It still concerns the same issue.
It's good to have a modern regime for open data and open banking. I would even say that it's about time that Canada had one. We can't always drag our feet or lag behind.
However, when it comes to bank regulation and modern finance, we need to consider a number of details. As I said, when people use an intermediary to do business with their bank or to obtain products regulated by the Bank Act, for example, this intermediary is often subject to provincial consumer protection legislation.
I'll explain the basic purpose of this amendment. I can also tell you right now that this concerns the general intent of amendments BQ‑10 and BQ‑11. I'll speak only once for these two amendments.
With these amendments, we want to remove technology companies that aren't federally regulated, because they aren't banks. The idea is to facilitate the implementation of the open data and open banking framework. I repeat, the Quebec government feels very strongly about these amendments, both in terms of the content and the form. Without these amendments, clearly jurisdictional challenges will go all the way to the Supreme Court. This won't help the development of the open data and open banking framework. These two amendments provide clarification.
This even goes so far as to protect the provincial financial institutions. I'll give you an example. Our friends in Alberta will be happy to hear it. ATB Financial is a financial institution, but it's also a branch of the Alberta government. Under the legislation currently proposed in the bill, the federal government will be regulating a branch of the Alberta government. We need to clarify this. I think that this will pave the way for a smoother rollout of the new framework.