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
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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
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Financial Services Regulatory
CSA and OSFI Announce Guidance Concerning Crypto Asset Holdings
The Canadian Securities Administrators (CSA) and the Office of the Superintendent of Financial Institutions (OSFI) have recently announced guidance concerning the holding of crypto assets.A public… -
Financial Services Regulatory
FINTRAC Advisory Concerning Financial Transactions Related to High-Risk Countries Identified by FATF
On July 17, 2023, 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
Federally Regulated Private Pension Plans: OSFI Draft Advisory on Technology and Cyber Security Incident Reporting
In April 2023, the Office of the Superintendent of Financial Institutions (“OSFI”) identified cyber risk as a major issue to be addressed in its Annual Risk Outlook – Fiscal Year… -
Financial Services Regulatory
Budget Implementation Act: Key Changes for Financial Institutions
In Budget 2023, the Government of Canada announced its intentions to strengthen measures to protect financial institutions from foreign interference and efficiently address emerging risks to Canada’s… -
Financial Services Regulatory
Government of Canada Commences Consultation on Strengthening Canada’s Anti-Money Laundering and Anti-Terrorist Financing Regime
The Government of Canada has launched a public consultation to consider ways to improve Canada’s anti-money laundering and anti-terrorist financing regime (the “AML/ATF Regime”). A Consultation Paper… -
Banking and Financial Services
OSFI Announces New Guidelines to Manage Third Party Risks
The Office of the Superintendent of Financial Institutions (OSFI) has released its Guideline B-10 – Third-Party Risk Management (“Guideline”) for all federally regulated financial institutions…
News & Events
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- 06:30 PM Financial Services Regulatory
Francesca Guolo at Joint Staff Notice 23-329 on Short Selling in Canada
On the 8th of December 2022, The Canadian Securities Administrators (CSA) and the Investment Industry Regulatory Organization of Canada (IIROC) published a Joint Staff Notice 23-329 on Short Selling…