OVERVIEW & EXPERTISE

 

Retail banking has been a significant and relatively stable income source for the global financial services industry throughout the financial crisis. However, the retail banking landscape is transforming due to rapid regulatory change, cross-border consolidations, M&A and new technologies. As financial services businesses attempt to focus on revenue growth, innovation, improved service and cost containment in this dynamic environment, they need to employ effective risk-management strategies and ensure regulatory compliance.

With Canada’s leading Financial Services practice, Blakes has the creativity, skill and experience required to help clients navigate the complex challenges they face. Applying our specialized consumer finance expertise, we counsel clients on their retail banking operations and products, regulatory compliance and day-to-day operations. The Blakes Financial Services group advises numerous financial institutions (including domestic and foreign banks, trust companies, loan companies and insurance companies), money-services businesses, consumer finance companies and other financial service providers on a wide variety of retail financial products and services, including payment products, deposit accounts, credit products, residential mortgage loans, insurance, credit reports and collections.

From a regulatory perspective, we have the largest and most active financial institution regulatory practice in Canada, allowing us to effectively advise clients on the current regulatory framework, as well as on any draft legislation and regulatory proposals that may affect them. Financial services businesses come to Blakes for advice on compliance with applicable legislation and related requirements, including consideration of federal/provincial jurisdictional issues; consumer protection legislation, including disclosure requirements for deposit accounts and credit products; e-commerce requirements; and guidance when marketing and distributing credit insurance products. Credit, debit and prepaid card issuers, processors, merchant acquirers and distributors rely on our particular expertise in the payment card, technologies and systems industry, specifically with respect to credit, debit, stored-value and gift cards, and electronic payments.

Blakes lawyers also advise on privacy, protection of personal information and credit reporting legislation; collection agency legislation and prohibited collection practices; anti-money laundering and anti-terrorist financing compliance; and codes of conduct of the Canadian Bankers Association and others. Additionally, we advise on corporate governance, consumer contracts and compliance when developing and modernizing financial products and services. Foreign-based clients retain us for advice when introducing financial products and services into Canada on a cross-border basis or through a Canadian-based business, and we regularly advise on portfolio acquisitions and sales.

Financial institutions also engage us when dealing with regulatory agencies and industry associations, including the Office of the Superintendent of Financial Institutions, the Financial Consumer Agency of Canada, the Financial Transactions Reports Analysis Centre of Canada, the Canada Deposit Insurance Corporation, and the Canadian Payments Association and applicable provincial regulators.

 

 PEOPLE

 
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Associate | Toronto
Toronto: 416-863-3337
Areas of Expertise: Financial Services Regulatory, Aviation/Aerospace, Banking, Consumer/Retail Financial Services, Insurance, Reinsurance, Payment Cards & Technologies, Residential Mortgage Business, Debt Finance & Lending
Partner | Toronto
Toronto: 416-863-4284
Areas of Expertise: Financial Services Regulatory, Insurance, Mergers & Acquisitions, Investment Products & Asset Management, Banking, Consumer/Retail Financial Services, Payment Cards & Technologies, Residential Mortgage Business, Reinsurance, Financial Services, Pension Funds Investment, Investment Funds, Investment Vehicles, Enterprise Risk & Crisis Response, Government & Public Sector, Fintech, Credit Unions
Associate | Toronto
Toronto: 416-863-3858
Areas of Expertise: Financial Services Regulatory, Anti-Money Laundering, Consumer/Retail Financial Services, Banking, Financial Services
Counsel | Montréal
Montréal: 514-982-4017
Areas of Expertise: Financial Services Regulatory, Consumer/Retail Financial Services, Residential Mortgage Business, Payment Cards & Technologies, Marketing & Health Regulatory, Banking, Insurance, Reinsurance, Lobbying, Financial Services, Fintech
Associate | Toronto
Toronto: 416-863-4236
Areas of Expertise: Financial Services Regulatory, Insurance, Banking, Consumer/Retail Financial Services, Payment Cards & Technologies
Associate | Toronto
Toronto: 416-863-3845
Areas of Expertise: Financial Services, Consumer/Retail Financial Services, Financial Services Regulatory, Payment Cards & Technologies
Partner | Toronto
Toronto: 416-863-5831
Areas of Expertise: Corporate & Commercial, Insurance, Financial Services Regulatory, Mergers & Acquisitions, Banking, Insurance Litigation, Consumer/Retail Financial Services, Reinsurance, Payment Cards & Technologies, Fintech, Credit Unions
Partner | Toronto
Toronto: 416-863-2667
Areas of Expertise: Information Technology, IP Licensing & Agreements, Technology, Outsourcing, Life Sciences, Communications, Cybersecurity, Enterprise Risk & Crisis Response, Fintech, Consumer/Retail Financial Services, Cannabis
Partner | Toronto
Toronto: 416-863-2956
Areas of Expertise: Financial Services Regulatory, Banking, Insurance, Reinsurance, Anti-Money Laundering, Consumer/Retail Financial Services, Payment Cards & Technologies, Residential Mortgage Business, Business Crimes, Investigations & Compliance, Lobbying, Cybersecurity, Government & Public Sector, Credit Unions
Law Clerk | Toronto
Toronto: 416-863-2182
Areas of Expertise: Financial Services, Financial Services Regulatory, Consumer/Retail Financial Services, Insurance, Aviation/Aerospace
Associate | Toronto
Toronto: 416-863-5272
Areas of Expertise: Financial Services Regulatory, Anti-Money Laundering, Consumer/Retail Financial Services, Payment Cards & Technologies, Corporate & Commercial, Banking, Insurance, Reinsurance
Associate | Toronto
Toronto: 416-863-5286
Areas of Expertise: Corporate & Commercial, Mergers & Acquisitions, Life Sciences, Financial Services, Retail & Consumer Products, Insurance, Pension Funds Investment, Consumer/Retail Financial Services
Partner | Toronto
Toronto: 416-863-2602
Areas of Expertise: Financial Services Regulatory, Consumer/Retail Financial Services, Payment Cards & Technologies, Corporate & Commercial, Banking, Anti-Money Laundering, Insurance, Equipment Financing, Fintech
Partner | Toronto
Toronto: 416-863-3290
Areas of Expertise: Financial Services Regulatory, Business Crimes, Investigations & Compliance, Banking, Anti-Money Laundering, Consumer/Retail Financial Services, Payment Cards & Technologies, Financial Services, Fintech, Credit Unions, Cannabis
Senior Counsel | Vancouver
Vancouver: 604-631-3361
Areas of Expertise: Debt Finance & Lending, Project Finance, Banking, Mining, Anti-Money Laundering, Consumer/Retail Financial Services, Residential Mortgage Business, Asset-Based Finance, Mining Lending, Mining Streaming & Royalties
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