Canada’s Auditor General says CRA agents gave accurate tax advice only 17% of the time. Tax lawyer warns Canadians can’t rely on CRA’s hotline, while critics call for urgent tax code reform.

SIMA reports strong September gains for Canada’s mutual funds and ETFs. Total mutual fund assets reached $2.489T, while ETF net sales surpassed all of 2024, setting a new record.

FINTRAC fined crypto exchange Cryptomus $177 million for failing to report over 1,000 suspicious transactions tied to Iran, darknet markets, and child exploitation — the biggest AML fine in Canadian history.

Canada’s Auditor General found CRA call centres gave correct answers only 17% of the time for personal tax questions. The agency plans AI chatbot expansion under a 100-day improvement plan.

Moody’s says major U.S. banks delivered solid third-quarter earnings driven by capital-markets revenues, stable asset quality, and positive credit trends, though capital ratios may ease as rules loosen.

Canada’s annual inflation rate jumped to 2.4% in September, primarily due to a smaller decline in gasoline prices and higher grocery costs, ahead of the Bank of Canada’s rate decision.

Analysts forecast Canada’s annual inflation to climb to 2.2% in September, led by rising gas prices. The Bank of Canada could deliver another rate cut at its October 29 meeting if core inflation remains stable.

Amazon Web Services suffered a massive global outage, disabling Snapchat, Reddit, Coinbase, and more. Experts warn of growing risks from the internet’s dependence on a few cloud giants.

Scotiabank confirms new layoffs in its Canadian banking unit despite stronger Q3 earnings and a 12.4% ROE. The move aligns with CEO Scott Thomson’s long-term cost optimization and digital growth strategy.

C.D. Howe’s call for deregulation misses the point — Canada’s financial sector needs smarter oversight. SupTech can reduce costs, prevent misconduct, and strengthen consumer protection.