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The Reporter provides a monthly summary of significant international and Canadian federal legislative and regulatory developments of relevance to federally regulated financial institutions in Canada.

February updates to financial services regulation have emphasized economic readiness and fintech innovation.

In "True Lease v. Security Lease – Is the Distinction Still Relevant?" which appeared in the June 2008 issue of "Collateral Matters", Jill Fraser discussed a 2007 amendment to the "Personal Property Security Act" (Ontario) (the "PPSA") and whether or not the distinction between a true lease and a security lease was still relevant in light of that amendment.

On November 23, 2011, the federal government introduced Bill S-5 on the Senate floor as part of the five-yearly update and review process of legislation governing federally regulated financial institutions.

The Reporter provides a monthly summary of significant international and Canadian federal legislative and regulatory developments of relevance to federally regulated financial institutions in Canada.

The Bank Act and a number of other federal statutes relating to financial institutions must, by law, be reviewed every five years.

Whether a lease is a "true" or "finance" lease has been debated in Canadian courts for decades in many different contexts.

THE SCOPE OF ADDITIONAL HYPOTHECS WAS EXAMINED BY THE SUPERIOR COURT ON SEPTEMBER 6, 2011 IN THE CASE OF BANQUE NATIONALE DU CANADA V. LAROUCHE.

Since the introduction of the PPSA in Ontario in 1976, the issue of whether a lease is a true lease or a security lease has generated more litigation and controversy than any other specific issue under the PPSA. How a lease is ultimately characterized can have serious consequences.

Another recent Ontario Superior Court of Justice case, Bank of Nova Scotia v. IPS Invoice Payment System Corporations et al., reviews the scope of a security interest over proceeds and discusses whether the amount of the indebtedness secured by a security interest in both collateral and its proceeds is limited to the amount of the secured debt or the value of the collateral.

Last fall, the Minister of Environment and Climate Change announced the federal government's next steps towards achieving a plastic waste-free Canada.

The Reporter provides a monthly summary of Canadian federal legislative and regulatory developments of relevance to federally regulated financial institutions.

The Office of the Superintendent of Financial Institutions ("OSFI") published Guideline E-22 Margin Requirements for Non-Centrally Cleared Derivatives (the "Final Margin Rule") on February 29, 2016...

The Office of the Superintendent of Financial Institutions ("OSFI") recently released for comment a draft of a new Guideline B-10 – Outsourcing of Business Functions. The new Guideline will apply to federally regulated financial institutions such as banks and insurance companies, subsidiaries and parent companies of such institutions, and foreign financial institution branches, as well as bank holding companies (collectively, for the purposes of this bulletin, "FRFIs")

The Reporter provides a monthly summary of Canadian federal legislative and regulatory developments of relevance to federally regulated financial institutions.

There has been no shortage of victims in this financial crisis. Pensions and retirement savings have been severely reduced, jobs have been lost and once powerful financial institutions have failed. But, there is, perhaps, another victim that has largely gone unnoticed: the rule of law.

The OSFI published the final version of Guideline E-22 — Margin Requirements for Non-Centrally Cleared Derivatives

On June 10, 2021 the Basel Committee on Banking Supervision ("Basel Committee") issued a public consultation paper (the "Report"), requesting comments on its preliminary proposal for the prudential...