Most Recent Publications
- Financial Services Client Update - November 2008 - Smooth Sailing Ahead for Credit Card Duality in Canada
In what some are appropriately calling a "sea change" in the Canadian credit card industry, the Competition Commissioner has formally announced that the Competition Bureau will no longer oppose duality of membership in credit card networks that operate in Canada. This announcement was made in a letter issued in November, 2008 to Canada's major credit card issuing banks and financial institutions, credit card networks and other interested parties.
- Liars, Thieves and Charlatans: How Do I Sue Thee? Let Me Count the Ways
A litigator's fraud fighting tool kit (...)
- Financial Services Client Update - November 2008 - OSFI Ruling Regarding a Canadian Subsidiary Assisting a Foreign Bank's Portfolio Management Services
The Office of the Superintendent of Financial Institutions (Canada) ("OSFI") has published a ruling that BLG obtained for one of its foreign bank clients that confirms that a Canadian entity that provides back office services to a foreign portfolio manager does not carry on a financial services business within the foreign bank regulation context (the "Ruling"). 1 This Ruling is of interest to foreign bank groups and their Canadian subsidiaries that wish to provide services to investment funds inside or outside Canada and that wish to have back office services provided from within Canada.
