing Nova Scotia, Senator Deacon spent much of his career turning ideas into organizations, products and services that improve lives.
Also:
Canada’s Library of Parliament Report: A Comparison of Open Banking Recommendations
Minister Freeland releases final report with 34 recommendations on Open Banking from the Advisory committee
FFCON21 On-Demand with Seanator Colin Deacon: Inclusive Banking and Affordable Credit
In 2009, he founded BlueLight Analytics, a company in the restorative dentistry field. The company has successfully commercialized new technologies that improve the longevity of dental fillings. Their products were sold in dozens of countries, and they worked with most dental multinationals. Until 2006, he served as CEO of SpellRead, which improved reading skills among children and adults, and was regularly cited as one of Atlantic Canada’s fastest-growing companies. Senator Deacon has also contributed to the charitable sector, where he has been an active member on the board of several organizations, including those dedicated to children’s health and well-being, mentorship, and celebrating social innovators.
His career has focused on enabling collaboration between research and business, and Senator Deacon continues to be a strong advocate for knowledge mobilization.
As part of the Senate, he has been a strong advocate for entrepreneurs, harnessing the digital economy, updating Canada’s privacy legislation, ensuring global competitiveness of Canadian firms, and promoting Canadian leadership on climate change. See more
Continue to the full article --> here
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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Maureen Jensen joins OBSI Board to become next Chair
Ombudsman for Banking Services and Investments (OBSI)| Release | Sep 23, 2021
TORONTO, Sept. 23, 2021 /CNW/ - OBSI's Board of Directors is pleased to announce the appointment of Maureen Jensen to the board effective immediately. Ms. Jensen has also been selected to be nominated as the next Chair of OBSI's Board of Directors at the next Annual General Meeting of the organization to be held in March 2022. Ms. Jensen will succeed Jim Emmerton, whose term as Chair will be coming to an end following 12 years of service.
Ms. Jensen has been a leader in the investment industry and securities regulation for more than 20 years. She is the past Chair and Chief Executive Officer of the Ontario Securities Commission (OSC). Prior to her service in that role, Ms. Jensen was the OSC's Executive Director and Chief Administrative Officer. Ms. Jensen has also held senior roles at the Investment Industry Regulatory Organization of Canada (IIROC), the Market Regulation Services Inc. and was a director of the Toronto Stock Exchange.
See: Maureen Jensen to step down from OSC
"It is my pleasure to welcome to the board Maureen Jensen, who has been a strong supporter of OBSI throughout the years as well as a long-standing proponent of investor protection as a critical pillar of a prosperous financial services sector. She is an exceptional leader and an excellent addition to the board," said Mr. Emmerton. "This is an important time for Canada's financial consumer protection framework and for OBSI. The Liberal Government committed in its election platform to establish a single banking ombudsman with binding authority to replace the current system where banks can choose the referee for complaints. And Canadian securities regulators are working with OBSI to establish binding authority for investor complaints. Federal and provincial governments and regulators are clearly recognizing the critical role an ombudsman service can play. I am delighted to be able to welcome such a strong and effective leader to OBSI to help shepherd the organization through the years to come."
See: Canada: Budget 2021’s Impact On The Canadian Financial Sector
"As a supporter of OBSI dating back to my years of leadership at the OSC, I look forward to working with the board and OBSI stakeholders to support OBSI's public interest mandate and its ongoing efforts to inspire confidence in Canada's financial services system," said Ms. Jensen. "Especially now, as Canadian governments both federally and provincially are undertaking key initiatives to strengthen financial consumer protection and ensure that an effective and fair financial ombudsman service is in place for Canadian consumers and industry."
Ms. Jensen's appointment follows an intensive search led by the board's Governance and Human Resources Committee which began earlier this year.
OBSI's board and staff congratulate Ms. Jensen on her appointment and look forward to working with her in her new role.
View release: here
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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Twitter to allow Bitcoin tipping to their favourite creators
CNBC | Salvador Rodriguez | Sep 23, 2021
Twitter
on Thursday announced it will now allow users to tip their favorite creators on the social network using bitcoin.
The company introduced tipping as a test feature back in May as a way to experiment with helping creators earn payments from their followers for the content they post on Twitter. The company announced Thursday that its Tips feature will now roll out globally to all Apple iOS users this week and will become available for Android users in the coming weeks.
Previously, users could tip with fiat currency using more traditional payment services such as Square's Cash app and PayPal's Venmo. Twitter will integrate the Strike bitcoin lighting wallet service so creators can receive bitcoin tips. The company will also allow users to add their bitcoin address to send and receive these cryptocurrency tips.
Twitter does not take a cut of any money sent through its Tips feature.
The integration of bitcoin to Twitter's tip feature is hardly surprising considering CEO Jack Dorsey is one of the most vocal supporters of the cryptocurrency.
See: Inside Jack Dorsey’s Next Big Bet on Bitcoin, DeFi
In just the past few months, Dorsey has tweeted that he is trying his hand at bitcoin mining. He said he doesn't think there is anything more important to work on than bitcoin and he has even said that his hope is bitcoin will bring about world peace.
Additionally, Twitter on Thursday said it is also experimenting with a feature that would allow users to authenticate and showcase their collections of NFT digital assets on the social network. The company did not provide much detail or any specifics about this blockchain project, but said it's another way to support creators who make digital art.
Continue to the full article --> here
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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