Financial Services Regulatory
Goodmans Financial Services Regulatory Group guides and advises financial services market participants in navigating Canada’s complex and evolving regulatory ecosystem. Our lawyers are frequently on the ground floor of policy and regulatory changes, working collaboratively with regulatory and governmental bodies in the development and implementation of financial services policy, legislation, regulation and guidance.
The Group draws from the experience and expertise of Goodmans top-tier solicitor and litigation teams who practise across a broad range of disciplines, including banking, mortgage lending and intermediation, insurance, pensions, securities, derivatives, payment processing, employment, fintech, consumer protection, data protection & privacy, anti-money laundering, anti-terrorist financing and economic sanctions.
Our clients include regulators, foreign and domestic banks, loan and trust companies, mortgage lenders, credit unions, insurance companies, broker dealers, investment advisors, public pension plans, pension plan sponsors, employers, payment processors, technology providers, blockchain participants and crypto-currency dealers, exchanges and platforms. We have strong, trusted relationships with many Canadian regulators, some of whom are also our clients, including the Office of the Superintendent of Financial Institutions (OSFI), the Canada Deposit Insurance Corporation (CDIC), the Departments of Finance (federal and provincial), Canada Mortgage and Housing Corporation (CMHC), Investment Industry Regulatory Organization of Canada (IIROC), the Canadian Investor Protection Fund (CIPF), the Financial Services Regulatory Authority of Ontario (FSRA) and the Ontario Securities Commission (OSC).
We help our clients work seamlessly across borders—regularly guiding and assisting both Canadian and non-Canadian clients in:
- divesting or acquiring financial services businesses;
- establishing their regulated businesses or operations in Canada,
- obtaining the regulatory licenses and registrations they require to operate in Canada or seeking appropriate exemptions;
- developing regulatory compliance policies and procedures for their business and modifying those as necessary to accommodate regulatory changes;
- providing ongoing advice in the navigation of day-to-day regulatory issues;
- advising in relation to regulatory compliance issues and related disputes, investigations and enquiries as they arise;
- advocating on their behalf before regulators and in the courts; and
- working with regulators to develop new and modified legislation, regulations, policies and guidelines.
Members of Goodmans Financial Services Regulatory Group are consistently recognized as leading lawyers within their fields of expertise.
Explore People in Financial Services Regulatory
Meet our teamFeatured Work
-
Mergers and Acquisitions
Amp Energy’s Innovative $350 Million Cross-Jurisdictional Credit Facility
Goodmans LLP acted for Amp Solar Group in connection with Amp Energy’s innovative $350 million cross-jurisdictional credit facility with a consortium of leading institutional investors including…
Insights
-
Financial Services Regulatory
FINTRAC Publishes Terrorist Activity Financing Indicators for Suspicious Transactions
On December 15, the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) published an Operational Alert: Terrorist Activity Financing (the “Alert”). The Alert identifies terrorist… -
Capital Markets
CSA and IIROC Seek Guidance on Regulatory Framework for Short Selling in Canada
The Canadian Securities Administrators (“CSA”) and the Investment Industry Regulatory Organization of Canada (“IIROC”) have released a joint Staff Notice 23-329 (the “Staff Notice”) seeking feedback… -
Financial Services Regulatory
FINTRAC Advisory Concerning Financial Transactions Involving High-Risk Countries Identified by FATF
On November 28, 2022, the Financial Transactions and Reports Analysis Centre (FINTRAC) issued an advisory (the “Advisory”) concerning financial transactions related to countries identified by the… -
Financial Services Regulatory
Statement of Expectations Issued to Regulated Entities Engaging in Crypto-Related Services or Crypto-Asset Activities
The Office of the Superintendent of Financial Institutions (OSFI), the Financial Consumer Agency of Canada (FCAC) and the Canada Deposit Insurance Corporation (CDIC) issued yesterday a statement to… -
Financial Services Regulatory
IIROC Issues Guidance on Short Sale Orders and the Reasonable Expectation to Settle Resulting Trades
On August 17, 2022, the Investment Industry Regulatory Organization of Canada (IIROC) issued Notice 22-0130 Guidance on Participant Obligations to have Reasonable Expectation to Settle any Trade… -
Financial Services Regulatory
FINTRAC Retracts PI-7670: Certain Merchant Servicing and Payment Processing Activities May Be MSB Activities
As we reported in our May 4 Update, the Proceeds of Crime (Money Laundering) and Terrorist Financing Regulations and the Proceeds of Crime (Money Laundering) and Terrorist…