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In-transit inventory represents a significant, and growing, proportion of inventory for many borrowers, who often look to their lenders to advance against such inventory.

A recent Ontario Court of Appeal decision has highlighted again the perils facing banks which unwittingly negotiate fraudulent cheques. In <I>Westboro Flooring and Décor Inc. </I>v. <I>Bank of Nova Scotia, </I>the Court pinned the entire loss flowing from a fraudulent cheque scheme on the fraudster’s bank (the "Collecting Bank"), which had allowed the fraudster to deposit the fraudulent cheques into his account.

On November 25, 2005, Bill C-57, An Act to amend certain Acts in relation to financial institutions</I> ("Bill C-57"), re-ceived Royal Assent.

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

The Mortgage Brokerages, Lenders and Administrators Act, 2006 (Ontario) (the "Current Act") came into effect on July 1, 2008, at which time the Mortgage Brokers Act (Ontario) (the "Previous Act") was repealed.

On July 9, 2024, the Basel Committee on Banking Supervision (BCBS) issued for comment their "Principles for the sound management of third-party risk".

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

When does the limitation period begin to run on a guarantee in Ontario? Under the “Limitations Act, 2002 (Ontario)”, a creditor must commence a proceeding to enforce a guarantee within two years of "discovering a claim".

It has been just over a year since the federal Department of Finance ("Finance") released revised draft amendments to the tax on split income ("TOSI") rules in section 120.4 of the Income Tax Act

The recent rescue of American International Group has sparked regulatory action in the State of New York in the hitherto unregulated "covered" credit default swap (CDS) market and could result in new regulation of the "naked" CDS market.

On November 5, 2010, the Supreme Court of Canada gave judgment in two companion cases involving security granted under section 427 of the Bank Act (Canada) (the "Bank Act Security") in competition with security granted under the Personal Property Security Act (Saskatchewan) (the "PPSA").

Welcome to the inaugural issue of Fully Secured @ Gowlings, a periodic newsletter designed for our lending clients to keep you updated on matters of interest to secured lenders generally. We aim to keep our articles brief and to the point to fit with your busy day. We hope you will find our newsletter informative and a useful tool in your day to day business.

The Office of the Superintendent of Financial Institutions (OSFI) released its new framework for supervising federally regulated financial institutions (FRFIs) on February 8, 2024.

The Office of the Superintendent of Financial Institutions (OSFI), Canada's federal regulator of financial institutions, recently issued Guideline E-22 – Margin Requirements for Non-Centrally Cleared Derivatives (Guideline).

Canada's financial regulator is adapting its risk framework to address emerging threats from artificial intelligence and trade tensions with the United States. OSFI Superintendent Peter Routledge discusses how the agency is balancing innovation with safety while preparing for fundamental changes in the financial system by 2030. The conversation explores regulatory responses to AI-driven cyber risks, household leverage concerns, and the need for Canada to embrace calculated risk-taking during economic transi

The market disruption caused by the COVID-19 pandemic has created new investing opportunities as well as the need to adjust related strategies.

Both the bail-in power and the TLAC capital standard will have a considerable impact on Canadian DSIBs' funding and capital structures.

The Federal Government has just released new regulations in draft form which are intended to implement recent amendments to the Bank Act.