Financial Services Financial Services

FINTRAC gets flexible with new anti-money laundering requirements

Osler’s Elizabeth Sale and Haley Adams break down the substantial legislative amendments and FINTRAC’s comprehensive guidance documents aimed at...

What’s criminal? Lenders beware – amendments to Criminal Code under Bill C-274

An Act to amend the Criminal Code Bill-C-274 entered first reading in the House of Commons on May 11, 2021.

Canadian Financing Trends in 2021

A look back at the impact of COVID-19 on Canadian credit agreements and upcoming developments in 2021

Bank error in your favour – The $900 million wire transfer mistake: Practical implications in the Canadian lending context

In August 2020 an unprecedented black swan event occurred when Citibank N.A. (Citibank), acting as an administrative agent in a loan facility,...

Do lenders still have a duty of good faith? Supreme Court decides in Wastech

The SCC’s decision in Wastech, reaffirming the duty of good faith in the context of contractual discretionary rights, has important implications...

Legislative solutions to U.S. dollar LIBOR cessation

Contractual solutions to U.S. dollar LIBOR cessation are essential, but they may not be sufficient. Enter legislation. In this Update, we look at...

LIBOR endgame announced

The U.K.’s Financial Conduct Authority and ICE Benchmark Administration issued key announcements with regard to the future cessation and loss of...

New changes to the CDOR benchmark are on the horizon

Refinitiv, the administrator of the Canadian Dollar Offered Rate (CDOR), announced on November 12, 2020, that it will abandon the application of the...