Category: Financial Services Regulatory

Page: 10 of 13Page 10 de 13<<<...89101112...>>>

Beyond Cards: Adapting to Disruption in Payments

November 5, 2015

Canada’s payment industry is constantly evolving. Legislation and expectations of regulators are also changing, but not at the same pace as the industry. This seminar will feature Blakes lawyers who will provide insight into the recent developments in the regulation of payments in Canada. Topics: Payment Disruptors: What’s Next? – Jacqueline D. Shinfield The Code of Conduct: Mobilizing – Bonny…

British Columbia Toughens Expectations Related to Creditor’s Group Insurance

October 26, 2015

British Columbia’s Financial Institutions Commission (FICOM) has issued Information Bulletin INS-15-002, which sets out FICOM’s expectations for insurers, exempt sellers and creditors regarding creditor’s group insurance (CGI) being offered in British Columbia. The Information Bulletin was published as a result of FICOM’s concerns over the sale and distribution of CGI products. Lenders and their third-party service providers should be aware…

Will that be cash, credit or bitcoin? The pros and cons of digital currency

September 23, 2015

Whether buying or selling, cryptocurrencies may change the way monetary transactions are conducted. Also known as digital or virtual currencies, cryptocurrencies are a unique peer-to-peer system that transfers monetary value without the exchange of physical coins or bank notes. There are many different types of cryptocurrencies available, but how they work depends on the platform that is being used. The…

What Does Operational Risk Management Draft Guideline Mean for Federally Regulated Financial Institutions?

September 1, 2015

  On August 20, 2015, the Office of the Superintendent of Financial Institutions (OSFI) released Draft Guideline E-21: Operational Risk Management (Draft Guideline) for comments. With the Draft Guideline, OSFI aims to provide a “comprehensive view of operational risk management and related OSFI guidance, across all FRFIs” and fill what it perceives to be a gap in existing guidance.  …

Assessment of Inherent Risks of Money Laundering and Terrorist Financing in Canada and Guidance on Risk-Based Approach

August 10, 2015

In preparation for the audit of Canada’s anti-money laundering and terrorist financing regime by the Financial Action Task Force (FATF) in the fall of 2015, the Department of Finance and the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) have been very busy. In that regard, they have each released guidance that is intended to  provide information to reporting…

Federal Election 2015: New Contribution Limits and Identification Requirements

July 27, 2015

  With a federal election scheduled for October 19, 2015, recent amendments to the Canada Elections Act will soon be put into practice. The Fair Elections Act (FEA) passed on June 12, 2014, has increased individual contribution limits and changed elector identification requirements.    CONTRIBUTION LIMITS   Contributions to political parties, associations or candidates by persons or entities other than…

Solicitor-Client Privilege: The Quebec Securities Regulator Can Summon In-House Counsel to Testify in an Investigation

July 20, 2015

  On July 16, 2015, the Supreme Court of Canada (SCC) denied leave to appeal to an in-house counsel (referred to as Ms. X to protect her identity) in the case of X v. Autorité des marchés financiers. The SCC thus maintained the decision of the Quebec Court of Appeal, which had ruled that an in-house counsel could not claim…

Amendments to Canada’s Anti-Money Laundering Legislation: What’s New and What’s Next

July 6, 2015

On July 4, 2015, the federal government released amended regulations (Regulations) under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA). While there are some additional regulatory burdens imposed on regulated entities in respect of domestic politically exposed persons (PEPs), and additional components to be considered in risk assessments, many of the proposed changes will be welcomed by…

Stronger Protections for Financial Services Consumers in Ontario?

June 25, 2015

On June 15, 2015, Ontario’s Ministry of Government and Consumer Services (Ministry) issued a consultation paper, “Strengthening Consumer Financial Protection,” (consultation paper) which offers a discussion of potential approaches to strengthening protection for Ontario consumers of financial services perceived to be “high-cost”.   The Ministry is seeking input from the public, community agencies, businesses, and municipalities on consumer financial services…

​Expanding the Meaning of Debt Collector in Ontario?

June 25, 2015

  On June 15, 2015, Ontario’s Ministry of Government and Consumer Services (Ministry) issued a consultation paper, “Strengthening Consumer Financial Protection,” (consultation paper) which, in addition to offering a discussion of potential approaches to strengthening protection for Ontario consumers of financial services perceived to be “high cost,” also offers discussion and a chance to provide feedback on debt collection proposals….

Page: 10 of 13Page 10 de 13<<<...89101112...>>>