News

Brigitte Gauthier and Luc Thibaudeau, associates in the Business Law and Litigation groups, respectively, are providing a series of three training sessions for counsel at the National Bank of Canada on the impact of the Act mainly to modernize rules relating to consumer credit and to regulate debt settlement service contracts, high-cost credit contracts and loyalty programs (the “Bill”). At the sessions, Ms. Gauthier and Mr. Thibaudeau work with National Bank of Canada lawyers on analyzing the various issues that arise under the new provisions of the Consumer Protection Act in relation to consumer credit, and other amendments to the Act proposed in the Bill. The first two sessions were held this past December and January, and the next will take place on March 1. Other meetings are planned to take place after the Government publishes the new regulations that will be put in place once the Bill comes into force.

Lavery is pleased to announce the arrival of a new partner, Eric Stevenson, who is joining the Business Law group at our Québec office. Eric’s leading expertise will increase the quality and depth of Lavery’s consulting and representation service offering, in particular with its financial sector clients and stakeholders. For Eric Stevenson, this represents a return to his roots, given that he worked for the firm prior to joining the Autorité des marchés financiers (AMF). A professional who has an outstanding reputation and whose leading expertise and keen knowledge are renowned in Québec, Canada and abroad Until just recently, Eric Stevenson was the superintendent, client services and distribution oversight at the AMF.He lead a team of 150 employees with the mandate of overseeing the activities relating to the distribution of financial services and products in Québec all in the while establishing the regulatory framework governing this sector of activities. His role also included issuing exercise rights to insurance and securities operators. Eric was also in charge of the AMF team tasked with evaluating the integrity of companies and their directors who were seeking to conclude agreements with the Québec government and granting the requested authorization, when applicable. Eric Stevenson has represented the AMF before several key organisations in particular by serving as a member of the market intermediaries’ commission of the International Organization of Securities Commissions. He also presided or took part in numerous committees of the Canadian Council of Insurance Regulators as well as served on several committees of the Canadian securities regulatory authorities. “Coming back to Lavery was an evident choice considering that the firm benefits from an outstanding reputation and the financial sector’s stakeholders regularly recognize the excellence of its integrated legal services offering”, says Eric Stevenson. “I am delighted to rejoin a consulting team that is devoted to offering a memorable client-based approach that is well-rooted in a deep understanding of the client’s actual business reality. I am also eager to help Lavery’s current and future clients benefit from my knowledge andvast network of contacts that I had the privilege to develop over the past years.” A leadership connected to the client’s business reality coinciding with Lavery’s vision “As a seasoned attorney, experienced manager and a proven strategist, Eric’s profile, rooted in the realities of the financial industry, is well suited to meet our client’s expectations. With a unique career path, Eric will leverage his leadership and know-how to play an active part in Lavery’s role as a leader of transformation in Québec’s legal market. We are especially proud of the fact that he has chosen Lavery and our Québec City office as a re-entry point into the professional services sector. Eric’s return to Lavery is a testament to the firm’s power to attract exceptional talents”, concludes Anik Trudel, Lavery’s Chief Executive Office.

Associate Laurence Bich-Carrière and partner Luc Thibaudeau, of the Litigation and Conflict Resolution group, wrapped up the Cycle de conférences 2016-2017 organized by the Fondation Claude-Masse with a presentation on “Le mythe de Sisyphe et le consommateur heureux: la nécessité d'une législation efficace en matière de crédit à la consummation”. Held at the Université de Montréal Faculty of Law on April 12, the conference cycle discussed the myths and mysteries surrounding consumer law. Ms. Bich-Carrière and Mr. Thibaudeau reviewed the bases and functioning of modern consumer credit mechanisms measured against the statistical reality of Canadian consumer debt level, and sought to identify avenues to allow access to responsible consumer credit while ensuring that the consumer goods and services sector remains financially healthy and functions effectively.

On October 13, 2016, Lavery’s Distribution of Financial Products and Services team held a private panel-discussion event where the future of self-regulation in the financial sector in Quebec within the context of the new reforms was discussed.Jean Martel, Ad. E., a partner at the firm, moderated the panel that was made up of Marie-Élaine Farley, President and CEO of the Chambre de la sécurité financière, Claudyne Bienvenu, Vice-President of the Investment Industry Regulatory Organization of Canada for Quebec, and Maya Raic, President and CEO of the Chambre de l’assurance de dommages. Close to 90 people participated in the event and contributed to its success.