ArticleUnderstanding The Commercial Financing ProcessMost companies will go through the process of borrowing funds from a financial institution at some point in their operations. CanadaFinance and BankingPushor Mitchell
ArticleOSFI Provides Update On OTC Derivatives Markets ReformThe Office of the Superintendent of Financial Institutions Canada yesterday released a progress update with respect to the implementation of G-20 reforms for OTC derivatives markets.CanadaFinance and BankingStikeman Elliott LLP
ArticleNormal Course Issuer Bids - Is It Time To Buy Back Shares?During the current turbulent financial markets in which publicly-traded securities may not reflect their underlying value, companies may want to consider whether they should initiate a share buy-back program. CanadaFinance and BankingCassels
ArticleOSFI Publishes Letter On Plans To Update Capital Requirements For Residential MortgagesThe regulatory capital requirements are in place to mitigate the risk that federally regulated financial institutions face in loss scenarios. CanadaFinance and BankingMcMillan LLP
ArticleProposed Short-Term Debt Exemption In Canada – A Chart Simplifying The Credit Rating RequirementThis is a follow-up to a recently posted blog on January 30, 2014 titled, "Changes Proposed for Exempt Offerings of Short-Term Debt and Securitized Products in Canada."CanadaFinance and BankingBrian Koscak Blog
ArticleThe Financial Sector And The Federal Budget 2012The March 29, 2012 federal Budget indicates that the Government of Canada will be moving ahead with a few important financial sector initiatives, but the Budget was short on detail. CanadaFinance and BankingFasken
ArticleThe SEC´s Interpretive Release On "Mark-to-Market" AccountingOn September 30, 2008 the Office of the Chief Accountant of the U.S. Securities and Exchange Commission and the Financial Accounting Standards Board jointly released an interpretive memorandum regarding "mark-to-market" accounting.CanadaFinance and BankingDavies Ward Phillips & Vineberg LLP
ArticleOSFI Consultation On Prudential Treatment Of Cryptoasset ExposuresOn June 10, 2021, the Basel Committee on Banking Supervision (the "Basel Committee") released a public consultation paper on the prudential treatment of cryptoasset exposures (the "Report")...CanadaTechnologyMcCarthy Tétrault
ArticleCOVID-19: New Measures Announced In Respect Of Basel Capital FrameworkOn April 4, 2020, the Basel Committee on Banking Supervision (Basel Committee) announced new measures aimed at alleviating the impact of COVID-19 on the global banking system.CanadaCoronavirus (COVID-19)Blake, Cassels & Graydon LLP
ArticleIs Semi-Annual Financial Reporting Right For You? The CSA's Pilot Project For Venture Issuers Is Now LiveVoluntary semi-annual financial reporting (SAR) for public companies in Canada is now live, at least for eligible venture issuers.CanadaCorporate/Commercial LawFasken
ArticleOSC Provides Update On Capital Raising InitiativesDecember has just arrived and the year is almost over. Many capital market participants are waiting for the Ontario Securities Commission (the OSC) to publish a draft of the proposed prospectus exemptions it is considering as previously published on August 28, 2013 (See OSC Notice 45-712 Progress Report on Review of Prospectus Exemptions to Facilitate Capital Raising). CanadaCorporate/Commercial LawBrian Koscak Blog
ArticleBill C-331: An Act To Amend The "Bankruptcy And Insolvency Act" And The "Companies’ Creditors Arrangement Act" (Pension Plans)In the midst of the ongoing restructurings of Nortel and AbitibiBowater, the New Democrats introduced Bill C-501 in the spring of 2010 to amend the "Bankruptcy and Insolvency Act" (the "BIA") and the "Companies’ Creditors Arrangement Act" (the "CCAA") with the goal of better protecting employees’ interests in the context of formal insolvency proceedings, including pension interests. CanadaFinance and BankingAird & Berlis LLP
ArticleDemand Guarantees: Guarantor Attempts to Use Bank's Courtesy Against ItIn Bank of Nova Scotia v. Williamson, The Bank of Nova Scotia (the "Bank") advanced loans to Ancon Industries Inc. ("Ancon"). The loans were guaranteed (the "Guarantee") by an individual guarantor (the "Guarantor") who was an officer, director and shareholder of Ancon. CanadaFinance and BankingDentons Canada LLP
ArticleNorthland Power Inc. Completes $990 Million Bought Deal Equity OfferingOn April 21, 2021, Northland Power Inc. completed its bought deal offering 22,500,500 common shares, including 2,045,500 Shares issued pursuant to the exercise in full by the underwriters...CanadaFinance and BankingBorden Ladner Gervais LLP
ArticleOSFI Provides Update On IFRS 17 AdoptionIn preparation for the introduction to Canada of International Financial Reporting Standard 17 Insurance Contracts ("IFRS 17"), the Office of the Superintendent of Financial Institutions ("OSFI")...CanadaFinance and BankingDentons Canada LLP
ArticlePayment ScamsA number of payment scams have been propogated recently which focus on lawyers. CanadaFinance and BankingAird & Berlis LLP
ArticleSupreme Court rules on Saskatchewan PPSA Bank Act Priority DisputesThe Supreme Court of Canada recently rendered two companion decisions concerning priority disputes between security taken pursuant to the Personal Property Security Act (Saskatchewan) and security taken pursuant to the Bank Act (Canada). CanadaFinance and BankingStikeman Elliott LLP
ArticleDelegated Regulation On Disclosure Of Encumbered And Unencumbered Assets Under CRRThere has been published in the Official Journal of the EU (OJ), Commission Delegated Regulation (EU) 2017/2295 of 4 September 2017 supplementing the Capital Requirements Regulation with regard to regulatory technical standards...European UnionFinance and BankingNorton Rose Fulbright Canada LLP
ArticleBasel III And Global Liquidity Standards - Are Canadian Banks Up To The Challenge?One of many lessons learned from the global financial crisis of 2007-2008 was the relationship between systemic risk and liquidity.CanadaFinance and BankingDLA Piper