Magnifying glass on financial report figures with network graphics
Magnifying glass on financial report figures with network graphics
Magnifying glass on financial report figures with network graphics

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

View All Contacts

Michael Burns

Partner, Investment Funds & Asset Management

Shahen A. Mirakian

Partner, Structured Finance, Derivatives & Securitization

Deals and Cases

Insights (44 Posts)

Featured Insight

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.

Read More
Jun 1, 2023
Featured Insight

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.

Read More
May 17, 2023
Featured Insight

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.

Read More
Mar 29, 2023
Featured Insight

Reporting Refreshed: Amendments Proposed to Harmonize Canadian Derivatives Reporting Rules

Canadian securities regulators propose changes to enhance derivatives data reporting.

Read More
Jul 12, 2022
Featured Insight

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.

Read More
Jun 21, 2022
Featured Insight

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.

Read More
Feb 9, 2022
Featured Insight

Mandatory Vaccination Policy: “Reasonable, Enforceable”

A labour arbitrator upheld an employer’s mandatory vaccination policy, finding the policy to be reasonable and enforceable.

Read More
Nov 11, 2021
Featured Insight

Marketing Cryptocurrency Platforms in Canada

McMillan comments on joint securities administrator and IIROC guidance on cryptocurrency platform marketing.

Read More
Oct 29, 2021
Featured Insight

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

Read More
Oct 25, 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.

Read More
Jul 7, 2021
Featured Insight

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.

Read More
Dec 17, 2020
Featured Insight

‘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

Read More
Nov 16, 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.

Read More
Aug 4, 2020
Featured Insight

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.

Read More
Mar 23, 2020
Featured Insight

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

Read More
Nov 19, 2019
Featured Insight

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.

Read More
May 10, 2019
Featured Insight

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.

Read More
May 28, 2018
Featured Insight

Introducing Liquid Alternatives: Game changer for Canadian hedge funds

Introducing Liquid Alternatives: Game changer for Canadian hedge funds

Read More
Nov 9, 2016
Featured Insight

Conduct Controlled: CSA Proposes Derivatives Business Conduct Rules

Conduct Controlled: CSA Proposes Derivatives Business Conduct Rules

Read More
Apr 26, 2016
Featured Insight

Early Warning Enhancements

Early Warning Enhancements

Read More
Mar 4, 2016
Featured Insight

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

Read More
Mar 3, 2016
Featured Insight

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

Read More
Mar 2, 2016
Featured Insight

Carrying the Tune: OSC Whistleblower Program Coming Soon

Carrying the Tune: OSC Whistleblower Program Coming Soon

Read More
Feb 24, 2016
Featured Insight

Approaching Harmonization: Reporting to Go Live Across Canada

Approaching Harmonization: Reporting to Go Live Across Canada

Read More
Feb 2, 2016
Featured Insight

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

Read More
Oct 28, 2015
Featured Insight

Shrink-wrapped: Why foreign issuers may still require a Canadian wrapper

Shrink-wrapped: Why foreign issuers may still require a Canadian wrapper

Read More
Sep 17, 2015
Featured Insight

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

Read More
Jun 30, 2015
Featured Insight

Certain Canadian Securities Regulators Adopt Crowdfunding Prospectus Exemption for Start-ups

Certain Canadian Securities Regulators Adopt Crowdfunding Prospectus Exemption for Start-ups

Read More
Jun 6, 2015
Featured Insight

Certain Canadian Securities Regulators Adopt Crowdfunding Prospectus Exemption for Start-ups

Certain Canadian Securities Regulators Adopt Crowdfunding Prospectus Exemption for Start-ups

Read More
Jun 6, 2015
Featured Insight

Certain Canadian Securities Regulators Adopt Crowdfunding Prospectus Exemption for Start-ups

Certain Canadian Securities Regulators Adopt Crowdfunding Prospectus Exemption for Start-ups

Read More
Jun 6, 2015
Featured Insight

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

Read More
May 20, 2015
Featured Insight

The Federal Budget: What Financial Institutions Need to Know

The Federal Budget: What Financial Institutions Need to Know

Read More
May 9, 2015
Featured Insight

IIROC Announces Priorities for Up Coming Year

IIROC Announces Priorities for Up Coming Year

Read More
Apr 30, 2015
Featured Insight

Confidentiality Protections Squashed by SEC

Confidentiality Protections Squashed by SEC

Read More
Apr 29, 2015
Featured Insight

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

Read More
Feb 24, 2015
Featured Insight

CSA Publishes Update on Proposal for Alternative Investment Funds

CSA Publishes Update on Proposal for Alternative Investment Funds

Read More
Feb 18, 2015
Featured Insight

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

Read More
Feb 4, 2015
Featured Insight

FINTRAC Releases Policy Interpretations Containing Guidance for International Dealers

FINTRAC Releases Policy Interpretations Containing Guidance for International Dealers

Read More
Jan 23, 2015
Featured Insight

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

Read More
Jan 23, 2015
Featured Insight

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

Read More
Jul 13, 2014
Featured Insight

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

Read More
Apr 24, 2014
Featured Insight

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

Read More
Nov 20, 2013
Featured Insight

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

Read More
Jun 14, 2013
Featured Insight

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

Read More
Jun 30, 2011