Overview
Torys has one of the leading banking regulatory practices in Canada. We are the only Canadian law firm to be ranked in Band 1 for both Financial Services Regulatory and Insurance Regulatory by Chambers & Partners. Having been involved in the creation of numerous federally regulated financial institutions and establishment of branches in Canada, we give strategic counsel clients rely on through each stage of their development: from the establishment and licensing of a new business, governance arrangements and M&A, to distribution strategies and market conduct, as well as the launch of financial products, and more.
We pride ourselves on our agility and 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
- Anti-Money LaunderingWe are highly experienced in advising both Canadian and international financial institutions on matters related to Canadian anti-money laundering and anti-terrorist financing regulations, including compliance, risk identification and mitigation, and procedures and documentation.
- 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.
- 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
- 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.
- 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.
- TransactionsWe give clients in the banking sector holistic counsel covering all dimensions of the dealmaking landscape, including M&A, capital markets, banking and debt finance, tax and more.Learn more
- Disputes and InvestigationsFrom high-stakes claims to reputationally critical class actions and sensitive investigations, we have a decades-long track record of high-profile litigation experience in the banking sector.Learn more
- Advisory and RegulatoryWe guide financial institutions through an increasingly complex regulatory matrix, bringing clarity to legislative and compliance matters and sophisticated advisory services covering governance, ESG initiatives, privacy issues and more.Learn more