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Distribution of Financial Products and Services

Overview
Services
Professionals

Overview

The adoption of new legislative and regulatory measures, as well as the important issues relating to the control and distribution of financial products and services, call for highly specialized expertise and strategic assistance when setting up financial institutions and distribution networks for such products and services. Our team can advise you on the planning and completion of mergers, acquisitions, demutualizations and joint ventures involving financial institutions or other financial sector stakeholders as well as the implementation of strategic joint ventures and distribution, reinsurance and outsourcing agreements. As leading practitioners in professional regulatory and disciplinary law, we appear frequently before the civil courts and regulatory agencies. We advise and assist our clients in the context of litigation, investigations and searches. Lastly, we provide training to various stakeholders in the financial world, in particular with respect to the duties and obligations of representatives.

Lavery has dedicated professionals who can offer you integrated services for the carrying on of your operations and the introduction of new innovative financial products and services as well as provide you with preventive advice and defend you using their mastery of disciplinary, regulatory compliance and professional liability issues. Further to our experience acquired with the regulatory authorities, our multidisciplinary approach and the work we do in collaboration with our colleagues in the firm, we can quickly mobilize a team of lawyers that can help you achieve your objectives or find the best solution to the situation that you face.

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Services

  • Formation, organization and registration of all types of financial services providers, including banks, insurance companies, trust and loan corporations, agents, brokers and other financial services groups whether regulated or not
  • Creation of new financial products intended in particular for consortiums of insurers, mutual insurance companies and captive insurance and reinsurance companies
  • Merger, acquisition, reorganization and sale of financial institutions or other entities working in the financial products and services distribution field
  • Assistance with respect to matters of supervision and regulatory compliance
  • Drafting, translation, interpretation and compliance analysis of insurance, agency and brokerage contracts and reinsurance agreements
  • Setting up of financial services networks
  • Strategic alliances and outsourcing agreements
  • Electronic commerce, Internet and advanced technology, including joint ventures between technology providers and financial services providers
  • Protection of personal information and issues relating to tied-selling
  • Branches and representative offices of foreign institutions
  • Representation before regulatory agencies and obtaining of authorizations, registrations, certifications and permits
  • Representation of financial services firms with respect to legislative changes and important initiatives resulting from governmental policies
  • Securities law and the laws governing capital market infrastructures
  • Litigation involving regulated parties such as financial institutions, securities dealers, insurance firms and their representatives
  • Class actions
  • Opinions concerning insurance coverage
  • Services relating to regulations and services to corporations

OUR PRINCIPAL CLIENTS

  • American Income Life Insurance Company
  • Assurant Solutions
  • AXA Assistance Canada
  • National Bank of Canada and its subsidiaries (National Bank General Insurance, National Bank Life Insurance Company, National Bank Insurance Firm, National Bank Financial, National Bank Trust)
  • CNA Canada
  • Chambre de la sécurité financière
  • First Canadian Title Company Limited
  • Intact Insurance
  • Manulife Financial
  • Fondaction CSN
  • Fondation Universitas du Canada
  • Professional Liability Insurance Fund of the Barreau du Québec
  • Professional Liability Insurance Fund of the Chambre des notaires du Québec
  • Global Aerospace, Inc.
  • Industrial Alliance Insurance and Financial Services Inc. and its subsidiaries (Industrial Alliance Securities Inc., Excellence Life Insurance Company)
  • The British Aviation Insurance Company Limited
  • Liberty International Underwriters Canada
  • LS Mutual Insurance Company
  • Partner Reinsurance Europe Limited
  • Royal & Sun Alliance Insurance Company of Canada
  • Standard Life
  • Sun Life Financial

OUR MAJOR ACHIEVEMENTS

  • Various purchases and divestitures of national and foreign trust, leasing and information technology entities and retail branches, as well as transfers of mortgage and credit card loan portfolios by a Canadian bank
  • Acquisitions by insurance companies of Quebec registered insurance firms to expand their distribution network
  • Advising a portfolio manager to structure and implement the contractual framework required to carry on sub-management activities of equity portfolios
  • Spin-off of shareholder management services by a trust company
  • Structuring the offering of banking products and services within a financial conglomerate primarily specialized in life and health insurance and mutual funds distribution
  • Acquisition of a trust company by a federation of financial services cooperatives and conversion of this company into a financial services cooperative
  • Establishing a joint venture between a P&C insurance company and a Canadian bank for the direct selling of insurance products
  • Structuring the life and health insurance business of a Canadian bank
  • Re-engineering the product suite of a professional liability insurance fund
  • Compliance audits for insurance companies and Quebec registered insurance firms
  • Development of additional warranty programs for automobiles and other movable property
  • Providing representation as agent general in Quebec to numerous insurance and reinsurance companies
  • Representation of securities firms, mutual fund dealers, portfolio managers, investment fund managers and their representatives in disciplinary matters
  • Representation of defendant entities prosecuted for contravention to UMIR, market manipulation, insider trading, etc.
  • Training programs for securities dealer firms’ regulated personnel and representatives
  • Partial demutualization and conversion of a mutual life insurance company into a mutual management corporation controlling a capital stock life insurance company
  • Advising regulators, self-regulatory organizations and various industry-related participants and stakeholders with respect to legal, public policy and regulatory issues on the online distribution of insurance products
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