Overview
Torys has one of the leading banking regulatory practices in Canada. Having advised on the creation of numerous federally regulated financial institutions and the establishment of branches in Canada, we help clients navigate an increasingly complex regulatory landscape with clarity and confidence. Our lawyers provide strategic, business-focused advice across the full lifecycle of a financial institution, from establishment, licensing and governance arrangements, to M&A, distribution strategies, market conduct, and the launch of financial products.
We pride ourselves on our agility and unrivaled perspective with new and uncharted aspects of the banking business. We deal with regulators at all levels in Canada on a daily basis, including the Office of the Superintendent of Financial Institutions (OSFI), where some of our practitioners have spent time on secondment.
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Areas of Service
- Domestic banksTorys sets the benchmark as a trusted advisor to the Canadian banking industry. We have deep and longstanding relationships with domestic banks and their subsidiaries on significant lending, capital markets, regulatory and litigation mandates.
- Foreign banksWe help foreign banks establish and carry out business in Canada, providing counsel on structuring considerations, business and investment powers, related parties restrictions, and more.
- Credit unionsWe are focused on serving the needs of Canada’s credit union system, and have extensive experience helping credit unions broaden their business and transition from a provincial scope to national operations.Learn more
- Payments and cardsWe advise on all aspects of the sector, from payment and settlement systems to new digital payment solution platforms and card and loyalty programs. We have assisted clients opposite all of the card networks and payment processing service providers in implementing new technologies and business models.
- Financial services transactionsWe have acted on many of Canada’s most pivotal financial services transactions, including for Canada’s Big Six banks and other leading institutions in Canada and abroad. Our integrated team combines market-leading transactional and regulatory capabilities to help clients navigate the complex requirements that shape transactions in the sector.Learn more
- Consumer protectionWe bring deep experience in helping financial institutions both navigate Canada’s evolving consumer protection regulatory landscape and successfully meet federal and provincial consumer protection requirements.Learn more
- Anti-money launderingOur market-leading team guides both Canadian and international financial institutions on matters related to Canadian anti-money laundering and anti-terrorist financing regulations, including compliance, risk mitigation, and procedures and documentation.Learn more
- PrivacyPrivacy and cybersecurity are critical to banking operations. As cyber threats grow more sophisticated and regulatory requirements continue to evolve, we provide trusted counsel informed by extensive experience in privacy, cybersecurity, governance, regulatory matters and disputes.