Banking and Financial Services Banking and Financial Services

Preparing for fast-approaching margin requirements for non-centrally cleared derivatives

Derivatives regulatory reform in Canada continues, with new margin requirements for non-centrally cleared derivative transactions coming into effect...

Plaintiffs drive to overcome Securities Act protections for issuer and underwriter class actions

In 2016, plaintiffs continued their attempts to circumvent the protections offered to defendants under the Ontario Securities Act against secondary...

Securities enforcement: Regulators’ enforcement capabilities continue to grow

With the new tools recently given to securities regulators in Ontario and Québec to help combat capital market abuses, regulators are hoping for...

SPACs seek to complete qualifying acquisitions

We also expect there will be further developments in practice as the existing SPACs move to complete their qualifying acquisitions. Market...

InterOil Decision – Implications for Fairness Opinions, Disclosure and Corporate Governance in Sale Transactions

The Yukon Court of Appeal blocked Exxon Mobil's proposed US$2.3 billion acquisition of InterOil, in a decision with potentially significant...

Federal consumer code for banks — proposed Bank Act amendments

On October 25, 2016, the Canadian federal government introduced Bill C-29, Budget Implementation Act, 2016, No. 2 (the Bill). If enacted, the Bill...

TSX provides guidance regarding the pricing of acquisition financing transactions

Some market participants may not be aware that the Toronto Stock Exchange, for years, has been scrutinizing the practice of launching and announcing...

Canadian Securities Administrators propose a regulatory framework for offering hedge funds to the public

The Canadian Securities Administrators proposed a regulatory framework for offering hedge funds to the public. The Proposal introduces a framework...

Expert panel proposes “radical change” after mandate reviews of Ontario financial regulators

Ontario’s Minister of Finance has released the Final Report regarding the mandate reviews of the Financial Services Commission of Ontario (FSCO),...

Update on Canada’s Bail-in Regime

The Canadian Federal Government introduced legislation to implement a bank recapitalization or “bail-in” regime for domestic systemically...