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

Primary Contacts

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Darcy Ammerman
Partner, Financial Services | Banking & Finance | Insurance

Deals and Cases

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INSIGHTS (40 Posts)

Featured Insight

Changes on the Menu – 2nd Course: Canadian Food Inspection Agency Updates Implementation Plan for Food Labelling Rules

This Bulletin covers the Canadian Food Inspection Agency's Implementation Plan for Updates to Food Labelling Rules.

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Sep 29, 2021
Featured Insight

SOFR Fundamentals: What We Know SO-FAR

SOFR is the preferred USD alternative RFR to LIBOR. We discuss what SOFR is, the types of SOFR, conventions for SOFR, and using SOFR in loan agreements.

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Jul 21, 2021
Featured Insight

Canadian Regulatory Direction and Pressure for Cryptocurrency Platforms

Canadian regulators affirm their position on 'crypto trading platforms' through CSA Staff Notice 21-329 and subsequent enforcement action.

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Jul 7, 2021
Featured Insight

OSFI Issues Final Guideline E-4 Impacting Foreign Entity Branches to be Implemented by January, 2022

OSFI releases final Guideline E-4 for Foreign Entity Branches replacing existing Guideline E-4A and E-4B.

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Jul 6, 2021
Featured Insight

Greening Canadian Borders – Canada Considers Border Carbon Adjustments for Carbon-Intensive Imports

Border Carbon Adjustments are being explored by various countries including Canada in its 2021 Budget to support climate change initiatives.

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Jul 6, 2021
Featured Insight

An International Overview of Existing Climate-Related Insurance Initiatives: Finding the Right Path for Canada

Part of our ESG initiative, this article summarizes existing climate-related insurance initiatives and suggests programs that may be most successful in Canada.

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Jun 30, 2021
Featured Insight

Who is Caught by Canada’s New Retail Payment Systems Regulation?

Canada's proposed retail payments systems regulatory regime requires payments service providers to be registered. Who exactly is a payments service provider?

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May 31, 2021
Featured Insight

Charging Ahead: Alberta and Saskatchewan Joining Forces with Ontario and New Brunswick on Small Modular Reactors

Update on developments in nuclear energy and small modular nuclear reactors in Canada, including the memorandum of understanding that was recently signed.

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May 26, 2021
Featured Insight

The Canadian Capital Market is Psyched: An Update on the Growing Wave in the Psychedelics Industry

This bulletin provides an overview of the regulations surrounding psychedelics in Canada and psychedelics companies in the Canadian capital markets.

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May 12, 2021
Featured Insight

Federal Procurement Complaints: CITT Passes Milestone in 2020/2021

A review of the Canadian International Trade Tribunal (CITT) procurement review mandate for 2020/2021.

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Apr 19, 2021
Featured Insight

Upcoming Changes to Ontario’s Auto Insurance Regime

The regulation of Ontario’s auto insurance market may undergo several key changes to enhance consumer protection and foster greater competition and innovation.

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Apr 12, 2021
Featured Insight

Canada’s Federal Greenhouse Gas Offset Credit System Creates Green Incentives for Regulated Facilities

Publication of Greenhouse Gas Offset Credit System Regulations under section 195 of the Greenhouse Gas Pollution Pricing Act.

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Apr 7, 2021
Featured Insight

OSFI Announces Proposed Amendments to the Vested Asset Regime for Foreign Insurance Companies Operating in Canada on a Branch Basis

The authors discuss OSFI's announcement of three proposed amendments to the vested asset regime for foreign insurance companies operating as a branch in Canada

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Apr 6, 2021
Featured Insight

FCAC’s Submission on Open Banking: Finding the Right Balance to Achieve Consumer Protection and Broad Financial Sector Participation

The authors discuss the Financial Consumer Agency of Canada's submission to the Advisory Committee on Open Banking.

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Mar 30, 2021
Featured Insight

LIBOR Newsflash: FCA Announces Dates for Official Cessation and Loss of Representativeness of LIBOR

FCA announces dates for the official cessation and loss of representativeness of LIBOR. Implications for Lenders.

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Mar 10, 2021
Featured Insight

Canada Updates Official Terrorist Entities List – What It Means for Your Business

The Canadian government has placed the Proud boys on the list of terrorist entities. This announcement has certain key implications for Canadian companies.

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Feb 23, 2021
Featured Insight

2020 Fintech Year in Review: Canadian Regulatory Developments

2020 Fintech Year in Review: Canadian Regulatory Developments

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Feb 10, 2021
Featured Insight

Canadian Banks, BDC and OSFI work together for a seamless launch of the new Highly Affected Sectors Credit Availability Program (HASCAP)

OSFI provides guidance for the capital treatment of loans and BDC guarantees under the new Highly Affected Sectors Credit Availability Program (HASCAP)

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Feb 2, 2021
Featured Insight

Expropriation of Contaminated Land and its Fair Market Valuation

Expropriation of Contaminated Land and its Fair Market Valuation

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Oct 5, 2020
Featured Insight

New Rules for Alberta’s Local Elections

Discussion of government of Alberta's Bill 29: Local Authorities Election Amendment Act, which came into force September 1, 2020

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Sep 10, 2020
Featured Insight

Alberta’s New Liability Management Framework: A Teaser of What’s Coming

Government of Alberta announces changes to the regulatory regime that governs oil and gas liabilities.

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Aug 4, 2020
Featured Insight

Alberta Government Passes Bill 12, Liabilities Management Statutes Amendment Act, 2020 – What You Need to Know

What you need to know about the Alberta Government's Bill 12 in relation to Liabilities Management Statutes Amendment Act, 2020.

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Apr 21, 2020
Featured Insight

Pivoting Production to Address COVID-19 Shortages – What Manufacturers and Distributors Need to Know

Summary of Health Canada pathways for accelerated approvals, business and liability considerations for manufacturers

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Apr 7, 2020
Featured Insight

COVID-19: New Emergency Rules for Operating Businesses in BC: How to Comply with BC’s “Essential Business” and Public Health Orders

This bulletin discusses how to keep your business open by complying with BC government emergency orders and public health orders during the COVID-19 pandemic.

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Mar 27, 2020
Featured Insight

Does Your Business Interruption Insurance Cover You for COVID-19?

The COVID-19 pandemic is not yet contained and while governments struggle to respond, businesses are bracing for the inevitable economic downturn.

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Mar 23, 2020
Featured Insight

New Linguistic Obligations for Employers Doing Business in Québec?

A Bill amending the Charter of the French Language would create new linguistic obligations for employers if it were enacted.

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Mar 9, 2020
Featured Insight

Saskatchewan’s New Year’s Resolution? A New Insurance Act to Ring in the New Year

On January 1, 2020, The Insurance Act (“New Act”) and The Insurance Regulations (“New Regulations”) came into force in Saskatchewan, marking the first major overhaul to Saskatchewan’s insurance legislation in decades

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Feb 27, 2020
Featured Insight

The Court of Appeal puts an End to ‘Jail on the Couch’ Sentences for Bid-rigging

Bid rigging and fraud in order to obtain public contracts will result in mandatory prison sentences when the contract is of high value.

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Nov 30, 2018
Featured Insight

OSFI’s Revised Corporate Governance Guideline Goes Live

On September 18, 2018 the Office of the Superintendent of Financial Institutions issued the final version of its Corporate Governance Guideline

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Oct 3, 2018
Featured Insight

Adoption of financial sector reform goes ahead in Québec, but government backtracks on certain proposed changes in the insurance sector

As a result of the adoption of the Financial Sector Reform Act, several key pieces of legislation are amended or replaced entirely.

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Sep 5, 2018
Featured Insight

Getting the Deal Through – Banking Regulation 2018

The Canada chapter in Getting the Deal Through - Banking Regulation 2018 provides an overview of the regulations governing the banking industry in Canada

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Jun 1, 2018
Featured Insight

CSA Release Oversight Review Report of the MFDA

CSA Releases Oversight Review Report of the MFDA

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Oct 10, 2017
Featured Insight

Getting the Deal Through – Banking Regulation 2017

Canada has a centrally regulated banking system with a focus on macroprudential regulation and stability of the financial system ...

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Jun 27, 2017
Featured Insight

Change is in the Airwaves: CRTC Expands the Wireless Code of Conduct

Change is in the Airwaves: CRTC Expands the Wireless Code of Conduct

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Jun 20, 2017
Featured Insight

CASL Private Right of Action Delayed; Enforcement by CRTC Continues

CASL Private Right of Action Delayed; Enforcement by CRTC Continues

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Jun 7, 2017
Featured Insight

Labels, Endorsements, and Scientific Proof: A New Approach to Self-Care Products in Canada

Labels, Endorsements, and Scientific Proof: A New Approach to Self-Care Products in Canada

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Sep 28, 2016
Featured Insight

OSFI Extends Implementation Date for Pillar 3 Disclosure Requirements

OSFI Extends Implementation Date for Pillar 3 Disclosure Requirements

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Aug 31, 2016
Featured Insight

OSFI’s Final Guideline on ORM is Less Prescriptive and Levels the Playing Field

OSFIs Final Guideline on ORM is Less Prescriptive and Levels the Playing Field

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Jul 14, 2016
Featured Insight

OSFI Publishes Letter regarding the Tightening of its Supervisory Expectations for Mortgage Underwriting

OSFI Publishes Letter regarding the Tightening of its Supervisory Expectations for Mortgage Underwriting

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Jul 13, 2016
Featured Insight

Conduct Controlled: CSA Proposes Derivatives Business Conduct Rules

Conduct Controlled: CSA Proposes Derivatives Business Conduct Rules

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Apr 26, 2016