Category: Financial Services Regulatory

Page: 5 of 11Page 5 de 11<<<...34567...10...>>>

A New Financial Consumer Framework – Does this Change Everything?

October 26, 2016

On October 25, 2016, Bill C-29, Budget Implementation Act, 2016, No. 2, received first reading. Division 5 of Bill C-29 will, if passed, consolidate the consumer provisions under the Bank Act. This is a result of successive governments’ promises to enact a comprehensive federal “consumer code” for banks, federal credit unions and foreign bank branches. It also reflects a response…

Beyond Cards: Evolving Regulation of Payments

October 20, 2016

As Canada’s payment industry continues to evolve, legislation and expectations of regulators are simultaneously shifting. With fintech transforming traditional payment models, complex regulatory requirements, compliance and risk mitigation considerations, there is much to discuss. Join Blakes lawyers for an overview of recent legal and regulatory developments and practical strategies to navigate the changing regulation of the payments industry. Topics: Code…

Proposed Supervision Framework and Publishing Principles for FCAC Decisions Released for Consultation

October 19, 2016

The Financial Consumer Agency of Canada (FCAC) recently published the following two documents for comment: Proposed Supervision Framework and Publishing Principles for FCAC Decisions (Consultation). The consultation period runs until November 14, 2016, and written comments can be submitted here. The FCAC last updated its Compliance Framework in 2011 (2011 Compliance Framework) and the current Consultation aims to address the…

Canada Deposit Insurance Corporation Looks to Modernize Deposit Insurance Information By-law

September 30, 2016

On September 12, 2016, the Canada Deposit Insurance Corporation (CDIC) published for comment a consultation paper (Consultation Paper) proposing amendments to modernize CDIC’s Deposit Insurance Information By-law (By-law), which governs how the CDIC member financial institutions are required to inform Canadians about deposit protection. This consultation is in addition to the consultation paper titled Deposit Insurance Review that was published…

Deposit Insurance Review: Improving the Current Framework

September 23, 2016

On September 16, 2016, Canada’s Department of Finance (Finance Canada) published for comment the Deposit Insurance Review (Consultation Paper). The Consultation Paper ensues from the Budget 2014 announcement of the launch of a comprehensive review of Canada’s deposit insurance framework to ensure that the framework provides adequate protection for the savings of Canadians. The consultation period runs until November 30,…

Doing Business in Canada

September 9, 2016

Canada’s Financial Sector: Legislation for the Future

August 29, 2016

On August 26, 2016, Canada’s Department of Finance (Finance Canada) launched a consultation process to review the legislative and regulatory framework of the federal financial sector. This follows the extension of the sunset provisions under the Bank Act, the Insurance Companies Act and the Trust and Loan Companies Act from 2017 to 2019.   As the first of a two-stage…

Assumption Reinsurance Refresher

August 22, 2016

On August 9, 2016, the Office of the Superintendent of Financial Institutions (OSFI) posted revised transaction instructions on its website for reinsurance on an assumption basis (Assumption Reinsurance). OSFI stated that the information requirements and administrative guidance contained in the revised transaction instructions have been updated in line with OSFI’s current expectations and views regarding Assumption Reinsurance. Notably, in the…

Thinking at the Margin: Canadian Provincial Regulators Issue Margin Proposals for Non-Cleared Derivatives

August 15, 2016

Regulators of many financial institutions, federally in Canada and internationally, have established rules requiring margin to be exchanged in connection with derivatives that are not cleared through a central counterparty. A parallel set of margin requirements is being proposed by the Canadian Securities Administrators’ Derivatives Committee (Consultation Paper 95-401 – Margin and Collateral Requirements for Non-Centrally Cleared Derivatives (CSA Proposal))….

Page: 5 of 11Page 5 de 11<<<...34567...10...>>>