Episode 68: What Are 3 Things Canadians Should Know About AI Regulations & Security?

Part of our Finance Forward series.

Published May 18, 2026

Artificial intelligence is changing the financial world — but innovation also brings important questions around privacy, trust, and security.

In this episode of Finance Forward, Darren Devine, Financial Planner with Sun Life and President of Devine & Associates, explores how Canada is approaching artificial intelligence regulation and why security and accountability matter in financial services.

As AI becomes more integrated into banking, investing, and financial planning, Canadians are asking important questions:
→ How is my personal information protected?
→ Who is responsible when AI tools are used?
→ What rules are in place to ensure these technologies are safe and transparent?

As AI tools become more common, transparency and human oversight remain essential — especially in relationship-driven industries like financial planning.

The goal of AI regulation isn’t to stop innovation. It’s to help ensure these technologies are used safely, responsibly, and in ways that protect consumers.

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What are 3 Things Canadians Should Know About AI Regulations & Security?

Presented by Darren Devine, CFP®, CLU®, Financial Planner, Sun Life and President of Devine and Associates Financial Services Inc.

AI is moving fast — and so are concerns about privacy, ethics and security.

Today’s episode is part of our ‘Finance Forward’ series, helping you navigate the AI economy. I’m Darren Devine, Financial Planner with Sun Life and President of Devine & Associates. For over 20 years, I’ve been helping families across Ontario plan with confidence, protect what matters most and stay grounded through economic shifts.

Let’s look at the 3 things Canadians should know about AI regulations and how they affect your financial future.

1. Canada is building guardrails

Canada recently launched the AI Safety Institute and introduced the Artificial Intelligence and Data Act. These steps are designed to make sure AI is safe, fair, and transparent. In short, Ottawa is setting rules so technology doesn’t run ahead of responsibility.

(ISED)

2. Your data must be protected

When AI tools are used in banking or financial planning, regulators like OSFI (the Office of the Superintendent of Financial Institutions) and the Financial Consumer Agency are clear: your personal information must be secure, private and never misused. That means encryption, oversight and strong governance around how your data is handled.

(OSFI)

3. Trust and Accountability Come First

In financial planning, trust is everything. That’s why we only use tools that meet or exceed these new standards. We prioritize privacy, explainability and accountability — so you can feel confident that AI works for you, not against you.

(OSFI)

AI isn’t going away — but Canada is making sure it’s safe and responsible. Want clarity on what these changes mean for your financial plan? Let’s talk.

Thanks for tuning into Finance Forward. Don’t forget to like and comment for more episodes filled with tips to help make your financial journey a breeze. Until next time, I'm Darren Devine, and you can always talk to us today at DevineAndAssociates.ca!

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