The Gillman Professional Corporation Legislation and Regulation Practice has extensive experience navigating the legal and operational requirements imposed by regulatory authorities. Specifically, we provide counsel to financial institutions and their third party service providers on the multitude of new and existing corporate governance and risk management compliance obligations imposed by the federal and provincial regulators. We can assist financial institution clients with the following:

Governance and Compliance

• Compliance with the legislation, regulations, regulatory guidelines, bulletins, alerts, advisory letters, and voluntary codes
• Compliance with payment network rules
• Identification and monitoring of draft legislation and regulatory guidelines that affect the financial services industry
• Development, marketing and distribution of all types of retail financial services and products, including disclosure requirements and product documentation
• All types of payment products and related processing and distribution arrangements, including credit and debit card issuing and merchant acquiring, gift cards, stored value cards, prepaid payment products, e-wallet products, Internet payments, mobile payments, payment processing, co-brand and affinity programs
• Consumer protection, including privacy, confidentiality and data protection
• Corporate governance and risk management policies and systems, including legislative compliance management programs (OSFI Guideline E-13), mandates for the board, committees and senior officers and corporate governance self-assessments
• Outsourcing (third-party service provider agreements) (OSFI Guideline B-10)
• Assisting clients to respond to issues raised by regulators
• Diagnostic of existing compliance procedures (including relationships with third parties)
• Documentation of compliance efforts
• Credit reporting
• Marketing, third party contracts and distribution arrangements
• Regulation of collections activities and collection agencies

Anti-Money Laundering

• Application of Canada’s anti-money laundering and anti-terrorist financing legislation
• Development, implementation and review of policies and procedures to detect and deter money laundering and terrorist financing and to comply with requirements under Canada’s Proceeds of Crime (Money Laundering) and Terrorism Financing Act, including preparation of staff-training programs and materials.