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.
Insights (10 Posts)View More
On September 6, 2023, OSFI issued a letter to industry outlining its steps to supervise emerging non-financial risks.
Remember, Remember, the 1st of November; Navigating the November 1st Deadline in the CDOR Transition and Term CORRA’s Launch
Navigating the November 1, 2023 Deadline in the CDOR Transition and Term CORRA’s Launch.
SEC Approves NYSE and NASDAQ Clawback Listing Standards – Assessing the Implications for Canadian Foreign Private Issuers
On June 9, 2023, the U.S. Securities and Exchange Commission approved the clawback listing standards of the New York Stock Exchange.
OSFI Calls for Stakeholder Feedback on Regulatory Capital and Liquidity Treatment of Crypto-asset Exposures
OSFI receiving feedback from banks and insurers about the Guidelines on Regulatory Capital and Liquidity Treatment of Crypto-asset Exposures.
Mervyn Allen, Partner at McMillan and Co-Leader of the firm's Commercial Real Estate Group, sits down with Deland Kamanga, Group Head of Wealth Management at the Bank of Montreal to discuss finance, diversity, and the future of the banking industry.
For the first time in over 40 years, Canada is making changes to the criminal interest rate.
All remaining tenors of USD LIBOR ceased being published on June 30, 2023; synthetic USD LIBOR and the LIBOR Act are available for legacy contracts.
The results are in: Canadians’ understanding of open banking is low, according to the Financial Consumer Agency of Canada (“FCAC”).
Realizing on real estate to enforce a court award is notoriously hard. A recent Ontario court decision has stymied creditors' efforts to fine-tune the process.
Government of Canada Seeks Input on Updating Canada’s Anti-Money Laundering and Terrorist Financing Regime
The Government of Canada has launched public consultations on updating Canada's anti-money laundering and terrorist financing regime.
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