Speaking recently with the Financial Post, Alana Scotchmer, a partner at Gowling WLG, provided insight into the impact of potential U.S. tariffs on Canada's banking sector and the regulatory environment for foreign banks operating in the country.

"U.S. banks have been in Canada for a long time and will continue to be here," said Scotchmer, noting that while the regulatory process is complex, the sector has remained stable. She added, "The procedure for applying for any kind of banking institution is very involved and long because Canada has generally been a pretty conservative banking regulatory environment."

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Gowling WLG's Financial Regulation Group provides strategic advice to financial institutions navigating Canada's regulatory landscape. Our team offers deep industry knowledge and practical guidance on compliance, licensing, and risk management to help clients operate with confidence in a complex regulatory environment. Learn more about Gowling WLG's Financial Regulation Group.