2016 News & Media Releases
Congratulations to our President and CEO, Janet Ecker on her Order of Canada Appointment
"I am delighted to recognize these new recipients of the Order of Canada in this milestone year," said the Governor General. "Besides marking Canada's 150th anniversary, 2017 marks the 50th anniversary of the Order. So let's be inspired by the examples set by these remarkable Canadians and use this occasion to build a smarter and more caring country in which every individual can succeed to the greatest extent possible."
Participate in Ontario's Red Tape Challenge to Improve Regulation
Participate in the Red Tape Challenge and help Ontario government identify the business regulations that need to be updated, improved or eliminated. They are currently consulting on regulations that applies to the financial services sector, but welcome your ideas no matter what field you work in.
Canada – The RMB Gateway to North America (VIDEO)
In 2014, Canada became the first trading hub in North America for the Chinese currency, the Renminbi (RMB). Businesses trading with China can now see significant cost savings and other benefits by using Canada's RMB Hub.
New Opportunities Knock for Trade Deals
Despite trade deals facing opposition, Canada still has key opportunities to expand its global presence, according to a new report from the C.D. Howe Institute. In "Playing from Strength: Canada's Trade Deal Priorities for Financial Services," authors Daniel Schwanen, Jeremy Kronick and Ramya Muthukumaran summarize Canada's competitive strengths in financial and related services, and provide the top five markets which Canadian trade policymakers should prioritize in order to exploit these advantages.
Financial Services Sector a Source of Capital and Growth for Canada's Economy
The financial services sector has been a strong source of growth for the Canadian economy over the past decade. Beyond the jobs it supports and GDP it generates, the financial services sector also facilitates growth for other businesses in the economy, according to a new Conference Board of Canada report released today.
Spotlight: Deloitte report highlights Toronto, Ontario's rise as a cybersecurity and fintech innovation hub
Invest in Ontario spotlight article featuring the Deloitte report is live!
Canada Fourth Largest Cybersecurity Hub in the World
Canada ranks as the fourth largest innovation hub in the world for cybersecurity with Ontario leading the country, concludes a report released today. Commissioned by Ontario Centres of Excellence (OCE) and the Toronto Financial Services Alliance (TFSA), the report states that Ontario has the potential to assume a more dominant leadership role in cybersecurity, given its current strengths in financial services and technology, if it takes immediate steps to seize the opportunity. The ranking is based on venture capital deals in the cybersecurity sector.
Global Survey: Canadian Companies Lagging Behind Global Use of Chinese RMB
Canadian businesses may be seriously underestimating the importance of renminbi (RMB) payments in improving their relationships with business partners in China, according to a new survey from HSBC Commercial Banking.
TFSA Welcomes New Member: Aequitas Innovations
Launched in March 2015, the Aequitas NEO Exchange is redefining the role of a national stock exchange in Canada using a bold new blueprint that puts investors, businesses looking to raise capital, and dealers first, that gives Canadians an exchange they can believe in, and the industry an exchange they can be proud of.
Thomson Reuters launches new tech centre in Toronto, says it will create 400 jobs
Thomson Reuters Corp. is undertaking a major expansion to its Canadian operation with a plan to build a technology hub that will add 400 high-tech jobs in downtown Toronto over the next two years. Executives at Thomson Reuters, which has deep roots in Toronto dating back to 1934, were drawn to the city as a key access point to talent in the technology sector, at one end of a corridor that stretches to Waterloo, Ont.
National becomes first bank in North America to win approval to issue yuan bonds in China
The National Bank of Canada has become the second Canadian borrower - but the first private sector entity - to be given approval to issue yuan-denominated bonds in China's Panda market. The bank has been given the green light to issue up to 5 billion yuan (about $1 billion) in that country's interbank or onshore bond market.
Welcome to the epicentre of fintech innovation
The Toronto-Waterloo Region fintech corridor is the heart of Canada's financial services industry. It's home to the head offices of the five largest banks and three of the top four insurance companies in the country. These financial institutions are globally recognized, with a broad U.S. and international presence. An hour by air to New York, Boston or Chicago, this vibrant region of Ontario ranks high among the world's most established fintech ecosystems.
Could Brexit benefit Canada? Keep calm and trade on
How can Canada position itself for success in this new global reality? Fortunately, we are starting from a position of strength. We have a long-standing political and economic relationship with Britain that benefits both countries. Britain is Canada's second-largest inbound and outbound investment partner and our third-largest trading partner.
Better Together: Building On The Strengths Of Canada's Four Global Financial Centres
Although Toronto is the financial capital of Canada, 3 other Canadian cities are also key hubs - Montréal, Toronto, Calgary and Vancouver - each with its own unique strengths. A new Conference Board of Canada report suggests that the cities complement each other, allowing Canada's financial services sector to have a depth and breadth beyond what any one financial centre would be able to provide."Canada's financial system is recognized as one of the best and most sound in the world and has been a key driver of economic growth over the past decade," said Michael Burt, Director, Industrial Trends, The Conference Board of Canada. "This growing international prominence has been largely driven by four key financial centres-Montréal, Toronto, Calgary and Vancouver."
Why Brexit could put the spotlight on Toronto as a global financial hub
Canada's financial hub has a unique opportunity to assert itself globally amid the uncertainty the Brexit vote has stirred up overseas, according to Toronto Financial Services Alliance CEO Janet Ecker.
Toronto Financial Services Alliance (TFSA) Welcomes National Solution for Retirement Savings
"While we would have preferred a more targeted approach, we are pleased that both the Federal and Provincial governments have agreed to an enhancement of the CPP that will be easy to administer and will improve retirement income security for Canadians," said TFSA CEO, Janet Ecker. "The Ontario Government should also be commended for the strong leadership role it played in securing todays' agreement."
Canada – The RMB Gateway to North America
A year after becoming the first Renminbi centre in the Western Hemisphere, Canada remains a major player in the push to internationalize the Chinese Currency. The Country has positions itself as the RMB gateway to the world's largest economy and companies based in North and South America can now centralize renminbi payment activity in their own time zone further minimizing exchange rate risk.
Canada’s stable economy, growing Muslim community and international outlook could make it the next Islamic financial hub in North America
With a growing Muslim population, stable economy and openness to the world, Canada is poised to become the North American hub for Islamic finance, local experts have predicted.But many say Canadians must first better understand the growing financial sector, and support from the federal and provincial governments would go a long way to boost its development.
Janet Ecker joining Mayor Tory on a Business Mission to China
"As a top ten international financial centre and now North America's trading hub for the Chinese currency, the Renminbi, Toronto values its strong business ties with China. Many of our growing global financial companies led the way in building those ties and they recognize how important it is to continue to cultivate such relationships. The Mayor's visit is designed to do that by underlining the importance we put on our trading partnership with China and by supporting efforts by our financial companies to expand these business opportunities. We are pleased to participate and look forward to a successful mission." - TFSA President and CEO, Janet Ecker
Toronto Named 4th Most Cost Competitive Major City
KPMG in Canada has released its Competitive Alternatives 2016 report, revealing Canada as the most cost competitive mature market for business and Toronto has the 4th most cost competitive major global city.
Canada is the only RMB hub in a North American time zone, serving Canadian, U.S. and global clients. In terms of the largest global RMB hubs, the most recent data released in March by the Society for
Toronto Financial Services Alliance Supports Province Maintaining Budget Targets and Delaying ORPP
TFSA welcomes statements in today's Ontario Budget confirming the Government's plan to maintain the balanced budget target date of 2017-18, and the delay of the implementation of the Ontario Retirement Pension Plan (ORPP) by one year.
TFSA Welcomes Renewal of Partnership with Ontario Government
Today, the Ontario Government announced that it is renewing its partnership with the Toronto Financial Services Alliance (TFSA) for another three years. The TFSA congratulates and thanks the Ontario Government for its continued commitment and support. "The Ontario Government has been a strong partner in supporting job growth in the sector and in building Toronto region's stature as a global financial centre," said Janet Ecker, President and CEO of the TFSA.
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