The 2021 Annotated Bank Act with Associated Regulations + CD

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Updated yearly, The 2021 Annotated Bank Act with Associated Regulations is the latest innovation in banking law guidance. This text explains, in simple language, each section of the federal Bank Act, and provides commentary on related regulations and caselaw.

This is the only softcover text available on the market that comprehensively cross references each section of the Bank Act to all current regulations, regulatory guidance from the Office of the Superintendent of Financial Institutions (OSFI), the Financial Consumer Agency of Canada (FCAC), the Canada Deposit Insurance Corporation (CDIC), and the Bank of Canada.

This edition also references all voluntary commitments and codes of conduct issued by the Canadian Bankers Association (CBA), and relevant guidance from the Investment Industry Regulatory Organization of Canada (IIROC). This essential resource for practitioners, academics, and financial institutions is co-authored by a senior economic policy advisor from Finance Canada, and a senior practitioner from Gowling WLP.

Features include:

  • Summary of the latest legislative and regulatory developments under a separate chapter entitled Recent Developments
  • Overview of each part of the Bank Act under a separate chapter entitled Key Elements of the Bank Act
  • Full text of the Bank Act and all associated regulations
  • Comprehensive table of regulatory guidance that cross references all relevant sections of the Bank Act, and includes all OSFI guidelines, advisories, rulings, letters, and guidance notes; FCAC Commissioner's Guidance and Bulletins; and CBA voluntary codes of conduct
  • Comprehensive table of case law, highlighting the latest cases for easy reference
  • Comprehensive table of concordance and index, updated annually

The 2021 Annotated Bank Act with Associated Regulations is an essential resource for anyone with an interest in the process for incorporating a bank, the rights of bank shareholders, the duties of bank directors and officers, the business of banking, consumer provisions, the ownership and investment rules, capital adequacy requirements, foreign banks, or bank holding companies.

New in this edition

  • Amendments to the Bank Act:
    • Part I Interpretations and applications
    • Part II Status and powers
    • Part III Incorporation and continuance
    • Part VI Corporate governance
    • Part VII Ownership
    • Part VIII Business and powers
    • Part IX Investments
    • Part X Capital, liquidity and capital to absorb losses
    • Part XI Self-dealing
    • Part XII Foreign banks
    • Part XII.1 Authorized foreign banks
    • Part XV Bank holding companies
  • Updates to the following regulations:
    • Complaints (banks, authorized foreign banks and external complaints bodies) Regulations, SOR/2013-48
    • Cost of Borrowing (authorized foreign banks) Regulations, SOR/2002-262
    • Cost of Borrowing (banks) Regulations, SOR/2001-101
    • Credit Business Practices (banks, authorized foreign banks, trust and loan company, retail associations, Canadian insurance companies, and foreign insurance companies) Regulations, SOR2009-257
    • Deposit Type Instrument Regulations, SOR 2011-98
    • Electronic Documents (Banks and Bank Holding Companies) Regulations, SOR 2010-239
    • Negative Option Billing Regulations, SOR/2012-23
    • Principal Protected Notes Regulations, SOR/2008-180
    • Registered Products Regulations, SOR/2011-99
  • New and updated regulatory and other guidance referred to in the annotations:
    • The annotations have been updated to reflect new and amended guidance from regulatory bodies, including the Canada Deposit Insurance Corporation, the Financial Consumer Agency of Canada, and the Office of the Superintendent of Financial Institutions
  • Significant recent decisions referred to in the annotations:
    • Sherry v. CIBC Mortgage Inc., 2020 BCCA 139, 2020 CarswellBC 1256
    • New Century Properties Ltd v. Bank of Montreal, 2020 ABQB, 2020 CarswellAlta 441
    • Duhamel v. Financial Institutions Commission, 2019 BCCA 399, 2019 CarswellBC 3313
    • HSBC Bank Canada v. Macaulay, 2019 ABQB 649, 2019 CarswellAlta 1737


Practice Area:
Finance & banking


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