


Structured Finance, Derivatives & Securitization
In today’s global markets, financial institutions and other businesses are on the look-out for new ways to reduce financing costs and mitigate risk. Finance professionals develop complex financial instruments and structures, involving new hedging and investment strategies, financing alternatives and balance sheet enhancement opportunities.
McMillan’s Financial Services Group is a recognized leader in developing and structuring sophisticated financial instruments. We regularly advise sellers, multi- and single-seller conduit sponsors, special-purpose vehicles, servicers, credit enhancers, liquidity providers and rating agencies on the derivatives laws that govern domestic and cross-border securitization structures including asset-backed commercial paper conduits, public and privately placed term transactions and concurrent leases.
McMillan lawyers use their in-depth knowledge of financial services law to help clients advance structured finance transactions through a consistently changing regulatory landscape. We have extensive Canadian and international experience in structuring and implementing domestic and cross-border, over the counter (OTC) and exchange-traded derivatives transactions and advising clients on OTC and exchange-traded derivatives regulation, taxation and documentation.
Our lawyers are active in all aspects of the domestic and cross-border securitization markets. As financial products continue to evolve and the regulatory environment for derivatives becomes increasingly complex, we keep pace with the rapidly changing industry to ensure we are consistently providing practical and innovative advice to our clients.
McMillan professionals help clients lead by:
- Structuring and implementing assets such as residential and commercial mortgages, trade receivables, government receivables, credit cards, automobile and equipment loans and leases, and personal lines of credit
- Structuring and implementing OTC and exchange-traded derivatives
- Establishing a variety of securitization structures, including asset-backed commercial paper conduits, term transactions and concurrent leases
Primary Contacts
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Insights (44 Posts)
Secured Lending in Canada: A Guide for U.S. Lenders
A guide to secured lending in Canada; summarizes regulatory matters, tax, security, insolvency and restructuring issues in Canada.
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Jun 1, 2023
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Registration Roundup: The Development of Securities Regulation of Crypto Trading Platforms (CTPs) in Canada
The Canadian Securities Administrators have continued to develop the securities regulatory framework applicable to crypto trading platforms.
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May 17, 2023
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Canada’s Budget 2023: Compromise and Competition – Climate, Carbon and CCfDs
An update on Canada’s Budget 2023 and the future of carbon contracts for differences (CCfDs) in Canada.
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Mar 29, 2023
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Reporting Refreshed: Amendments Proposed to Harmonize Canadian Derivatives Reporting Rules
Canadian securities regulators propose changes to enhance derivatives data reporting.
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Jul 12, 2022
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June 28, 2024 – CDOR will be no more
CDOR to cease being published after June 28, 2024; Term CORRA to be potentially created; market participants need to prepare for end of CDOR now.
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Jun 21, 2022
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Conduct Completed? CSA Publishes Third Draft of Derivatives Business Conduct Rule
Analysis of the Third Draft of Proposed National Instrument 93-101 Derivatives: Business Conduct.
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Feb 9, 2022
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Mandatory Vaccination Policy: “Reasonable, Enforceable”
A labour arbitrator upheld an employer’s mandatory vaccination policy, finding the policy to be reasonable and enforceable.
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Nov 11, 2021
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Marketing Cryptocurrency Platforms in Canada
McMillan comments on joint securities administrator and IIROC guidance on cryptocurrency platform marketing.
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Oct 29, 2021
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CSA Propose Standardized and Reinforced Climate-Related Disclosure — Primer on Proposed National Instrument NI 51-107 Disclosure of Climate-related Matters
McMillan Bulletin Proposed National Instrument 51-107 Disclosure of Climate-related Matters Canadian Securities Administrators Climate Change Disclosure
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Oct 25, 2021
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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
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The Cessation of the 6-month and 12-month CDOR Tenors
Refinitiv announced that the calculation and publication of the 6-month and 12-month tenors of CDOR would cease indefinitely effective as of May 17, 2021.
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Dec 17, 2020
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‘But to What Effect?’ The Supreme Court of Canada Clarifies the Anti-deprivation Rule in Chandos
The authors discussion of the Supreme Court of Canada's decision in Chandos Construction affirming the anti-deprivation rule and consider its implications
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Nov 16, 2020
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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
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Unbearable Lite-ness: Lenders’ Remedies in the Age of Missing Covenants
The author discusses the recent trend toward borrower-friendly loan documents and the remedies available to lenders in Canada.
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Mar 23, 2020
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Amendments to the CCAA, BIA and CBCA Now in Force
Authors discuss changes in 2019 to Canadian corporate and restructuring statutes and their possible implications for insolvency practice in Canada
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Nov 19, 2019
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Canadian Corporate & Restructuring Legislation: Changes Could be on the Way
Bill C-97 (the “Bill”) was introduced in Parliament to implement the federal budget tabled by the Liberal government on March 19, 2019.
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May 10, 2019
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Proposed CSA Derivatives Registration Rule Part 1 – Who Must Register
On April 19, 2018, the Canadian Securities Administrators (the "CSA") published new draft rules governing the registration of derivatives market participants.
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May 28, 2018
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Introducing Liquid Alternatives: Game changer for Canadian hedge funds
Introducing Liquid Alternatives: Game changer for Canadian hedge funds
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Nov 9, 2016
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Conduct Controlled: CSA Proposes Derivatives Business Conduct Rules
Conduct Controlled: CSA Proposes Derivatives Business Conduct Rules
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Apr 26, 2016
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For The Times They Are A-Changin: Canadian Regulators Adopt Fundamental Changes to the Take-over Bid Regime
For The Times They Are A-Changin: Canadian Regulators Adopt Fundamental Changes to the Take-over Bid Regime
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Mar 3, 2016
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Time to Make it Clear, Part III: CSA Republishes Notice and Request for Comments on Proposed Rules for Mandatory Central Counterparty Clearing of OTC Derivatives
Time to Make it Clear, Part III: CSA Republishes Notice and Request for Comments on Proposed Rules for Mandatory Central Counterparty Clearing of OTC Derivatives
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Mar 2, 2016
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Carrying the Tune: OSC Whistleblower Program Coming Soon
Carrying the Tune: OSC Whistleblower Program Coming Soon
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Feb 24, 2016
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Approaching Harmonization: Reporting to Go Live Across Canada
Approaching Harmonization: Reporting to Go Live Across Canada
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Feb 2, 2016
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Mind Your Margin: OSFI Releases Draft Guideline on Margin Requirements for Non-Centrally Cleared Derivatives
Mind Your Margin: OSFI Releases Draft Guideline on Margin Requirements for Non-Centrally Cleared Derivatives
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Oct 28, 2015
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Shrink-wrapped: Why foreign issuers may still require a Canadian wrapper
Shrink-wrapped: Why foreign issuers may still require a Canadian wrapper
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Sep 17, 2015
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SPACs, The “New” Private Equity Vehicle in Canada – An Asset Class of $800M and Growing
SPACs, The "New" Private Equity Vehicle in Canada – An Asset Class of $800M and Growing
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Jun 30, 2015
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Certain Canadian Securities Regulators Adopt Crowdfunding Prospectus Exemption for Start-ups
Certain Canadian Securities Regulators Adopt Crowdfunding Prospectus Exemption for Start-ups
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Jun 6, 2015
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Certain Canadian Securities Regulators Adopt Crowdfunding Prospectus Exemption for Start-ups
Certain Canadian Securities Regulators Adopt Crowdfunding Prospectus Exemption for Start-ups
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Jun 6, 2015
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Certain Canadian Securities Regulators Adopt Crowdfunding Prospectus Exemption for Start-ups
Certain Canadian Securities Regulators Adopt Crowdfunding Prospectus Exemption for Start-ups
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Jun 6, 2015
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British Columbia Securities Commission Seeks to Limit Exercise of Public Interest Power in the Enforcement Context
British Columbia Securities Commission Seeks to Limit Exercise of Public Interest Power in the Enforcement Context
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May 20, 2015
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The Federal Budget: What Financial Institutions Need to Know
The Federal Budget: What Financial Institutions Need to Know
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May 9, 2015
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IIROC Announces Priorities for Up Coming Year
IIROC Announces Priorities for Up Coming Year
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Apr 30, 2015
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Confidentiality Protections Squashed by SEC
Confidentiality Protections Squashed by SEC
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Apr 29, 2015
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CSA Adopts Amendments to Accredited Investor and Minimum Amount Investment Prospectus Exemptions Managed Accounts are now Accredited Investors for Investment Funds in Ontario
CSA Adopts Amendments to Accredited Investor and Minimum Amount Investment Prospectus Exemptions
Managed Accounts are now Accredited Investors for Investment Funds in Ontario
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Feb 24, 2015
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CSA Publishes Update on Proposal for Alternative Investment Funds
CSA Publishes Update on Proposal for Alternative Investment Funds
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Feb 18, 2015
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Different But The Same: Five Additional Provinces Propose OTC Derivatives Trade Reporting Rules
Different But The Same: Five Additional Provinces Propose OTC Derivatives Trade Reporting Rules
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Feb 4, 2015
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FINTRAC Releases Policy Interpretations Containing Guidance for International Dealers
FINTRAC Releases Policy Interpretations Containing Guidance for International Dealers
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Jan 23, 2015
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TSX Proposes New Listing Requirements for Exchange Traded Products, Closed-End Funds and Structured Products
TSX Proposes New Listing Requirements for Exchange Traded Products, Closed-End Funds and Structured Products
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Jan 23, 2015
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More Amendments, Less Harmony?: Canadian Regulators Propose Amendments to OTC Derivatives Trade Reporting Rules
More Amendments, Less Harmony?: Canadian Regulators Propose Amendments to OTC Derivatives Trade Reporting Rules
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Jul 13, 2014
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Canadian Regulators Respond to Concerns of OTC Derivatives Market Participants: OSC Makes Amendments to Trade Reporting Rules
Canadian Regulators Respond to Concerns of OTC Derivatives Market Participants: OSC Makes Amendments to Trade Reporting Rules
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Apr 24, 2014
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The last word on reporting: final Ontario rules with respect to trade reporting released
The last word on reporting: final Ontario rules with respect to trade reporting released
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Nov 20, 2013
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Updating to a newer model: CSA derivatives committee revisits model rules for OTC derivatives determination, trade repositories and reporting
Updating to a newer model: CSA derivatives committee revisits model rules for OTC derivatives determination, trade repositories and reporting
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Jun 14, 2013
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Reporting for duty: Canadian regulators publish framework for OTC derivatives trade reporting and repositories
Reporting for duty: Canadian regulators publish framework for OTC derivatives trade reporting and repositories
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Jun 30, 2011
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