News & Analysis as of

Canada Financial Services Industry

Stikeman Elliott LLP

Reminder for Certain Retail Payment Service Providers: Register by November 15, 2024 before the 15-day RPAA Application Window...

Stikeman Elliott LLP on

Canada’s new Retail Payment Activities Act (the “RPAA”), which governs Payment Service Providers (“PSPs”), requires registration with the Bank of Canada (the “BoC”) within a registration window that runs from November 1, 2024...more

Stikeman Elliott LLP

Strengthening Canada’s Financial Sector: Phase 3 of the Federal Consultation Emphasizes Competition and Consumer Interests

Stikeman Elliott LLP on

On August 12, 2024, the Department of Finance released its Consultation on Proposals to Strengthen Canada’s Financial Sector, the third phase of the federal government’s ongoing review of Canada’s financial institutions laws....more

Blake, Cassels & Graydon LLP

Projet de loi 29 de la Colombie-Britannique : Répercussions de la Mortgage Services Act auprès des prêteurs hypothécaires

Le projet de loi 29 de la Colombie-Britannique (le « projet de loi ») abroge la loi intitulée Mortgage Brokers Act de cette province et la remplace par une nouvelle loi, soit la Mortgage Services Act (la « Loi »), laquelle...more

Stikeman Elliott LLP

Ontario Consultation on Regulating Life & Health Managing General Agents Launched

Stikeman Elliott LLP on

On July 26, 2024, the Ontario Ministry of Finance launched a consultation on proposed amendments to the Insurance Act that would create a regulatory framework for life and health managing general agents (L&H MGAs) and those...more

Blake, Cassels & Graydon LLP

B.C. Mortgage Services Act: Bill 29’s Impact on Mortgage Lenders

British Columbia’s Bill 29 repeals the Mortgage Brokers Act and replaces it with the Mortgage Services Act (MSA). The MSA establishes a licensing and regulatory regime for mortgage brokerages, principal brokers and mortgage...more

Blake, Cassels & Graydon LLP

Quebec’s Financial Sector Regulator Publishes its Climate Risk Management Guideline

On July 4, 2024, Quebec’s financial sector regulator, the Autorité des marchés financiers (AMF), published its Climate Risk Management Guideline (Guideline). The Guideline aims to build the resilience of the financial sector...more

Stikeman Elliott LLP

OBSI Joint Regulators Committee Releases 2023 Annual Report

Stikeman Elliott LLP on

The Canadian Securities Administrators (“CSA”) and the Canadian Investment Regulatory Organization (“CIRO”) recently published the Annual Report (“Report”) of the Joint Regulators Committee (“JRC”) of the Ombudsman for...more

Stikeman Elliott LLP

Sanctions Evasion: Canada Takes Aim with New FINTRAC Reporting Requirements for Reporting Entities

Stikeman Elliott LLP on

Reporting entities under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) will soon be subject to a new requirement to report transactions suspected to be related to sanctions evasion to the...more

Blake, Cassels & Graydon LLP

Quebec’s Bill 30 Addresses Two Major Areas of Concern in the Financial Services and Insurance Sectors

On May 9, 2024, Quebec’s National Assembly adopted Bill 30, An Act to amend various provisions mainly with respect to the financial sector (Act). Among other things, the Act amends several provisions of the Act respecting the...more

Bennett Jones LLP

Fintech in Canada Q2 2024

Bennett Jones LLP on

Canada's Consumer-Driven Banking Act (CDBA) has become law. It was enacted on June 20, 2024, when Bill C-69, the Budget Implementation Act, 2024 received royal assent....more

Bennett Jones LLP

Canadian Government (Finally) Provides Certainty on Criminal Interest Rates

Bennett Jones LLP on

As we have reported in prior blogs, the Government of Canada is moving forward with plans to lower the criminal interest rate to an annual percentage rate (APR) of 35 percent (the current criminal interest rate, being an...more

Blake, Cassels & Graydon LLP

Deux importantes brèches colmatées par l’adoption récente du projet de loi n° 30

Le 9 mai dernier, l’Assemblée nationale du Québec a sanctionné le projet de loi n° 30 intitulé Loi modifiant diverses dispositions principalement dans le secteur financier (la « Loi 15 »). Ce projet de loi, qui apporte...more

Stikeman Elliott LLP

EMDs Can Now Participate in Prospectus Offerings

Stikeman Elliott LLP on

The securities regulators in Alberta, British Columbia, New Brunswick, Nova Scotia, Ontario, Québec and Saskatchewan have published a temporary exemption that allows exempt market dealers (“EMDs”) to participate in prospectus...more

Blake, Cassels & Graydon LLP

Principaux développements dans le secteur des régimes de retraite et des avantages sociaux

De nouveaux développements sur le plan réglementaire, technologique et culturel viennent façonner l’évolution du secteur des régimes de retraite et des avantages sociaux au Canada en 2024....more

Blake, Cassels & Graydon LLP

Key Developments in the Pensions and Benefits Sector

New regulatory, technological and cultural developments are shaping the evolution of Canada’s pensions and benefits sector in 2024. Below are five factors impacting how pension plans and funds operate...more

Blake, Cassels & Graydon LLP

Alerte : L’ARSF publie la version finale de sa ligne directrice relative aux modifications d’un régime de retraite

L’Autorité ontarienne de réglementation des services financiers (l’« ARSF ») a publié la version finale de sa Ligne directrice relative aux modifications d’un régime de retraite, laquelle est entrée en vigueur le 4 juin 2024...more

Bennett Jones LLP

U.S. Private Fund Adviser Rules Struck Down

Bennett Jones LLP on

After much anticipation from the private funds market, earlier this week on June 5, 2024, the U.S. Court of Appeals for the Fifth Circuit (the Court) reached a decision in respect of the litigation challenging the Private...more

Blake, Cassels & Graydon LLP

Alert: FSRA Publishes Final Guidance on Pension Plan Amendments

The Financial Services Regulatory Authority of Ontario (FSRA) has published its final Guidance on Pension Plan Amendments effective June 4, 2024 (Amendment Guidance). The Amendment Guidance describes FSRA’s approach to the...more

Bennett Jones LLP

Open Banking: What New Consumer-Driven Banking Legislation Means For Fintechs in Canada

Bennett Jones LLP on

If your company is a fintech operating or hoping to operate in Canada with a business model that offers financial products, you should be aware that Canada’s federal government has announced its intention to enact legislation...more

Wilson Sonsini Goodrich & Rosati

All Eyes on AI: Regulatory, Litigation, and Transactional Developments – Q1 2024

The firm is pleased to distribute the Q1 2024 edition of All Eyes on AI: Regulatory, Litigation, and Transactional Developments, which closely follows the evolving regulatory landscape for artificial intelligence (AI) in the...more

Stikeman Elliott LLP

Ontario Court Dismisses Cryptocurrency Class Action on Jurisdictional Grounds

Stikeman Elliott LLP on

In Shirodkar v Coinbase Global, Inc. et al., 2024 ONSC 1399 (“Coinbase”), the Ontario Superior Court of Justice (the “Court”) stayed a proposed class action against one of the four proposed defendants – Coinbase Canada Inc. –...more

Blake, Cassels & Graydon LLP

New Foreign Influence Registry to Impose Heavy Compliance Burden

In response to high-profile concerns about foreign interference in Canadian elections, Canada’s Minister of Public Safety has proposed a new Bill C-70, the Countering Foreign Interference Act (Bill). The Bill makes a number...more

Bennett Jones LLP

An Update on Criminal Interest Rate Amendments in Canada

Bennett Jones LLP on

On April 16, 2024, the Deputy Prime Minister and Finance Minister presented the Canadian Government’s 2024 budget. The government reiterated that it was “reinforcing its efforts to crack down on predatory lending, and moving...more

Blake, Cassels & Graydon LLP

Budget fédéral 2024 : Points saillants relatifs au secteur des services bancaires et financiers

Le 16 avril 2024, la vice-première ministre et ministre des Finances du Canada, Chrystia Freeland, a dévoilé le budget fédéral de 2024 (le « Budget 2024 »). Intitulé « Une chance équitable pour chaque génération », le Budget...more

Blake, Cassels & Graydon LLP

2024 Federal Budget: Banking, Financial Services Highlights

On April 16, 2024, Canada’s Deputy Prime Minister and Finance Minister Chrystia Freeland unveiled Budget 2024 (Budget). The Budget, titled “Fairness for every generation,” sets out the federal government’s policy initiatives...more

163 Results
 / 
View per page
Page: of 7

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide