EXPERTISE

DISTRIBUTION OF FINANCIAL PRODUCTS AND SERVICES

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. Specialists 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 experts 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 specialists 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 Insurance
  • National Bank of Canada and its subsidiaries (National Bank General Insurance, National Bank Life Insurance Company, National Bank Insurance Firm, National Bank Financial, Natcan Investment Management Inc., National Bank Trust)
  • CNA Canada
  • Chambre de la sécurité financière
  • First Canadian Title Company Limited
  • 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
  • Partner Reinsurance Europe Limited
  • Royal & Sun Alliance Insurance Company of Canada
  • Standard Life
  • Sun Life Financial
     

OUR MAJOR ACHIEVEMENTS

  • Acquisition and sale by a Canadian bank of banking branches, mortgage loans, credit cards as well as trust, leasing, technology and foreign companies.
  • Acquisition by an insurer of insurance firm networks.
  • Negotiation and conclusion by a portfolio manager of a sub-management agreement covering the management of certain share portfolios.
  • Sale by a trust company of its shareholder management services.
  • Important agreement related to the distribution of banking products and services for a financial group specialized in mutual funds and insurance of persons.
  • Acquisition by a federation of financial services cooperatives of a trust company to convert it into a financial services cooperative.
  • Establishment by a Canadian bank of a joint venture with an insurer for direct sales of damage insurance.
  • Legal organization of the structure to be used by a Canadian bank to distribute personal insurance.
  • Updating of the insurance program provided by a professional liability insurance fund.
  • Analyses of compliance by insurers and insurance firms with the requirements of Quebec law.
  • Additional warranty programs for automobiles and other movable property.
  • Principal representative in Quebec for several insurers and reinsurers.
  • Representation of securities dealers and representatives in litigation raising issues of risk tolerance, know your client (KYC) and know your product (KYP).
  • Defending representatives in relation to allegations of stock manipulation or insider trading.
  • Exemptions for securities dealers’ representatives from training in relation to their duties and obligations.
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Professionals

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LAVERY AT A GLANCE

An independent law firm, offering the full range of legal services to business. 175 lawyers in Montreal, Quebec City and Ottawa. Member of the World Services Group, an international network of service firms with offices in 120 countries.

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