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ARTICLE · 04 APRIL 2018

Significant Change Ahead For Financial Institution Statutes

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Below our authors summarize and discuss potential implications resulting from the proposed "priority" amendments to the Bank Act, the Trust and Loan Companies Act...

CanadaFinance and Banking
Blair Keefe
Blair Keefe
Eli Monas
Eli Monas
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Below our authors summarize and discuss potential implications resulting from the proposed "priority" amendments to the Bank Act, the Trust and Loan Companies Act and the Insurance Companies Act (collectively, the Acts) emanating from the Budget Implementation Act. Blair Keefe is partner and co-head of the firm's Financial Institutions Practice. Eli Monas is a senior associate who recently returned to the firm after a six-month secondment to the Legislation and Approvals Division at the Office of the Superintendent of Financial Institutions.

On March 27, Bill C-741 (the Budget Implementation Act) was introduced to implement certain "priority" amendments identified in the Budget tabled in Parliament on February 27, 2018 (for background, see our earlier bulletin " Budget 2018's Impact on the Canadian Financial Sector").

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