Questions and responses 45th Parliament, 1st session May 26, 2025, to present

With regard to the terms and conditions imposed by the former Minister of Finance on the sale of HSBC Canada to the Royal Bank of Canada in December 2023: (a) which of the terms have been fully met to the government's satisfaction as of October 2, 2025; (b) which of the terms have not been met to the government's satisfaction as of October 2, 2025; (c) for each of the terms that have not been met, what deadline has the government set for each to be met, and what are the consequences if they are not met; and (d) have any punitive measures been imposed on the Royal Bank of Canada related to not meeting the terms, and, if so, what are the details of such measures?

With regard to the federal government’s oversight of Canadian financial institutions and the measures proposed in Bill C-15, An Act to implement certain provisions of the budget tabled in Parliament on November 4, 2025, sections 333–336: (a) what measures has the government taken since 2015 to ensure that banks compensate victims of fraud, particularly in cases where fraud occurred through methods clearly inconsistent with the customer’s typical transaction patterns or with the facilitation of bank staff or digital vulnerabilities; and (b) what legislative or regulatory changes, if any, is the government planning that would be comparable to the anti-fraud protections comparable to those enacted in Australia or the United Kingdom, such as mandatory reimbursement of fraud victims unless adequate safeguards are proven, binding authority for the Ombudsman for Banking Services and Investments, or mandatory public reporting of violations?