416.865.7798
- Counsel to Comerica Bank in a connection with a large portfolio of loans to borrowers in the technology and life sciences sector
- Counsel to RBC Capital Partners in connection with a $23,000,000 subordinate debt credit facility to a borrower in the business of providing downhole wireline services
- Canadian counsel to JPMorgan in connection with a US$80,000,000 credit facility to a borrower specializing in energy efficiency solutions
- Counsel to Comerica Bank in connection with a syndicated credit facility provided to DragonWave Corporation
- Counsel to a large automotive finance counsel in connection with various unsecured loans from foreign and domestic lenders
- Canadian counsel to JPMorgan in connection with a US$195,000,000 credit facility to a borrower in the business of manufacturing current carrying wiring devices
Pat Forgione
He | Him
Language(s) Spoken
- English
Pat Forgione practises business law in the financial services industry, acting for domestic and foreign financial institutions on domestic and cross-border transactions. His expertise includes corporate and commercial financing, asset-based lending, syndicated lending, mezzanine financing, private equity and securitization. Pat has significant industry-specific knowledge in the automotive and technology sectors.
Financial institutions trust Pat’s counsel on the regulatory requirements relating to carrying on business in Canada, as well as ongoing compliance matters. His experience includes obtaining regulatory approvals for the establishment of operations in Canada by foreign banks, and ongoing regulatory capital requirements. Pat holds a certificate in regulatory compliance and legal risk management for financial institutions from Osgoode Hall.
Pat also works with automotive finance companies in connection with consumer finance matters, routinely providing advice on consumer protection relating to retail finance and leasing programs. He also counsels on the establishment and ongoing operation of wholesale dealer financing programs.
Expertise
Industries
Practices
Representative Matters
Speaking Engagements
Priorities, subordination agreements and Intercreditor agreements, Intensive Short Course in Secured Lending and Debt Finance, Osgoode Hall Law School
November 22-23, 2022 VIEW PRESENTATIONSecond Lien, Subordinated and Mezzanine Lending Presentation, Osgoode Hall Law School Intensive Short Course on Secured Lending
March 2012Second Lien, Subordinated and Mezzanine Lending Presentation, Osgoode Hall Law School Intensive Short Course on Secured Lending
March 2011News
Media mentions
- “Open banking could be coming to Canada. Here’s what you need to know,” CTV News (March 11. 2024)
Rankings & Recognitions
- Recognized in the 2025 Canadian Legal Lexpert Directory as a Repeatedly Recommended lawyer in the area of Banking & Financial Institutions
- Recognized by Best Lawyers in Canada (2025) as a leading lawyer in the area of Banking and Finance Law
- Recognized in the 2024 Canadian Legal Lexpert Directory as a Repeatedly Recommended Lawyer in the area of Banking & Financial Institutions
- Recognized by Best Lawyers in Canada (2024) as a leading lawyer in the area of Banking and Finance Law
Directorships & Affiliations
- Canadian Bar Association
- Turnaround Management Association
Education & Admissions
1997
Called to the Ontario bar
1995
LLBQueen's University
1991
BA (Honours)University of Toronto
Publications
- “Banking Regulation 2023, Tenth Edition, Canada,” Global Legal Group (March 2023)
- “Banking Regulation 2022, Ninth Edition, Canada“, Global Legal Group (March 2022)
- “Canada: Fintech 2020,” International Comparative Legal Guide ( June 2020)
- “Banking Regulation 2020 | Canada,” Global Legal Insights (May 2020)
- “Global Legal Insights: Banking Laws and Regulations 2020,” 9th edition (March 2020)
- “FinTech at the Crossroads: Regulating the Revolution,” Best Law Firms 2017 – 7th Edition (October 2016)
- “Banking Regulation – 3rd Edition,” Global Legal Insights (May 2016)
- “Banking Regulation 2016, Canada chapter,” Getting the Deal Through (2016)
- “Financial Services Bulletin,” National Banking Law Review
- “Canada Chapter,” Getting the Deal Through – Banking Regulation, 2014
- “New Obligations for Financial Entities Under Anti-Money Laundering and Anti-Terrorism Legislation in Canada,” Sean L. Cooke et Pat Forgione (February 2003)
- “Overview of the Financial Consumer Agency of Canada Act,” Co-Author, The Review of Banking and Financial Services (May 2002)
Insights (28 Posts)View More
Convertible Debentures and SAFEs: Advantages and Disadvantages for Startup Financing
Two common financing methods for start-ups and early-stage companies are convertible debentures and SAFEs. Each one has important advantages and disadvantages.
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Mar 11, 2025
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
Could it be True? Canada to Introduce Open Banking Legislation
On November 21, 2023, the Government of Canada released its 2023 Fall Economic Statement. The Economic Statement announced the federal government's intention.
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Nov 29, 2023
Canadians’ Awareness of Open Banking is Low – But Does it Matter?
The results are in: Canadians’ understanding of open banking is low, according to the Financial Consumer Agency of Canada (“FCAC”).
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Jun 29, 2023
Prepare for Regulation: Bank of Canada Introduces New Retail Payments Supervisory Framework
This bulletin provides an overview of the Bank of Canada’s new retail payments supervisory framework.
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Nov 17, 2022
The Road to Canada’s Open Banking Framework: Updates from the Working Group Meetings
Four working groups have been working to develop common rules, accreditation criteria, and technical standards for open banking in Canada.
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Nov 2, 2022
2020 Fintech Year in Review: Canadian Regulatory Developments
2020 Fintech Year in Review: Canadian Regulatory Developments
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Feb 10, 2021
Rules for Control of Electronic Chattel Paper – Ontario’s Push to Modernize the Personal Property Security Act
On Friday, May 15, 2020, the electronic chattel paper amendments to the Ontario PPSA finally came into force, nearly a year after receiving royal assent.
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May 18, 2020
Federal Government Relief Programs for Small and Medium Enterprises
Federal Government Relief Programs for Small and Medium Enterprises
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Apr 24, 2020
A Call to Action on Open Banking
On June 19, 2019, the Standing Senate Committee on Banking, Trade and Commerce (“the Committee”) published a report on open banking entitled Open Banking
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Jul 3, 2019
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
Banking Regulation 2018 – 5th Edition
global financial crisis has led to significant regulatory changes (most notably in the areas of liquidity and capital) designed to reduce the risk of another global financial crisis occurring
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Apr 24, 2018
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
Fintech at the Crossroads: Regulating the Revolution
Fintech at the Crossroads: Regulating the Revolution
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Oct 30, 2016
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
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
Updates to the Bail-In Regime: Depositor Accounts
Updates to the Bail-In Regime: Depositor Accounts
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May 12, 2016
Updates to the Bail-In Regime: Introduction of Bill C-15
Updates to the Bail-In Regime: Introduction of Bill C-15
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May 10, 2016
Budget 2016: Introduction of a Bail-in Regime
Budget 2016: Introduction of a Bail-in Regime
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Apr 5, 2016
OSFI Releases Draft Guideline on Application of IFRS 9 to Financial Instruments and Disclosure Obligations
Budget 2016: Reporting of Grandfathered New Home Sales
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Apr 1, 2016
OSFI releases guidelines in response to revised Pillar 3 disclosure requirements
OSFI releases guidelines in response to revised Pillar 3 disclosure requirements
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Mar 7, 2016
Getting the Deal Through – Banking Regulation 2015, Canada chapter
Getting the Deal Through - Banking Regulation 2015, Canada chapter
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Dec 23, 2015
OSFI Publishes Letter on Plans to Update Capital Requirements for Residential Mortgages
On December 11, 2015 OSFI released a letter notifying stakeholders that it is planning to update the regulatory capital requirements for residential mortgages and home equity lines of credit.
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Dec 21, 2015
OSFI Updates Financial Assessment Criteria for Composite Risk Rating
OSFI Updates Financial Assessment Criteria for Composite Risk Rating
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Dec 3, 2015
OSFI Publishes Draft of Revised Guideline for Minimum Capital Test for Federally Regulated Property and Casualty Insurance Companies
OSFI Publishes Draft of Revised Guideline for Minimum Capital Test For Federally Regulated Property and Casualty Insurance Companies
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Aug 26, 2015
Supreme Court of Canada upholds solicitor-client privilege settling a 15 year dispute
Supreme Court of Canada upholds solicitor-client privilege settling a 15 year dispute
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Feb 15, 2015
OSFI Issues Final Advisory for Early Adoption of IFRS 9 Financial Instruments for Domestic Systemically Important Banks
OSFI Issues Final Advisory for Early Adoption of IFRS 9 Financial Instruments for Domestic Systemically Important Banks
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Jan 15, 2015
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