Close-up the financial figures on newspaper
Close-up the financial figures on newspaper
Close-up the financial figures on newspaper

The financial services industry is a complicated regulatory landscape. Financial services regulatory compliance requirements are continually imposed and rigorously enforced. Public demand for greater transparency and corporate accountability continues. Financial regulatory compliance obligations have never been so great, and the risks of non-compliance have never been so severe.

Consistently ensuring regulatory compliance can be overwhelming, costly and time-consuming for financial institutions. Responding to an inquiry or investigation by regulators is even more daunting. Engaging skilled legal counsel and developing effective compliance programs prevent such things from occurring, enabling you to remain focused on running your business.

McMillan’s Financial Services Group is made up of lawyers who understand the complexity and challenges of navigating the regulatory complexities of the financial services sector. When financial services clients engage us, we work with them to ensure their regular business operations comply with financial services law. First, we help them understand their regulatory obligations. Then, we work with them to strategically develop risk management and compliance systems that minimize the potential for regulatory breaches. If a client faces an investigation by a regulatory body, we prepare a comprehensive response.

McMillan professionals help its financial services clients remain in compliance by:

  • Advising domestic and foreign financial services businesses in connection with structuring, establishing and managing all types of financial services products
  • Representing them in connection with regulatory approvals, licences, permits and rulings
  • Conducting compliance reviews
  • Developing compliance policies and procedures
  • Advising boards of directors
  • Responding to regulator inquiries and, if necessary, representing them before regulatory bodies or the courts

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Darcy Ammerman

Partner, Banking & Finance | Insurance

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Insights (10 Posts)View More

Featured Insight

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Jun 13, 2024
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Goodbye CDOR, Hello CORRA: CDOR’s Final Month and CORRA Loan Trends

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Jun 11, 2024
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Far from being FARA – Canada’s Proposed Foreign Influence Transparency Registry Law Leaves the Details for Another Day

Canada's proposed foreign agent registry doesn't mirror the problematic aspects of FARA, but many details are left to future regulations and guidance.

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Understanding the Consumer-Driven Banking Framework: Key Insights from the Budget Implementation Act, 2024, No.1

On April 30, the federal government introduced the Budget Implementation Act, 2024, No. 1, which provides the legislative framework for open banking in Canada.

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Service Contracts Considered Automobile Insurance in British Columbia

The British Columbia Financial Services Authority issued a Regulatory Statement deeming service contracts to be automobile insurance, with no OEM exemption.

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Apr 30, 2024
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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
Featured Insight

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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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
Featured Insight

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
Featured Insight

Meeting FSRA’s Ongoing Licensing Suitability Requirements: What Life Insurance Agents, MGAs and Insurers Need to Know

FSRA published proposed guidance outlining how it interprets licensing suitability requirements under the Ontario Insurance Act and its regulations.

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Jan 31, 2024