Brad Callaghan

2. Discussion on policy options to allow electronic delivery of financial information and improve Canadian investors’ experience 1. Discussion on policy options to strengthen retirement security of Canadians and to build a vibrant investment industry.

Discussion relating to Canada’s COVID-19 economic response plan to provide credit through the Business Development Bank of Canada (BDC) and Export Development Canada (EDC) under the Loan Guarantee for Small and Medium-Sized Enterprises, the Co-Lending Program for Small and Medium-Sized Enterprises. Discussion relating to Canada's COVID-19 economic response plan. The Income Tax Act and Excise Tax Act as they relate to the taxation of credit unions, cooperatives and small business. Winding-up Restructuring Act and applicability to credit unions and credit union centrals. The Personal Information Protection and Electronic Documents Act with respect to impact on credit unions and credit union centrals. The Organization for Economic Co-operation and Development (OECD) Common Reporting Standards and potential impacts on credit unions. The Canada Anti-Spam Law as it relates to contraventions under the Act and general impact on credit union operations. Proceeds of Crime (Money Laundering) and Terrorist Financing Act with respect to reporting and compliance obligations of credit unions and credit union centrals. Participated in the Department of Finance consultation on the development of a financial consumer code. Continue to monitor its development. Monitor the financial powers and operations of the Business Development Bank of Canada as being considered during the current statutory Parliamentary Review of the Business Development Bank of Canada. Monitoring housing finance policy as it relates to data collection by the Government, Regulatory Burden and how policy will affect consumers. Issues that impact the competitiveness of credit unions including: Accessibility to Canada Mortgage and Housing Corporation’s (CMHC) default management tools, federal credit union legislation; CMHC's mortgage insurance policies; and anti-money laundering and anti-terrorist financing legislation; social finance and social innovation; financial literacy International Monetary Fund (IMF) - Financial Sector Assessment Program (FSAP) and Article 4 consultations. Income Tax Act - any provision applicable to credit unions including but not limited to (Part XVIII and Part XIX) pertaining respectively to the automatic exchange of financial account information with the United States under the intergovernmental agreement to facilitate compliance with the "The Foreign Account Tax Compliance Act (FATCA) and the automatic exchange of financial account information with jurisdictions other than the US in accordance with the Common Reporting Standard. Financial Action Task Force (FATF) - mutual evaluations of Canada Engaging with all Government stakeholders that are investigating the implementation of an open-banking framework in Canada and how that will affect credit unions and their members. Discussion relating to a national strategy on financial literacy, with respect to the work of the credit unions on financial literacy. Co-operative Credit Associations Act scheduled review of federal financial institutions legislative review due in 2023. Competition Act - merger review standards, performance and fees of the Competition Bureau as they affect credit unions, compliance programs. Canadian Payments Act - Monitor work by the Department of Finance, Bank of Canada and the Canadian Payments Association related to any amendments to CPA Act and proposed modernization initiatives. Canada Deposit Insurance Corporation (CDIC) Act. Monitor the progress of the CDIC review of deposit insurance and participate in any consultations or research initiatives Monitor any resulting changes to the CDIC Act. Bankruptcy and Insolvency Act as it relates to lending practices and priority of security. Monitor and participate in the review of the Act. Bank Act - federal credit union provisions. Competitiveness of credit unions, Section 983 Bank Act - Section 427-429 Bank Act security. The 2025 review of federal financial institutions legislative review. Aboriginal reconciliation- Discussion on

Working with the government to protect Canadians against fraud and scams, including the development of the National Anti-Fraud Strategy. Contribute to the development and implementation of a Canadian consumer driven banking framework and the development of associated regulation. Policies and programs relating to the efficiency and effectiveness of the financial sector regulatory system, specifically the red tape reduction review. Open dialogue with relevant public office holders to emphasize Capital One's important role in Canada’s financial landscape and the unique business conditions of small and medium banks in Canada. Support the development of an innovative, efficient, and secure payments ecosystem in Canada that benefits consumers. The Bank Act and various associated regulations, in particular those pertaining to Schedule III banks.

Work with the federal government to develop policies that seek greater transparency and a frictionless experience for Canadian consumers, promoting greater competition in the financial sector. The Retail Payments Oversight Framework, with respect to market conduct, liability, end-user funds safeguarding, operational risk mitigation, and other provisions. The government's review of the financial sector legislative framework with a focus on the digitalization of money The federal government's review and involvement of open banking in Canada's financial sector, as well as the modernization of federal privacy laws The Canadian Payments Act, with respect to membership, governance, funding, liability, and other provisions, as well as payment system modernization.

Bill C- 29, the Financial Crimes Agency Act with respect to the impacts on payment service providers. Discuss financial sector policy matters such as payments systems, e-commerce, and data security; Discuss policy options and industry trends in regards to the Consumer Driven Banking Act and The Stablecoin Act (C-15 Budget Implementation Act 1) Monitor developments regarding the Personal Information Protection and Electronic Documents Act. Emerging policies and regulation of the financial technology or "fintech" sector to allow for greater innovation and competition. Potential regulations and policies concerning real time rail /faster payments under review by Government of Canada/Payments Canada. Monitor developments and amendments to the Proceeds of Crime (Money Laundering) and Terrorist Financing Regulations. Monitor development of the Retail Payments Oversight Framework and regulations as part of the implementation of the Retail Payments Activities Act (RPAA) Discuss policy options and industry evolution with respect to Open Banking. Discuss challenges confronting Canadian Small and medium size businesses in the digital economy and the role of online payment systems in supporting SMBs in Canada.