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Parliament seeks to clarify priority between Bank Act and PPSA security interests

  • Heenan Blaikie LLP
  • -
  • Canada
  • -
  • January 11 2012

On November 23, 2011, the federal government proposed amendments to the Bank Act (the “Amendments”) which effectively overturn two Supreme Court of Canada (“SCC”) decisions in the area of banking and financial services law

Clarification to the right of prepayment under the Interest Act

  • Heenan Blaikie LLP
  • -
  • Canada
  • -
  • November 29 2011

The federal government recently introduced a new regulation (the “Regulation”) to the Interest Act which clarifies the application of what is commonly referred to as the “5-year rule.” The Regulation will come into force as of January 1, 2012

Bank of Canada and OSFI heads provide insight on regulatory reform; Mark Carney endorsed as next head of G-20’s Financial Stability Board

  • Heenan Blaikie LLP
  • -
  • Canada, Global
  • -
  • October 6 2011

In the aftermath of the 2008 financial crisis, the G-20 empowered the Financial Stability Board (“FSB”) with coordinating the overhaul of international banking regulations