Welcome to Candid Conversations for Financial Markets Podcast Series. Our podcasts are designed to provide insights, transparency, and provocative yet achievable proposals for matters that move financial markets in Canada.
With Canada’s Consumer-Driven Banking Act receiving Royal Assent in March 2026, and draft regulations now released, Canada’s consumer-driven banking framework, also known as open banking, is beginning to take shape.
In this episode, we examine the legislation and key elements of the draft regulations, and whether its policy objectives of improving financial outcomes for people and businesses are being met.
Guests
Abhishek Sinha (https://www.ey.com/en_ca/people/abhishek-sinha)
Banking & Capital Markets, Partner | EY Canada
Puneet Mann (https://www.ey.com/en_ca/people/puneet-mann)
Banking & Capital Markets, Partner | EY Canada
1 Sept 2026
EP 15 - Venture Capital in the Age of AI
In this episode, we explore why today’s venture capital market looks fundamentally different from previous cycles and the role artificial intelligence is playing in this transformation.
The conversation includes:
Changing patterns of venture capital allocation globally.
Where investment is concentrating and how that is reshaping the broader venture ecosystem.
How companies are accessing liquidity in a challenging exit environment and
The growing role of venture secondaries.
Guest
Miguel Luiña (https://www.linkedin.com/in/miguel-luina)
Managing Director, Co-Head of Venture Capital & Growth Equity, Hamilton Lane
22 Jul 2026
EP 14 - Inside Canada’s Privacy Overhaul (Part 2): New Compliance Requirements
A quarter century after the Personal Information Protection and Electronic Documents Act (PIPEDA) reshaped Canada’s privacy landscape, Ottawa is proposing a sweeping overhaul.
On June 15, 2026, the federal government introduced Bill C-36, legislation that would replace the private-sector privacy framework established under PIPEDA with a new regime: the Protecting Privacy and Consumer Data Act (PPCDA).
In Part II of this two-part podcast series, we examine the practical implications of the proposed PPCDA, including enhanced consent requirements, greater transparency around automated decision-making, expanded rights to data deletion and mobility, and a new framework for de-identified and anonymized information.
We also explore heightened expectations surrounding cross-border data transfers, third-party service provider oversight, privacy management programs, and security safeguards—and what these changes could mean for organizations as they prepare for a new era of privacy regulation in Canada.
Guest: Stephen Burns, Partner, Bennett Jones LLP
22 Jul 2026
EP 14 - Inside Canada’s Privacy Overhaul (Part 1): The Policy Rationale and Legal Framework
A quarter century after the Personal Information Protection and Electronic Documents Act (PIPEDA) reshaped Canada’s privacy landscape, Ottawa is proposing a sweeping overhaul.
On June 15, 2026, the federal government introduced Bill C-36, legislation that would replace the private-sector privacy framework established under PIPEDA with a new regime: the Protecting Privacy and Consumer Data Act (PPCDA).
In Part I of this two-part podcast series we focus on why the government is pursuing privacy reform now, how the PPCDA is different from the current PIPEDA regime, the recognition of privacy as a fundamental right, and the introduction of private right of action for Canadians.
Guest: Stephen Burns, Partner, Bennett Jones LLP
24 Jun 2026
EP 13 - Tokenization: Rewiring Capital Markets
This podcast sets out the impact of tokenization as a reconfiguration of specific parts of the capital markets value chain from issuance through to post-trade.
It addresses where the frictions, skepticisms and opportunities lie.
Duane Block, Managing Director with Alvarez & Marsal’s Crypto Advisory practice in Chicago speaks about why tokenization matters and its impact on market structure.
The topics covered on this podcast also include:
Foundational Token Models
Raising Capital and Connecting with Investors
The Secondary Market
Settlement, Clearing, Custody, Servicing
27 May 2026
EP 12 - Breaking Up Should Not Be Hard to Do: The Value of Corporate Spinoffs
Corporate spinoffs—known in Canada as “butterflies”—are a powerful tool for unblocking capital and sharpening competition. They let companies separate business lines so each can focus, invest, and compete more effectively.
In this episode we explain how spinoffs work in Canada and the U.S., why they matter for competition and capital markets, and what policy and tax design should do to make sure breaking up isn’t hard to do.
Guest: Manu Kakkar | President, Kakkar CPA Professional Corporation
20 May 2026
EP 11 - Data Portability and Consumer Control
Based on the Competition Bureau’s “Your Data, Your Control,” this episode connects policy to day-to-day outcomes.
Canada is moving toward “your data, your rules.” That shift could reshape how you bank, shop, and compare prices.
The big idea: data portability lets you take your information with you securely so switching providers is easy, competition heats up, and better products show up faster.
This episode gets practical about what a working framework needs to overcome in human behavior, privacy guardrails and system design..
Guest: Azza Raslan (https://www.linkedin.com/in/azza-raslan/) | Acting Manager of Competition Law with the Competition Bureau’s Policy, Planning and Advocacy Directorate
22 Apr 2026
EP10 - From Assets To Tokens
Tokenization—the representation of financial and private assets as digital tokens on a blockchain or distributed ledger—is moving from concept to reality. Across the financial services landscape, tokenization is more than a technological shift but emerging as a structural evolution with the potential to fundamentally transform how financial products are created, distributed, and serviced.
Join us for a strategic, forward-looking discussion as we examine:
Who is leading the charge.
What is driving the momentum.
Implications for industry participants – asset managers, wealth managers, custodians.
The real-world benefits.
Operational realities and execution challenges.
Broader market impacts and competitive dynamics.
Regulatory developments in major markets.
Guest: German Soto (https://www.linkedin.com/in/german-soto-28b05183/) | Chief Product & Digital Assets Officer | Broadridge Financial Solutions, Inc.
Flow-through shares are a uniquely Canadian financing mechanism at the intersection of tax policy, capital formation, and resource strategy.
This episode will provide a focused perspective on the funding gap they were designed to solve and their ability mobilize capital for critical minerals including rare earths.
Guest
Geoff Clarke (https://www.millerthomson.com/en/your-team/geoff-clarke/)
Partner, Miller Thomson LLP
17 Mar 2026
EP08 - Why Do Some Markets Consistently Attract More IPOs Than Others? A Global View
Why do some exchanges consistently attract more listings while others struggle to get noticed?
In this episode we explore:
What truly shapes the frequency and size of IPOs globally.
How policymakers, regulators, and exchanges can create conditions that boost listings.
Practical lessons for market participants navigating today’s and tomorrow’s capital markets.
Guest
Dr. Pedro Gurrola-Perez
Head of Research, The World Federation of Exchanges Ltd.
10 Mar 2026
EP07 – Prediction Markets Enter The Financial Mainstream
Prediction markets are no longer on the fringes — they are moving towards the financial mainstream. Platforms such as Kalshi and Polymarket have experienced rapid growth by allowing investors to buy and sell event contracts tied to real-world outcomes — elections, policy decisions, inflation prints, regulatory rulings, even championship games — turning uncertainty into a marketable asset.
In the United States, oversight by the Commodity Futures Trading Commission has helped provide regulatory legitimacy to a space once viewed as a speculative novelty. Meanwhile, major exchange operators — including CME Group, Cboe, and Intercontinental Exchange — are exploring or supporting prediction-based products. Brokerage platforms such as Interactive Brokers and Robinhood are also expanding access and infrastructure, while several asset managers have filed for exchange-traded funds designed to provide direct exposure to election-related prediction markets.
Research from the U.S. Federal Reserve System has further concluded that prediction markets can serve as a valuable complement to existing forecast tools in both research and policy settings.
In Canada, while interest in event-based markets is growing, the ecosystem is still at an earlier stage of commercial and policy development compared with the United States.
The podcast will explore what the rise of prediction markets could mean for the future of financial markets.
11 Nov 2025
EP06 – Why Stablecoins Matter to Canada – And the Path Forward
Stablecoins are growing fast — but is Canada ready? In this episode of Candid Conversations for Financial Markets, CCFIMPresident and CEO Laura Paglia is joined by Dr. Andreas Veneris, Professor of Finance at the University of Toronto and co-founder of the LedgerHub at Rotman.
25 Aug 2025
EP05 – Market Data Costs: Swelling to Buy – Not Produce
Market data is no longer just a by-product — it’s become one of the most expensive necessities in Canadian capital markets. In this episode of Candid Conversations for Financial Markets, CFFiM President and CEO Laura Paglia is joined by R. Tee Williams, a global expert in market structure and data pricing, to break down the tangled costs behind something as simple as a stock quote.
8 May 2025
EP04 – From Lambs to Lions: Competition is the Path to Competitiveness (Part 2)
In Episode 5 (Part 2) of Candid Conversations for Financial Markets, IIAC President and CEO Laura Paglia continues her discussion with Senator Colin Deacon on how to rebuild Canada’s competitiveness. This half focuses on real-world solutions: how Canada can strengthen its innovation ecosystem, attract domestic investment, support entrepreneurship, and modernize its regulatory framework.
5 May 2025
EP03 – From Lions to Lambs: The Decline of Canadian Competitiveness (Part 1)
In Episode 4 (Part 1) of Candid Conversations for Financial Markets, IIAC President and CEO Laura Paglia sits down with Senator Colin Deacon to discuss why Canada's economy is losing ground in global competitiveness. Senator Deacon outlines the historic policy decisions, regulatory burdens, and complacency that have led to declining productivity and weakened innovation.
16 Apr 2025
EP02 – “Drill Baby Drill”: Can US’ “Energy Emergency” Bring Wins for Canada
How is Canada positioned in the global race for energy and clean tech innovation? In Episode 2 of Candid Conversations for Financial Markets, IIAC President and CEO Laura Paglia speaks with Professor Ari Pandes (University of Calgary) about the future of Canada’s oil & gas sector, clean tech growth, and energy market dynamics between Canada and the U.S.
14 Apr 2025
EP01 – Re-Energizing Canada’s Public Equity Markets
Canada’s public equity markets are at a turning point. In this premiere episode of Candid Conversations for Financial Markets, IIAC President and CEO Laura Paglia sits down with Thomas Kalafatis, Managing Partner of Hullwright Advisors, to examine the dramatic decline in TSX listings—down 50% since 2008—and what’s behind this hollowing out of the market.
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