by torrielaw | Mar 16, 2024 | Banking
Within the Bank Act of Canada, Part VI—Corporate Governance, provides explicit guidelines concerning the governance structure of financial institutions. In particular, Sections 193 to 195 guide the establishment and functions of various committees composed of...
by torrielaw | Feb 13, 2024 | Banking
The Bank Act expressly addresses corporate governance principles within the banking sector in Part VI—Corporate Governance. This post focuses on section 157, as discussed in The 2024 Annotated Bank Act (Thomson Reuters, 2023), dissecting the key components that govern...
by torrielaw | Jan 13, 2024 | Banking
Within the Bank Act, Part III–Incorporation and Continuance lays the groundwork for establishing and modifying banks and federal credit unions. This post will explore the incorporation process, the unique requirements for federal credit unions, and the transitional...
by torrielaw | Dec 11, 2023 | Banking
Banks are utilized daily and form a vital pillar throughout Canadian society by facilitating essential financial services. Their existence is so ingrained into society that the top six deposit-taking institutions within Canada are declared as “Domestic systemically...
by torrielaw | Nov 16, 2023 | Banking
Incorporating banks and federally regulated credit unions requires the approval of the Minister of Finance and the Office of the Superintendent of Financial Institutions (OSFI), as regulated by Part III—Incorporation and Continuance of the Bank Act. This post will...
by torrielaw | Oct 15, 2023 | Banking
In the ever-evolving landscape of business and personal finance, Canadians seek reliable and community-oriented financial institutions that prioritize their needs and promote economic well-being. While banks are one of the key institutions in this landscape, credit...
