Canada: Financial Services

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Finance law and banking law thought leadership, articles, podcasts, videos and webinars from expert sources across the legal world. Explore insights covering topics such as capital adequacy, BASEL, acquisition finance, debt capital markets, fund finance, islamic finance, securitization and structured finance.
Article
One Step Closer To Harmonization: CIRO's Proposed Incorporated Approved Person Compensation Model
The Canadian Investment Regulatory Organization (CIRO) has published rule amendments to harmonize advisor compensation (the Amendments). Following CIRO’s 2024 position paper that consulted on three potential regulatory approaches to allow payment of advisor compensation to advisor-owned corporations for all CIRO-regulated dealer members (Dealers), the Amendments propose to adopt the Incorporated Approved Person compensation option.
Canada Finance
BL
Borden Ladner Gervais LLP
Article
Drop It Like It’s Debt: A Canadian Guide To Liability Management Exercises – Part I
Liability management exercises (LMEs) enable borrowers to restructure debt outside formal insolvency proceedings by exploiting flexible loan documentation. As Canadian companies increasingly access U.S. debt markets with permissive covenant packages, understanding drop-down, uptiering, and double-dip structures becomes essential for lenders seeking to protect their interests.
Canada Finance
ML
McMillan LLP
Article
At The Crossroads: Proposed Amendments Regarding Insider Reporting Requirements
Earlier this spring, the Canadian Securities Administrators (CSA) proposed amendments to certain exemptions from insider reporting found in National Instrument 55-104 Insider Reporting Requirements and Exemptions (NI 55-104). The amendments are intended to clarify that the insider reporting regime applies to certain transactions involving investment funds and structured products, like structured notes and Canadian Depositary Receipts, that are based on securities of a reporting issuer.
Canada Commercial
BL
Borden Ladner Gervais LLP
Article
Canada’s Real-Time Rail Moves Closer To Launch: RTR By-law Officially Published
Canada's Real-Time Rail system reaches a pivotal milestone with the publication of By-law No. 10, establishing the legal framework for instant payments and broader access to national payment infrastructure. The new framework introduces direct and indirect participation models, real-time gross settlement, and enhanced operational resilience while balancing innovation with system-wide risk controls. With implementation set for August 24, 2026, financial institutions and payment service providers face critical
Canada Finance
MT
McCarthy Tétrault LLP
Article
How FCAC’s Revised Complaint-Handling Guideline Raises Expectations For Banks
Canada's financial regulator has published revised complaint-handling requirements that will fundamentally reshape how banks manage consumer disputes, introducing explicit timelines, formalized notices, and expanded remediation obligations. The new framework establishes a non-pausable 56-day resolution period and requires banks to implement systematic monitoring for issues that may affect multiple consumers. With implementation required by June 2027, financial institutions face significant operational chang
Canada Commercial
MT
McCarthy Tétrault LLP
Article
CSA Finalizes Amendments To Implement Access Model For Continuous Disclosure Documents Of Non-Investment Fund Reporting Issuers
On June 25, 2026, the Canadian Securities Administrators (CSA) published in final form amendments to National Instrument 51-102 Continuous Disclosure Obligations (NI 51-102) and National Instrument 54-101 Communication With Beneficial Owners of Securities of a Reporting Issuer and changes to related companion policies (collectively, the Final Amendments). The Final Amendments will implement an access model (Access Model) for annual financial statements, interim financial reports and related management’s discussion and analysis (MD&A) of non-investment fund reporting issuers (collectively, CD documents).
Canada Commercial
BC
Blake, Cassels & Graydon LLP
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