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The Canada Strong Fund — Invest Like the Government

  Published on MoneySavings.ca | Personal Finance | May 2026 Imagine being able to put your savings into the same fund the federal government is betting $25 billion on. For the first time in Canadian history, that's exactly what Ottawa is offering you — a front-row seat (and a direct stake) in the country's biggest nation-building push in generations. On April 28, 2026, Prime Minister Mark Carney announced Canada's first national sovereign wealth fund — the Canada Strong Fund. It's a bold, headline-grabbing idea: let everyday Canadians invest directly alongside the government in the ports, pipelines, mines, and infrastructure projects shaping our economic future. But before you start redirecting your TFSA contributions, let's break down exactly what this fund is, what it promises, what it costs — and whether it might belong in your financial plan. What Is the Canada Strong Fund? A sovereign wealth fund is a state-owned investment vehicle. Countries like Norw...
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TD Bank to face hefty penalty for faulty anti-money laundering controls

 

Canada’s TD Bank is expected to face a significant monetary penalty after an examination by the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) found faulty anti-money laundering controls. 

The penalty is expected to exceed C$10 million ($7.44 million), which could be the biggest ever penalty slapped on a Canadian financial institution by the country’s anti-money laundering agency. The examination was completed in late 2023, and TD Bank’s anti-money laundering compliance was deemed unsatisfactory. TD Bank has appointed new executives and advisers to head its anti-money laundering program and is improving its compliance efforts.

This is not the first time that FINTRAC has imposed penalties on Canadian financial institutions. Last month, the agency fined Royal Bank of Canada and CIBC for a total of about C$9 million for violations that included failing to submit suspicious transaction reports, the first time it has taken such action. TD Bank is also facing a rare probe and a likely fine by the U.S. Department of Justice related to its anti-money laundering practices, shortly after it called off its First Horizon acquisition.

The penalty imposed on TD Bank highlights the importance of financial institutions having robust anti-money laundering controls in place. The penalties imposed by FINTRAC serve as a warning to other financial institutions to ensure that their anti-money laundering programs are up to date and effective.


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