The requirements and expectations of the Office of the Superintendent of Financial Institutions (OSFI) for those seeking to establish new financial institutions have increased significantly in recent years. It is crucial to have advisors with the right experience and expertise to provide guidance through the process of establishing a new incorporated financial institution or Canadian branch of a foreign financial institution from start to finish.
Well recognized for our understanding of the complex legislation and regulation covering financial institutions, we help achieve our clients' goals. For non-Canadian financial institutions, we deliver practical advice on how to structure operations and effectively adapt products and services for the Canadian market.
Our Financial Institutions Group is a leading advisor to financial institutions and other regulated and unregulated financial services providers in Canada.
Our clients include domestic and foreign banks, insurance companies, reinsurance companies, trust companies, fraternal benefit societies, deposit taking institutions, cooperatives, credit unions and other financial institutions.
We advise clients on all matters applicable to the formation, organization, ownership, governance and regulation of new financial services businesses, including:
- Establishment of new Canadian banks, insurance companies and trust companies
- Establishment of Canadian branches of foreign banks and foreign insurance companies
- Creation of unique insurance vehicles, including pools, reciprocals and captives
- Continuation of financial institutions under federal and provincial legislation
- Establishment and licensing of insurance agents and brokers