financial services
acquisition financing
asset-based lending
banking and financial institution regulation
commercial real estate financing
derivatives
leasing and equipment finance
lending to municipalities, school boards and governments
securitization
syndicated lending
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financial services

Our Financial Services Group acts for Canadian and international financial institutions and borrowers in Canada and abroad on all types of financing transactions. Our expertise includes syndicated lending, asset-based lending, factoring, debtor-in-possession financings, sovereign credit, infrastructure and project financing, balance sheet enhancement and risk reduction techniques, government finance, domestic and cross-border leasing, structured instruments and over-the-counter and exchange-traded derivative products. Well recognized for our expertise in both domestic and international transactions, we routinely advise Canadian and international financial institutions on compliance with federal and provincial regulatory regimes. We also advise on, plan and implement merger and acquisition transactions and a wide range of capital markets transactions, including public equity and debt offerings, government finance, private placements and investment fund/structured product offerings. As a national firm, we are able to offer cross-Canada coverage for transactions, including the creation and perfection of security in Quebec and other jurisdictions. Members of our Financial Services Group are also active in financings relating to specific industry sectors, such as mining, aircraft finance, energy, life sciences and pharmaceuticals and automotive.


Publications / Presentations
April 2012
check those cheques: is the payee plausible?
financial services litigation bulletin
March 2012
advance notice by-laws – a tool to prevent a stealth proxy contest or ambush
securities bulletin
February 2012
collateral (un)damaged: Canadian regulators publish consultation paper on segregation and portability in OTC derivatives clearing
derivatives law bulletin
February 2012
international investment fund managers may need to register in Canada - revised registration requirements and exemptions for non-resident investment fund managers published for comment
securities and public markets bulletin
December 23, 2011
Supreme Court's unanimous ruling sinks Canadian Securities Act (but leaves much to be salvaged)
securities bulletin
December 2011
Bill S-5 (Financial System Review Act) will restore priority of bank act security over unperfected PPSA security interests
financial services bulletin
December 2011
California launches cap and trade – will other WCI jurisdictions follow?
energy and emissions trading bulletin
December 2011
implementation of reinsurance security agreements: an update and new guidance from OSFI
insurance bulletin
November 2011
conduct and consequence: Canadian regulators publish consultation paper on OTC derivatives market conduct rules, surveillance and enforcement
derivatives law bulletin
October 2011
OSFI ruling on credit card activities clarifies restrictions on foreign banks carrying on business in Canada
financial services bulletin
October 2011
what to do while you're waiting for regulatory reform: new exemption removes regulatory uncertainty for OTC derivatives trading in Canada
derivatives law bulletin
July 2011
security pledgees need not hire Watson
Financial Services Litigation Bulletin
June 2011
reporting for duty: Canadian regulators publish framework for OTC derivatives trade reporting and repositories
derivatives law bulletin
also published in TerraLex Connections enewsletter
June 2011
Financial Institutions Able to Deliver Documents by Electronic Means
National Banking Law Review
June 2011
whose bank account is it anyway? a bank's right to close an account against the customer's will
Litigation Bulletin
June 2011
'new' Canadian treaty eligibility forms – implication for cross border derivatives agreements
Banking Bulletin
June 2011
Proposed Regulations Affect the On-Line Insurance Activities of Deposit-Taking Financial Institutions
Internet and E-Commerce Law in Canada, Vol. 12, No. 2
Co-authors:  Stephanie Robinson and Ratika Gandhi
June 01, 2011
CRA Releases "New" Treaty Eligibility Forms – Are there New Compliance Obligations to be Met Before Applying a Treaty Reduced Rate of Withholding Tax?
Tax Bulletin
May 2011
further reforms to the registration regime in Canada
Investment Funds and Asset Management Bulletin
April 29, 2011
banks have right to hold tight in paying cheques: Ontario court holds that banks need not bear the risks of cheques being dishonoured
Financial Services Litigation Bulletin
March 2011
when banks' clients behave badly
Financial Services Litigation
March 2011
high yield debt returns!
Corporate Finance Bulletin
March 2011
financial institutions able to deliver documents by electronic means
Banking Bulletin
March 2011
proposed regulations affect the on-line insurance activities of deposit-taking financial institutions
Banking and Insurance Bulletin
February 2011
Dracula versus Peter Pan
Fictitious persons and banks' liability for cheque conversion
Financial Services Litigation Bulletin, also published in the National Banking Law Review, Vol. 30, No. 2
January 2011
Private Loans: disclosure of mortgage statements to third-party creditors violates PIPEDA
Financial Services Litigation Bulletin


John D. Morrison
604.691.7411
Cheryl Stacey
416.865.7243
David E. Thring
416.307.4028
Patrick Murray
613.232.7171 ext. 118
Judie Jokinen
514.987.5026