Pat Forgione 

Pat Forgione

Toronto
Brookfield Place, Suite 4400
181 Bay Street
Toronto, Ontario M5J 2T3

t: 416.865.7798
e: pat.forgione@mcmillan.ca

overview

Pat is a partner of McMillan in the firm's Financial Services Group. Pat practises in the business law area with a focus on corporate and commercial financing, asset-based lending, syndicated lending, mezzanine financing, private equity and securitization. Pat routinely acts for major financial institutions on domestic and cross-border transactions.

Pat regularly counsels domestic and foreign financial institutions on the regulatory requirements relating to carrying on business in Canada as well as ongoing compliance matters. Transactions include obtaining regulatory approvals in connection with the establishment of financial service operations in Canada by foreign banks and ongoing regulatory capital requirements. Pat recently obtained the Osgoode Certificate in Regulatory Compliance and Legal Risk Management for Financial Institutions.

Pat also works with auto finance companies in connection with consumer finance matters. Pat routinely provides advice in respect of consumer protection matters in connection with automotive retail finance and leasing programs. Pat also provides advice on the establishment and ongoing operation of wholesale dealer financing programs.

Representative Matters

  • Counsel to Comerica Bank in a connection with a large portfolio of loans to borrowers in the technology and life sciences sector
  • Counsel to RBC Capital Partners in connection with a $23,000,000 subordinate debt credit facility to a borrower in the business of providing downhole wireline services
  • Canadian counsel to JPMorgan in connection with a US$80,000,000 credit facility to a borrower specializing in energy efficiency solutions
  • Counsel to Comerica Bank in connection with a syndicated credit facility provided to DragonWave Corporation
  • Counsel to a large automotive finance counsel in connection with various unsecured loans from foreign and domestic lenders
  • Canadian counsel to JPMorgan in connection with a US$195,000,000 credit facility to a borrower in the business of manufacturing current carrying wiring devices

Presentations

Second Lien, Subordinated and Mezzanine Lending
Second Lien, Subordinated and Mezzanine Lending

Publications

A Call to Action on Open Banking
Banking Regulation 2019
Getting the Deal Through - Banking Regulation 2018
Banking Regulation 2018 - 5th Edition
Getting the Deal Through - Banking Regulation 2017
Banking Regulation - 4th Edition
OSFI Extends Implementation Date for Pillar 3 Disclosure Requirements
Fintech at the Crossroads: Regulating the Revolution
OSFI Publishes Letter regarding the Tightening of its Supervisory Expectations for Mortgage Underwriting
Updates to the Bail-In Regime: Depositor Accounts
Updates to the Bail-In Regime: Introduction of Bill C-15
Banking Regulation 2016, Canada chapter
Budget 2016: Introduction of a Bail-in Regime
OSFI Releases Draft Guideline on Application of IFRS 9 to Financial Instruments and Disclosure Obligations
OSFI releases guidelines in response to revised Pillar 3 disclosure requirements
OSFI Publishes Letter on Plans to Update Capital Requirements for Residential Mortgages
OSFI Updates Financial Assessment Criteria for Composite Risk Rating
OSFI Publishes Draft of Revised Guideline for Minimum Capital Test for Federally Regulated Property and Casualty Insurance Companies
Getting the Deal Through - Banking Regulation 2015, Canada chapter
Supreme Court of Canada upholds solicitor-client privilege settling a 15 year dispute
OSFI Issues Final Advisory for Early Adoption of IFRS 9 Financial Instruments for Domestic Systemically Important Banks
Supreme Court of Canada Holds that Some Provincial Consumer Protection Legislation Applies to Banks – Bank of Montreal v Marcotte
CDOR Update: Code of Conduct for Submitting Banks Released
Disclosure of Changes to the Board or Senior Management of Federally Regulated Financial Institutions (FRFIs)
OSFI – Draft Residential Mortgage Insurance Guideline – The Impact on Mortgage Lenders
OSFI's Progress on Basel III Implementation: The Liquidity Adequacy Requirements Guideline
Canada Chapter
OSFI releases cyber security self-assessment memorandum and guidance
Non-viable contingent capital requirements for financial institutions – An update
No April Fools' Joke: Motor Vehicle Dealers Act, 2002 Comes into Force on April 1, 2009
New Obligations for Financial Entities Under Anti-Money Laundering and Anti-Terrorism Legislation in Canada
Activities and Investments in Canada by Foreign Banks and Other Foreign Financial Services Companies
Overview of the Financial Consumer Agency of Canada Act

News

McMillan Lawyers Contributed to Five Practice Areas in the 2018 International Comparative Legal Guides (ICLG)
McMillan's Pat Forgione and Jeffrey Nagashima collaborate on ICLG's Fintech 2017 Report
Financial Services Group contribute chapter to the Getting the Deal Through – Banking Regulation 2015 Edition
Supreme Court of Canada Upholds Solicitor-Client Privilege, Settling a 15-Year Dispute

Education

  • Queen's University, LLB - 1995
  • University of Toronto, BA (Hons.) - 1991

Year Of Call

  • Called to the Ontario bar - 1997

Practices

secured lending and syndicated finance
fintech
regulatory compliance
private equity
structured finance, securitization and derivatives
financial services

Industries

banking, finance and insurance
private equity - buyouts & venture capital investment
automotive
automotive finance

Directorships and Professional Associations

  • Canadian Bar Association
  • Turnaround Management Association

Pat is a partner of McMillan in the firm's Financial Services Group. Pat practises in the business law area with a focus on corporate and commercial financing, asset-based lending, syndicated lending, mezzanine financing, private equity and securitization. Pat routinely acts for major financial institutions on domestic and cross-border transactions.

Pat regularly counsels domestic and foreign financial institutions on the regulatory requirements relating to carrying on business in Canada as well as ongoing compliance matters. Transactions include obtaining regulatory approvals in connection with the establishment of financial service operations in Canada by foreign banks and ongoing regulatory capital requirements. Pat recently obtained the Osgoode Certificate in Regulatory Compliance and Legal Risk Management for Financial Institutions.

Pat also works with auto finance companies in connection with consumer finance matters. Pat routinely provides advice in respect of consumer protection matters in connection with automotive retail finance and leasing programs. Pat also provides advice on the establishment and ongoing operation of wholesale dealer financing programs.

  • Counsel to Comerica Bank in a connection with a large portfolio of loans to borrowers in the technology and life sciences sector
  • Counsel to RBC Capital Partners in connection with a $23,000,000 subordinate debt credit facility to a borrower in the business of providing downhole wireline services
  • Canadian counsel to JPMorgan in connection with a US$80,000,000 credit facility to a borrower specializing in energy efficiency solutions
  • Counsel to Comerica Bank in connection with a syndicated credit facility provided to DragonWave Corporation
  • Counsel to a large automotive finance counsel in connection with various unsecured loans from foreign and domestic lenders
  • Canadian counsel to JPMorgan in connection with a US$195,000,000 credit facility to a borrower in the business of manufacturing current carrying wiring devices
July 2019
A Call to Action on Open Banking

Financial Services Bulletin

March 2019
Banking Regulation 2019

Global Insights 

April 2018
Banking Regulation 2018 - 5th Edition

Global Legal Insights

June 2017
Getting the Deal Through - Banking Regulation 2017

Law Business Research

June 22, 2017
Banking Regulation - 4th Edition

Global Legal Insights

October 2016
FinTech at the Crossroads: Regulating the Revolution

Best Law Firms 2017 - 7th Edition

July 2016
Fintech at the Crossroads: Regulating the Revolution
Financial Services Bulletin
July 2016
OSFI Publishes Letter regarding the Tightening of its Supervisory Expectations for Mortgage Underwriting
Financial Services and Financial Services Regulatory Bulletin
May 2016
Banking Regulation - 3rd Edition

Global Legal Insights

May 2016
Updates to the Bail-In Regime: Depositor Accounts
Financial Services Bulletin
May 2016
Updates to the Bail-In Regime: Introduction of Bill C-15
Financial Services Bulletin
2016
Banking Regulation 2016, Canada chapter

Getting the Deal Through

April 2016
Budget 2016: Introduction of a Bail-in Regime
Financial Services Bulletin
June 2014
CDOR Update: Code of Conduct for Submitting Banks Released
Financial Services Bulletin
2014
Canada Chapter
Getting the Deal Through - Banking Regulation 2014
Reproduced with permission from Law Business Research Ltd. This article was first published in Getting the Deal Through – Banking Regulation 2014, (published in April 2014; contributing editor: David E Shapiro of Wachtell, Lipton, Rosen & Katz )
For further information please visit
www.GettingTheDealThrough.com
February 2003
New Obligations for Financial Entities Under Anti-Money Laundering and Anti-Terrorism Legislation in Canada
Banks and others in the financial services sector in Canada have new reporting, record keeping and client identification obligations...
May 2002
Overview of the Financial Consumer Agency of Canada Act
Co-Author, The Review of Banking and Financial Services
March 2012
Second Lien, Subordinated and Mezzanine Lending
Presentation, Osgoode Hall Law School Intensive Short Course on Secured Lending
March 2011
Second Lien, Subordinated and Mezzanine Lending
Presentation, Osgoode Hall Law School Intensive Short Course on Secured Lending