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ARTICLE · 12 DECEMBER 2017

Bill 141: New Governance Rules For Certain Quebec Companies

Blake, Cassels & Graydon LLP
Blake, Cassels & Graydon LLP
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Directors of Quebec insurers, trust and savings companies and deposit institutions will have increased duties regarding the development and enforcement of "sound commercial practices" ...

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Blake, Cassels & Graydon LLP
Blake, Cassels & Graydon LLP
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Directors of Quebec insurers, trust and savings companies and deposit institutions will have increased duties regarding the development and enforcement of "sound commercial practices" and "sound and prudent management practices" in order to comply with new regulations enacted by Bill 141. The bill, titled An Act mainly to improve the regulation of the financial sector, the protection of deposits of money and the operation of financial institutions, was introduced by Quebec's Minister of Finance Carlos Leitão in October 2017 and applies to companies licensed, but not incorporated in Quebec (see our October 2017 Blakes Bulletin: Quebec Introduces Much Anticipated Bill 141 to Revise Framework for Quebec Financial Sector).

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