Banking & Finance
BANKING & FINANCE
In recent years, national regulators have imposed new regulations on the banking sector to secure their financial health and protect the interests of investors and customers. But these new frameworks make the business of banking more complex, causing institutions to re-assess their business models and pivot to address new challenges and opportunities. McMillan LLP understands the dynamics of this continually evolving landscape and we advise Canadian and foreign banks, trust companies, and other financial services organizations on how to navigate regulations and bring new products and services to market.
McMillan’s banking and finance lawyers have deep industry knowledge and experience; we are committed to staying abreast of any and all changes to financial institution legislation. We understand the challenges and opportunities that these changes can bring and help our banking clients adapt to market dynamics. We advise clients on the necessary regulatory approvals or exemption orders in connection with their Canadian activities, and we have helped a number of foreign banks establish subsidiaries or branches in Canada.
McMillan professionals support our clients by advising on financial services legislation and regulatory regimes; assisting in dealings with regulatory authorities, including the Office of the Superintendent of Financial Institutions and provincial securities commissions; counselling clients on a full range of financing transactions; advising, planning and implementing merger and acquisition transactions; and advising on a wide range of capital markets transactions.
McMillan helps institutions respond swiftly to market shifts and regulatory changes in insurance, corporate and banking law, while meeting increasingly sophisticated customer needs and rivalling competitive manoeuvres.
McMillan finance, securities and insurance lawyers advise banks, insurance companies, investment dealers and other financial services companies anticipate regulation changes and position themselves for success. In this competitive industry, we tap in to our experience advising on insurance, banking, lending, personal property security, securities, tax and insolvency law to help clients thrive and minimize risk.
McMillan works closely with in-house legal counsel government bodies and regulators. We help clients minimize the risk of banking litigation. When unavoidable, our litigators are highly accomplished at effectively representing and protecting our clients’ interests to preserve reputation and shareholder value.
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Insights (10 Posts)View More
Consumer-Driven Banking is (almost) Here! Highlights from Budget 2024
On April 16, the Government of Canada released its 2024 budget which includes the promise of new legislation this spring to implement open banking in Canada.
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Apr 17, 2024
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Warning For Businesses: Companies Can be Liable for Tort of Bribery Even if They Did Not Intend to Pay or Receive a Bribe
Businesses with a duty to provide impartial advice must take steps to ensure the payments they make or receive are not later interpreted as bribes.
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Apr 12, 2024
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Administrative Monetary Penalties: Regulators “AMP-ing” up the Pressure on Businesses
Administrative Monetary Penalties are increasingly used to sanction regulatory non-compliance in Canada. What are they and what should you do if faced with one?
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Mar 19, 2024
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Two-Year Anniversary of Russia’s Illegal Invasion of Ukraine: New Sanctions Designations and Expansion of Export Prohibitions
To coincide with the two-year anniversary of Russia's invasion of Ukraine, Canada announced new sanctions and financial reporting obligations.
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Feb 28, 2024
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OSFI Unveils New Supervisory Framework (Effective April 2024)
OSFI announced the release of its new Supervisory Framework for FRFIs and private pension plans, touted to be the most significant change in 25 years.
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Feb 14, 2024
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FinTech: 2023 Legal Year in Review
The FinTech industry in Canada was impacted by significant regulatory developments in 2023. Explore the key updates in our year-in-review summary.
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Feb 7, 2024
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OSFI releases final Guideline on Integrity and Security
OSFI released the final Integrity and Security Guideline, setting out expectations for FRFIs for policies and procedures to protect against related threats.
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Feb 6, 2024
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A Focus on Alternative Investments in the Private Credit Market
McMillan and Bloomberg invite you to join us on Thursday, February 15th for a lunch seminar on the Canadian private credit market.
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Thursday, February 15, 2024
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The Great Rate Escape: Commercial Loans No Longer Criminal
The government of Canada has proposed changes to the criminal code which would exclude commercial and pawn loans from the criminal rate of interest.
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Jan 8, 2024
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Could it be True? Canada to Introduce Open Banking Legislation
On November 21, 2023, the Government of Canada released its 2023 Fall Economic Statement. The Economic Statement announced the federal government's intention.
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Nov 29, 2023
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