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The Office of the Superintendent of Financial Institutions (OSFI) published a letter to Federally Regulated Insurers on August 7, 2020...

The Basel Committee on Banking Supervision has introduced additional measures to alleviate the impact of COVID-19 on the global banking system.

On March 29, 2012, the Financial System Review Act ("FSRA") received royal assent, with the provisions coming into force on a date to be fixed by order in council.

On March 20, the Ontario Securities Commission published a staff notice outlining the results of its regulatory review of emerging market issuers.

The LR guideline supplements this by setting out the framework for the leverage ratio, which helps measure the adequacy of an institution's capital.

The Office of the Superintendent of Financial Institutions has released proposed revisions to the Leverage Requirements guideline in order to align with upcoming modifications to Chapter 4 (Settlement and Counterparty Risk) and ...

On November 23, 2011, the federal government proposed amendments to the Bank Act (the "Amendments") which effectively overturn two Supreme Court of Canada ("SCC") decisions in the area of banking and financial services law.

The Treasury Department's Financial Crimes Enforcement Network (FinCEN) bureau has issued proposed regulations regarding the US foreign bank account report (FBAR) annual filing requirements.

Non-Canadian investors who are considering real estate based lending in Canada should be aware of certain regulatory requirements or limitations in Canada.

Out of the US Supreme Court comes a positive development for Canadian issuers of securities who have business operations in the United States: the US Supreme Court held, on June 24, 2010, that the principal statutory provisions used by security-holders to bring class actions in the US — s.10(b) of the Securities and Exchange Act of 1934 and SEC Rule 10b-5 (which is promulgated under s. 10(b)) — have no application to trades in securities that are not traded on a US exchange and that do not take

Borrowers and lenders take note – an inconspicuous but important statutory right of prepayment exists under the federal <I>Interest Act</I> which applies to non-corporate borrowers.

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

As stated in our previous blogs, on January 09, 2012 the IRS extended the Offshore Voluntary Disclosure programs indefinitely for US citizens who live abroad and who are not current on their US tax obligations.

In 2003, the United States Congress passed the Fair and Accurate Credit Transactions Act, intended to enhance existing provisions against identity theft and to better protect consumers.

On November 11, 2011, Canadian Securities Administrators ("CSA") staff issued for public consultation Note 45-401 – Review of Minimum Amount and Accredited Investor Exemptions.

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

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