On May 31, 2018, the Toronto Stock Exchange (TSX) published for comment proposed amendments to the rules relating to special purpose acquisition corporations (SPACs). The proposed amendments would simplify the process of forming and listing a SPAC and completing a qualifying acquisition. Click here for more.

Welcome to the Latest in Banking. With the disruptive evolution that is underway, banks should consider how they can achieve more than just executing a real-time payment transaction. This means scaling efficiently with the changing ecosystem and growing their business through customer-focused innovation. Click here for more

The Asset Management industry, like all industries across financial services, is changing to adapt to customer preferences, digitization, and new and increasing regulatory requirements. We’re interested in knowing what your outlook for the industry is, and which areas you see as the biggest opportunities and risks. Please take a few minutes to complete this confidential survey.

Regulatory challenges for the financial services industry continue, and this means committing resources and investments to help manage risk. Regulator expectations when it comes to the strengthening of risk management governance, practices and reporting are intensifying, especially in the areas of cybersecurity and third-party risk management, conduct and culture. The adoption of new, innovative technology and automation will also factor into driving sustainable and effective change across these areas.

With highly autonomous vehicles heading for the road, many insurers may be underestimating the speed and severity of the change, and there will be impacts across the broader insurance and financial services industries. It’s expected that the insurance sector will go through a 'chaotic middle' over the next decade, characterized by rapid and fundamental changes to business models, disruptive competition and the adoption of new strategies. Along with the inherent risks, new markets, revenue streams and opportunities are also emerging.

In today’s ultra-competitive marketplace, successful companies don’t often miss great ideas or ignore different perspectives. It’s through diversity of thought that they’re able to have the greatest impact and achieve their greatest successes for all their stakeholders. Capabilities and top talent aren’t wasted; they’re embraced on management teams and in boardrooms alike.

In November 2017, Bill Ackman and his hedge fund Pershing Square Capital Management, L.P. (“Pershing Square”) lost a high-profile proxy battle against ADP, LLC (“ADP”). After disclosing Pershing Square had acquired an 8% interest in ADP, Ackman launched a proxy campaign to obtain three seats on the ten-person ADP board. During the campaign, Pershing Square suggested both sides use a “universal proxy card,” which is a single form of proxy listing all director candidates, regardless of whether they are nominated by management or the dissident shareholders.

On October 31, 2017, certain changes were made to the Corruption of Foreign Public Officials Act (CFPOA) – Canada’s international anti-bribery and corruption legislation – to make the payment of "facilitation payments" a criminal offence under Canadian law. As we discussed in our April 24, 2015 Update, Canadian Foreign Anti-Bribery Law, the CFPOA prohibits payments being made (or offered) to foreign public officials for the purpose of obtaining a commercial advantage, but included an exception to allow "facilitation payments".

Regulators have made clear their view that responsibility for the culture of a bank sits at the top; if senior management create the right culture, good regulatory practice and procedures will naturally follow. Following the financial crisis banks’ senior management have come under increasing regulatory scrutiny and in some jurisdictions proposals have been put forward to make it easier to make them accountable for their actions. To help you keep up to date with current developments, we have produced a comparative analysis of how senior management responsibility in banks is being treated in

Welcome to issue 9 of Norton Rose Fulbright’s International arbitration report. In this issue, we feature the exciting topic of innovation and disruption in international arbitration. We review the procedural and technological advances that are, or soon will be, changing international arbitration and dispute resolution more generally. Our lawyers track the global trends, risks and opportunities in this changing landscape. In our jargon-busting guide, we outline the most-hyped legal technologies such as Artificial Intelligence, Blockchain Technology and Smart Contracts.