These are existing provisions already in the Bank Act that allow for financial institutions to act as agents with respect to financial services. These amendments clarify and modernize the fact that this agency relationship can happen without a financial institution having had to take a direct investment in a company.
Currently, the feedback we received from stakeholders is that it's not clear whether a financial institution will actually have to hold an investment in a company in order to act as an agent on their behalf, and we have clarified that it would not have to hold an investment in that company.