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A nominee director of a corporation appointed by one of its creditors may encounter risk of liability where that creditor is engaged with the corporation in efforts to restructure its debt. Steps can be taken to minimize the risk of such liability.

The Office of the Superintendent of Financial Institutions (OSFI) has announced immediate changes to the Life Insurance Capital Adequacy Test (LICAT) Guideline...

The report first surveys the principles of Islamic finance and compares how Islamic finance compares with conventional finance. Next, the report considers the application of Shariah to mortgage lending internationally, noting that it is more state centric and less internationalized than other forms of Islamic finance and investment.

In 2008 the Legislative Assembly of British Columbia passed the Economic Incentive and Stabilization Statutes Amendment Act, a bill intended to protect registered savings plans of debtors from creditors.

Canada remains subject to a number of confusing, and perhaps conflicting, political agendas which limits the necessary comprehensive structural changes to its financial intermediaries and capital markets. The financial institution merger question remains in limbo, with most of the likely players reluctant to put their hand up in the absence of an announced change permitting mergers among banks and between different kinds of financial institutions.

OSFI has provided greater transparency to the market surrounding the Domestic Stability Buffer currently held by Domestic Systemically Important Banks in a bid to guard against Pillar 2 risks...

Proposed changes relate to counterparty credit risk exposure for derivatives and the treatment of securitized assets in Canada.

On December 10, 2012, the Office of the Superintendent of Financial Institutions Canada (OSFI) issued the final version of the revised Capital Adequacy Requirements Guideline (the Guideline).

The Department of Finance has published a revised consultation draft of the Capital Markets Stability Act (CMSA) for comment.

On November 10, 2011, CSA staff published CSA Staff Consultation Note 45-401 Review of Minimum Amount and Accredited Investor Exemptions (the consultation note).

The Toronto Financial Services Alliance (TFSA) a public private partnership of federal, provincial and municipal governments and leading financial institutions and entities, has made submissions to the federal and provincial governments as part of the annual pre-budget consultation process.

The Minister of Finance delivered an early holiday gift on December 20, 2007 to certain income funds and their investors when he announced technical amendments to the specified investment flow-through rules released October 31, 2006 (and enacted in June 2007).

Bankers to the oil and gas industry should be wary of applying customer’s funds held in accounts with the bank against obligations owed to the bank where the customer is known to be an “Operator” under a Joint Operating Agreement.

On March 27, 2020, the Office of the Superintendent of Financial Institutions (OSFI) announced a number of sector-specific measures to support federally regulated banks

On November 23, 2011, the Government of Canada introduced a bill known as the Financial System Review Act.

On October 12, 2021, the Office of the Superintendent of Financial Institutions (OSFI) published a summary of stakeholder feedback in respect of a discussion paper ...

In a client update released earlier this month, we discussed the recent decision of the Ontario Court of Appeal in the CCAA proceedings of Indalex Limited.

New federal legislation will implement a total loss-absorbing capacity (TLAC) requirement and a bail-in capital regime for Canada's Domestic Systemically Important Banks (D-SIBs).