Rick  Fullerton

Rick Fullerton

Partner, Financial Services

Key Contact: Securitization and Structured Finance

Contact Information


tel: 416.862.4604



Bar Admission

Ontario, 1998


  • University of Ottawa, LL.B./M.B.A. (summa cum laude)
  • Carleton University, B.A. (Hons.)



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.

  • Ratehub Inc.

    Ratehub in its investment by Novacap

  • Laurentian Bank

    Laurentian Bank in its inaugural LRCN offering

  • The Bank of Nova Scotia

    The Bank of Nova Scotia in its US$1.25 billion senior notes offering

  • BMO

    BMO in its US$500 million inaugural additional Tier 1 note offering

  • FundThrough

    FundThrough in its $34 million Series A financing

  • 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
  • Find More

  • Chambers Canada: Canada’s Leading Lawyers for Business: Recognized in Capital Markets: Securitization
  • 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 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)

  • Canadian Bar Association
  • Ontario Bar Association

Diversity at Osler

See how we champion diversity and inclusion in our workplace, the legal industry and the communities we serve.

Read the 2022 Diversity Report