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Practice Area Definition

Banking and Finance Law Definition

The legal environment surrounding the provision of financial services is complex as advice can be provided to individuals or organizations that are borrowing, lending, or underwriting financial transactions. Lending is a large and important aspect of the banking and financial services practice area and may encompass offering small value loans to individuals to purchase their first home all the way up to multi-national financing or restructuring transactions.

What is required of lending agreements in such transactions will depend to a great extent on the use of the funds being advanced – whether to purchase assets, to be used for working capital, assist with corporate re-financing or re-organization, or for acquisitions. Agreements might be secured or unsecured, completed via a public or private debt instrument, or even carry a derivative component. A lender can be a private lender or an institutional government-regulated lender. Banks, insurance companies, trust companies, and pension fund managers are all examples of institutional lenders and may act alone or may act in syndicated transactions.

Lawyers in this area will need legal, business, and industry knowledge and expertise, along with strong negotiation skills. Transactions must be executed quickly, while still properly structured to minimize the risk of loss. Often, a lawyer must be able to work in tandem with counsel from other jurisdictions to properly manage cross-border transactions and a multitude of regulatory issues. Familiarity with the Bank Act as well as provincial legislation governing financial matters coupled with federal and provincial security registration and reporting requirements are essential skills.

Percival Odynak, QC
Duncan Craig LLP

Duncan Craig LLP logo

The legal environment surrounding the provision of financial services is complex as advice can be provided to individuals or organizations that are borrowing, lending, or underwriting financial transactions. Lending is a large and important aspect of the banking and financial services practice area and may encompass offering small value loans to individuals to purchase their first home all the way up to multi-national financing or restructuring transactions.

What is required of lending agreements in such transactions will depend to a great extent on the use of the funds being advanced – whether to purchase assets, to be used for working capital, assist with corporate re-financing or re-organization, or for acquisitions. Agreements might be secured or unsecured, completed via a public or private debt instrument, or even carry a derivative component. A lender can be a private lender or an institutional government-regulated lender. Banks, insurance companies, trust companies, and pension fund managers are all examples of institutional lenders and may act alone or may act in syndicated transactions.

Lawyers in this area will need legal, business, and industry knowledge and expertise, along with strong negotiation skills. Transactions must be executed quickly, while still properly structured to minimize the risk of loss. Often, a lawyer must be able to work in tandem with counsel from other jurisdictions to properly manage cross-border transactions and a multitude of regulatory issues. Familiarity with the Bank Act as well as provincial legislation governing financial matters coupled with federal and provincial security registration and reporting requirements are essential skills.