Financial Regulatory Excellence Initiative
Advancing evidence-based financial regulation to strengthen Canada’s economic competitiveness and financial stability
About the Initiative
The Initiative conducts rigorous and independent assessments of existing and proposed financial sector regulations, identifying regulatory effectiveness and gaps, and promotes a common understanding of optimal regulation.
Evidence-Based Policy
Advancing regulatory frameworks grounded in rigorous research and empirical analysis
Balancing Dynamism and Stability
Promoting financial sector innovation and competitiveness alongside financial stability
Stakeholder Engagement
Facilitating dialogue between regulators, industry leaders, and policymakers
Latest Research
Core initiative content and expert perspectives on financial regulation
Financial Services and Regulation
August 2026
24 pages
Gherardo Caracciolo
This third edition of the scorecard on Canadian financial regulation finds that regulators continue to place overwhelming emphasis on stability, resilie…
Financial Services and Regulation
October 2025
24 pages
Gherardo Caracciolo
In the second year of our regulatory scorecard paper, results continue to show the need for a more balanced approach to financial…
Financial Services and Regulation
July 2024
20 pages
Paul Bourque & Gherardo Caracciolo
Canadial financial sector rules need careful wedding the system and market stakeholders, while creating conditions for…
Featured Publications
February 20, 2025
Donald Trump’s tariff threats have underscored the need for Canada to diversify its international trade and reduce interprovincial barriers.
By Mark Zelmer and Jeremy Kronick
August 16, 2024
Regulation is an important part of Canada’s financial landscape. But to ensure the rules supports an efficient financial regulatory…
By Paul Bourque and Gherardo Caracciolo
June 2026
Working Towards Excellence: Advancements for the Financial Regulatory Excellence Initiative
Regulation of financial markets is fundamental for an efficient, resilient and well-functioning financial market. With a comprehensive and structural analytical tool, laying out how financial sector rules and regulations have evolved over time, we can assist regulators develop a modern and efficient regulatory framework. Gherardo Caracciolo, Senior Policy Analyst, explains.
We need to rebalance financial regulation in Canada
Future-Proofing Canada’s Financial System
Bourque and Caracciolo – How to Improve Financial Regulation. Pruning Would Help