Archives: Briefings

New law would put Bank of Canada in charge of fintech regulation

The federal government has drafted a law called the Retail Payments Activities Act that would put Canada’s central bank in charge of regulating tech companies that provide payments services, in addition to foreign payment providers operating in Canada. The law would not apply to financial-services companies that are already regulated by the government. (The Globe and Mail)

Telus spending another $54B on infrastructure, 5G expansion

The Vancouver-based telecommunications company said it will deploy the funding from now through 2024, creating 38,000 job opportunities over that period. It plans to make its 5G networks available to 529 new communities and expand its gigabit PureFibre network to over a million more customers by the end of this year. (The Logic)

Alphawave, backers seek US$1.1B in London IPO

The semiconductor company, founded in Toronto in 2017, is set to list its shares on the London Stock Exchange on May 14, according to documents viewed by Bloomberg. The shares are reportedly being priced between 375 and 430 pence. (Bloomberg)

BBTV gets into NFTs

The Vancouver-based business, which helps individuals and brands grow and make money from online content creation, is launching an NFT division. (The Logic)

‘A Little Late With Lilly Singh’ to end its NBC run on June 3

Singh said she’s leaving the show after two seasons to make longer-form content telling underrepresented stories, which she said was challenging in a late-night format. The Canadian comedian, who replaced Carson Daly, will reportedly star in an upcoming Netflix series. (Deadline)

Toronto council approves contentious deal with U.S. payments company

City councillors voted 17-8 in support of a digital-payments and -services partnership with Missouri-based PayIt. The company will build the city’s digital payments infrastructure, replacing a suite of disparate portals and allowing residents to pay for things like property taxes, parking tickets and water bills online or via a mobile app. City staff estimates the deal will cost approximately $22 million over five years and save taxpayers about $11 million over that period. (The Logic)

Brookfield’s car-battery company Clarios files confidentially for IPO

The Wisconsin-based firm, which claims it powers one in three of the world’s cars, announced Wednesday it filed a prospectus with the U.S. Securities and Exchange Commission. Clarios is backed by the Caisse de dépôt et placement du Québec and is a subsidiary of Brookfield Business Partners, which acquired Clarios for US$13.2 billion in April 2019. (The Logic)

Data on Tap asks for review of CRTC’s MVNO decision

The mobile virtual network operator is calling on Innovation Minister François-Philippe Champagne to overturn the Canadian Radio-television and Telecommunications Commission’s April decision, which stopped short of granting such firms unconditional access to the Big Three telecom companies’ wireless networks. (The Logic)