Rick Fullerton

Rick’s practice covers many areas of banking, finance and securities law, with an emphasis on securitization and structured finance, corporate finance and financial institutions work.

He has acted for clients on a variety of securitization and structured finance transactions and has extensive experience in acting for single and multi-seller securitization conduits, issuers, underwriters and investment banks covering a wide variety of asset classes, including covered bonds, residential mortgages, credit cards, automotive loan and lease receivables, equipment and automotive dealer floorplan receivables and trade receivables.

Rick has also acted on many public and private initial and secondary offerings of corporate and financial institution debt, equity and innovative capital products.

Representative Work

  • Borrowell Inc.

    Borrowell Inc. in connection with its $12 million Series A round of financing led by Portag3 Ventures LP, Equitable Bank and White Star Capital and $45 million in new credit facilities provided by Concentra and FirstOntario Credit Union

  • Issuer’s counsel on the sale of $325 million dealer floorplan receivables-backed notes by CNH Capital Canada Wholesale Trust, the first transaction completed pursuant to the Canadian government’s Canadian Secured Credit Facility asset-backed security purchase program
  • Underwriters’ counsel on the initial public offering of automobile receivable-backed notes by Ford Auto Securitization Trust (FAST) and dealer floorplan receivable-backed notes by Ford Floorplan Auto Securitization Trust (FFAST)
  • Issuer’s counsel on numerous Bank of Montreal offerings, including $1 billion of common shares, several issuances of Class B Preferred Shares and its Covered Bond Programme, as well as $450 million of innovative Tier 1 capital issued by BMO Capital Trust II
  • Issuer’s counsel on The Bank of Nova Scotia’s Covered Bond Programme
  • Dealers’ counsel on National Bank of Canada’s Covered Bond Programme
  • Issuer’s counsel on the issuance of several series of credit-card receivables-backed notes issued by Master Credit Card Trust, a Bank of Montreal sponsored securitization trust
  • Underwriters’ counsel on several offerings of credit card receivables-backed notes issued by Golden Credit Card Trust, a Royal Bank of Canada sponsored securitization trust
  • Principal counsel to two Schedule I Banks with respect to their ongoing commercial paper conduit securitization programs
  • Several cross-border securitization transactions in which US Bank affiliates have purchased asset-backed securities issued by Canadian trusts through a private placement

Awards and Recognition

  • Chambers Canada: Canada’s Leading Lawyers for Business: Recognized in Capital Markets: Securitization (Band 1)
  • Chambers Global: The World’s Leading Business Lawyers: Recognized in Capital Markets: Securitization
  • The Canadian Legal Lexpert Directory: Recognized in Asset Securitization; Banking & Financial Institutions; Canada’s top asset securitization lawyers in 2021
  • Best Lawyers in Canada: Recognized in Banking and Finance Law; Securities Law; Structured Finance Law; “Lawyer of the Year”, Structured Finance Law
  • Legal 500: Recognized as a Leading Individual in Capital Markets
  • IFLR 1000: The Guide to the World’s Leading Financial Law Firms: Recognized in Banking; Capital Markets; Structured Finance and Securitization (Highly Regarded)

Media Mentions

  • Osler News Feb 16, 2024

    Osler recognized as a leading firm in Chambers Global 2024 Guide

    Osler recognized as a leading firm in Chambers Global 2024 Guide

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  • Osler News Aug 24, 2023

    178 Osler lawyers recognized in Best Lawyers in Canada 2024

    Osler is proud to announce that 178 of our lawyers have been recognized in the 2024 edition of Best Lawyers in Canada, with 13 named “Lawyer of the Ye...

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  • Osler News Aug 26, 2021

    Osler recognized in 2022 edition of Best Lawyers Canada

    Osler is proud to announce that 168 of our lawyers have been recognized in the 2022 Best Lawyers Canada rankings

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Speaking and Writing

Speaking Engagements

speaker 18/6/2018
Rising Above: 2018 Treasury & Finance Forum
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  • University of Ottawa, LL.B./M.B.A. (summa cum laude)
  • Carleton University, B.A. (Hons.)


  • English

Professional Affiliations

  • Canadian Bar Association
  • Ontario Bar Association