Canada: Financial Services

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Finance law and banking law thought leadership, articles, podcasts, videos and webinars from expert sources across the legal world. Explore insights covering topics such as capital adequacy, BASEL, acquisition finance, debt capital markets, fund finance, islamic finance, securitization and structured finance.
Article
Consultation Publique Sur Le Projet De Règlement Visant La Fraude Ciblant Les Consommateurs Dans Le Système Bancaire
Le ministère des Finances du Canada a publié un projet de règlement qui modifierait le Règlement sur le régime de protection des consommateurs en matière financière en vertu de la Loi sur les banques pour lutter contre la fraude ciblant les consommateurs. Ce projet établit des exigences opérationnelles détaillées concernant les fonctionnalités de compte, les mécanismes de consentement, les limites de transaction et les obligations de divulgati
Canada Finance
BC
Blake, Cassels & Graydon LLP
Article
One Step Closer To Harmonization: CIRO's Proposed Incorporated Approved Person Compensation Model
The Canadian Investment Regulatory Organization (CIRO) has published rule amendments to harmonize advisor compensation (the Amendments). Following CIRO’s 2024 position paper that consulted on three potential regulatory approaches to allow payment of advisor compensation to advisor-owned corporations for all CIRO-regulated dealer members (Dealers), the Amendments propose to adopt the Incorporated Approved Person compensation option.
Canada Finance
BL
Borden Ladner Gervais LLP
Article
Drop It Like It’s Debt: A Canadian Guide To Liability Management Exercises – Part I
Liability management exercises (LMEs) enable borrowers to restructure debt outside formal insolvency proceedings by exploiting flexible loan documentation. As Canadian companies increasingly access U.S. debt markets with permissive covenant packages, understanding drop-down, uptiering, and double-dip structures becomes essential for lenders seeking to protect their interests.
Canada Finance
ML
McMillan LLP
Article
OSFI Modernizes Approval Framework For Certain New Entrants
The Office of the Superintendent of Financial Institutions has introduced a streamlined approvals framework that offers a faster, more predictable pathway for certain applicants to become federally regulated financial institutions. This new process allows eligible entities to enter the federal regime earlier without lengthy pre-licensing remediation, as long as risks can be properly assessed and mitigated from the start.
Canada Finance
GL
Goodmans LLP
Article
At The Crossroads: Proposed Amendments Regarding Insider Reporting Requirements
Earlier this spring, the Canadian Securities Administrators (CSA) proposed amendments to certain exemptions from insider reporting found in National Instrument 55-104 Insider Reporting Requirements and Exemptions (NI 55-104). The amendments are intended to clarify that the insider reporting regime applies to certain transactions involving investment funds and structured products, like structured notes and Canadian Depositary Receipts, that are based on securities of a reporting issuer.
Canada Commercial
BL
Borden Ladner Gervais LLP
Article
Looking Down The Road: The CSA Proposes Amendments To The Issuer Bid, Take-Over Bid And Early Warning Reporting Regimes
On May 14, 2026, the Canadian Securities Administrators (CSA) proposed changes to a number of rules to provide issuers with greater flexibility to repurchase their own securities, enhance transparency of ownership of derivative interests in specified circumstances and enhance the integrity of the issuer bid, take-over bid and early warning reporting regimes.
Canada Finance
BL
Borden Ladner Gervais LLP
Article
Canada’s Real-Time Rail Moves Closer To Launch: RTR By-law Officially Published
Canada's Real-Time Rail system reaches a pivotal milestone with the publication of By-law No. 10, establishing the legal framework for instant payments and broader access to national payment infrastructure. The new framework introduces direct and indirect participation models, real-time gross settlement, and enhanced operational resilience while balancing innovation with system-wide risk controls. With implementation set for August 24, 2026, financial institutions and payment service providers face critical
Canada Finance
MT
McCarthy Tétrault LLP
Article
How FCAC’s Revised Complaint-Handling Guideline Raises Expectations For Banks
Canada's financial regulator has published revised complaint-handling requirements that will fundamentally reshape how banks manage consumer disputes, introducing explicit timelines, formalized notices, and expanded remediation obligations. The new framework establishes a non-pausable 56-day resolution period and requires banks to implement systematic monitoring for issues that may affect multiple consumers. With implementation required by June 2027, financial institutions face significant operational chang
Canada Commercial
MT
McCarthy Tétrault LLP
Article
CSA Finalizes ‘access Equals Delivery’ Model For Continuous Disclosure Documents: Practical Implications For Reporting Issuers
On June 25, 2026, the Canadian Securities Administrators (the CSA) published [PDF] final amendments to National Instrument 51-102 – Continuous Disclosure Obligations and National Instrument 54-101 – Communication with Beneficial Owners of Securities of a Reporting Issuer and their related companion policies to implement an optional alternative model for the delivery of certain continuous disclosure documents by non-investment fund reporting issuers.
Canada Commercial
OH
Osler, Hoskin & Harcourt LLP
Article
Proposed Consumer-Driven Banking Regulations Released For Comment
Canada's Department of Finance has released proposed regulations to support the Consumer-Driven Banking Act, establishing a comprehensive framework for secure consumer financial data sharing. The regulations detail accreditation pathways, security requirements, liability rules, and operational standards that will govern how banks, fintechs, and payment service providers participate in the consumer-driven banking ecosystem. With a 60-day comment period ending August 26, 2026, stakeholders have a limited wind
Canada Finance
BC
Blake, Cassels & Graydon LLP
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