About the C.D. Howe Institute

The C.D. Howe Institute is an independent not-for-profit research institute whose mission is to raise living standards by fostering economically sound public policies. Widely considered to be Canada's most influential think tank, the Institute is a trusted source of essential policy intelligence, distinguished by research that is nonpartisan, evidence-based and subject to definitive expert review.

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Financial Services Research Initiative


The financial services sector would be a vital component of the Canadian economy if measured according to its output and employment alone. It is more than that, however, because the efficiency and effectiveness of the financial sector is critical to economy-wide performance. The financial sector constitutes the infrastructure of commerce; financial intermediation is also the mechanism that facilitates risk-sharing and risk mitigation, as well as regional and intertemporal exchange of financial assets and obligations. These factors warrant special attention to the policy influences on the financial sector’s performance.

The C.D. Howe Institute’s Financial Services Research Initiative is a multi-year program organized by the Institute to report and advise on financial sector policy. Its unique work program addresses the economic environment within which financial intermediation takes place, the regulatory environment, and the future of financial intermediation. The Initiative is informed by regular meetings of experts in the sector, policymakers and supporters engaged in the financial services sector, including financial intermediaries, securities market participants and their regulators, among others. The Initiative is chaired by Nicholas Le Pan, former Superintendent of Financial Institutions for Canada. The Initiative publishes research by prominent scholars from academia, associations, and the private and public sectors.


Nicholas Le Pan
Former Superintendent of Financial Institutions, Canada; Director, CIBC


Frank Chong
Acting Superintendent and CEO, Financial Institutions Commission B.C.
Gérald Cossette
Director, Financial Transactions and Reports Analysis Centre of Canada
David D’Amour
Director, Housing Finance Policy and Research, Canada Mortgage and Housing Corporation
Pascal Dessureault
Pascal Dessureault
Director, Communications and Public Affairs, Intact Financial
Chris Donnelly
VP & Counsel, Industry, Regulatory and Government Affairs, Manulife Financial
Don Forgeron
Don Forgeron
President and CEO, Insurance Bureau of Canada

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© 2014 C.D. Howe Institute. All Rights Reserved.

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© 2014 C.D. Howe Institute. All Rights Reserved.