Searching Content indexed under Capital Adequacy/BASEL by McMillan LLP ordered by Published Date Descending.
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China's Capital Controls - Implications For China Focused Companies
The statement was followed by further communication from SAFE, and other developments to slow renminbi (RMB) outflows...
10 Jan 2017
OSFI Publishes Letter On Plans To Update Capital Requirements For Residential Mortgages
The regulatory capital requirements are in place to mitigate the risk that federally regulated financial institutions face in loss scenarios.
22 Dec 2015
OSFI Releases Final Liquidity Adequacy Requirements Guideline – And Other Related Developments
The LAR Guideline deviates very little from the draft; no significant modifications to the substantive components were introduced.
22 Jul 2014
Bill S-5 (Financial System Review Act) Will Restore Priority Of Bank Act Security Over Unperfected PPSA Security Interests
On November 23, 2011, the federal government introduced Bill S-5 on the Senate floor as part of the five-yearly update and review process of legislation governing federally regulated financial institutions.
2 Jan 2012
OSFI Ruling On Credit Card Activities Clarifies Restrictions On Foreign Banks Carrying On Business In Canada
The Office of the Superintendent of Financial Institutions ("OSFI") recently confirmed that foreign banks undertaking activities in Canada in support of a foreign credit card program are not engaging in or carrying on business in Canada for the purposes of Part XII of the Bank Act (Canada) (the "Act").
7 Nov 2011
Final Regulations Announced Which Will Affect The On-Line Insurance Activities Of Deposit-Taking Financial Institutions
Further to the Banking and Insurance bulletin we circulated in March regarding the draft regulations that were introduced to restrict the types of authorized insurance products.
19 Oct 2011
Security Pledgees Need Not Hire Watson
When a bank accepts pledged shares, is it obligated to investigate the origin of the shares and how they came to be in possession of the party pledging them?
9 Aug 2011
When Good Lenders Meet Bad Borrowers
Financing is fraudulently obtained from Bank A and used to purchase assets. Those assets are then used as security by the fraudster to obtain credit with Bank B. Millions of dollars of debt later, the fraud is revealed. Which of these two innocent institutional victims is entitled to the proceeds from the pledged assets and which should bear the loss?
14 Sep 2009
House Of Lords Holds That A Bank Owes No Duty Of Care To Beneficiaries Of Mareva Orders
A British bank recently won a significant ruling regarding asset freezing orders (typically referred to as Mareva Orders).
21 Mar 2007
Class Actions Target Financial Institutions
A significant number of class actions certified by Canadian courts in the last few years have targeted financial institutions. Many of these class actions attack fees and other charges, which the plaintiffs allege are hidden from customers, or constitute usury.
20 Dec 2005
Important New Financial Reporting and Continuous Disclosure Requirements for Investment Funds
The Canadian Securities Administrators have recently released National Instrument 81-106 Investment Fund Continuous Disclosure (the "Instrument") and Companion Policy 81-106CP (the "Companion Policy"), along with Form 81-106F1 Contents of Annual and Interim Management Report of Fund Performance.
4 Apr 2005
"Check That Cheque" or be Left Holding the Bag
A recent Ontario Court of Appeal decision has highlighted again the perils facing banks which unwittingly negotiate fraudulent cheques. In Westboro Flooring and Décor Inc. v. Bank of Nova Scotia, the Court pinned the entire loss flowing from a fraudulent cheque scheme on the fraudster’s bank (the "Collecting Bank"), which had allowed the fraudster to deposit the fraudulent cheques into his account.
1 Apr 2005
The New Limitations Act - Its Impact Upon Demand Obligations
The new Ontario Limitations Act, 2002 (the Act), which came into effect in January 2004, reduces the limitation period for actions from six years to two years, subject only to specific exceptions.
29 Jun 2004
M&A Developments In Canada In 2003
Canadian corporations may be incorporated under a federal, provincial or territorial statute. These statutes regulate certain corporate transactions (including statutory amalgamations and plans of arrangement) and other extraordinary transactions (including the sale, lease or exchange of all or substantially all of the property of a corporation, liquidation and dissolution).
14 Apr 2004
OSFI Releases New Guideline for Federally Regulated Financial Institutions that Outsource Business Functions
The Office of the Superintendent of Financial Institutions ("OSFI") recently released for comment a draft of a new Guideline B-10 – Outsourcing of Business Functions. The new Guideline will apply to federally regulated financial institutions such as banks and insurance companies, subsidiaries and parent companies of such institutions, and foreign financial institution branches, as well as bank holding companies (collectively, for the purposes of this bulletin, "FRFIs")
4 Feb 2004
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