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Gowlings is counsel to a wide range of financial services industry participants, including domestic and foreign banks, trust companies, insurance companies, insurance intermediaries, securities dealers and advisers, pension funds, government departments, regulators and industry associations.
Supported by professionals in areas such as tax, securities, anti-trust/competition, restructuring and insolvency, and information technology, the Financial Institutions Regulatory Group focuses on the following seven areas:
- Deposit taking Institutions
- Insurance (Life Insurance and Property & Casualty)
- Pensions
- Market Regulation
- Anti-Money Laundering and Anti-Terrorist Financing
- Government Relations and Public Policy
- Privacy
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Members of our group have held senior positions in government or with regulators. We have experience with all relevant government departments, agencies and regulatory authorities and have participated extensively in the development and drafting of the federal financial services reform legislation and associated regulations that provide the framework for financial services organizations doing business in Canada.
Our financial regulatory services include providing strategic advice and counsel to regulated financial institutions and other financial services sector participants on the following:
- Business powers
- Capital adequacy
- Corporate governance (including independent investigations where needed)
- Development and distribution of financial services products
- Establishment of a financial services business
- Fiduciary duties
- Financing transactions
- Foreign branches and subsidiaries
- Incorporation and organization of financial institutions
- Investment powers
- Licensing and approvals
- M&A and divestitures
- Market conduct and self-regulatory organizations
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- Outsourcing
- Ownership and investment constraints
- Product development and compliance with applicable laws
- Provincial licensing
- Regulatory compliance (including compliance training) and interpretation of legislation
- Reinsurance
- Responding to supervisory inspections, compliance reviews, investigations and regulatory proceedings
- Securitization best practices for financial institutions
- Segregated funds and variable annuities
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