Stephen is a leading financial services lawyer, who provides clients with practical legal advice related to banking, financial institution regulation, fintech, payment cards and payment mechanisms. He is recognized nationally and internationally for his expertise in these areas.
Stephen has detailed knowledge of anti-money laundering, cost of borrowing, credit business practices, privacy and regulatory compliance requirements. He also has substantial expertise in payments products and co-branded cards tied to loyalty programs.
Stephen is the Co-Chair of the firm's Innovation Thought Leadership Committee and has extensive experience creating innovative and efficient solutions for clients, and using innovative tools and technologies. Stephen is also a member of the Derivatives group, which has been recognized as Global Capital’s Canadian Law Firm of the Year for derivatives, an award it has received every year since 2014.
Experience
- PayBright Inc., one of Canada’s leading buy-now-pay-later providers, in connection with its $340 million acquisition by Affirm, Inc., a leading U.S.-based “buy now, pay later” platform.
- Representing and advising financial institutions, including foreign banks, Schedule I, II and III banks, trust companies, investment dealers, mutual funds, Crown corporations, and other financial service companies and their affiliates in a wide range of ongoing regulatory and compliance matters.
- Has extensive experience under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act and in decisions from the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) in connection with financing, lending, payment card issuing, payment card processing businesses and money services businesses.
- Has particular experience under the Bank Act and the Trust and Loan Companies Act in applications to and orders and rulings from the Office of the Superintendent of Financial Institutions (OSFI).
- Has detailed knowledge of cost of borrowing, credit business practices, privacy and consumer protection regulatory compliance requirements
- Representing and advising financial institutions and other financial services providers with respect to payment card merchant processing, payment card issuing, consumer finance protection, outsourcing, reward programs, affinity programs and payments systems matters.
- Representing and advising issuer and acquirer clients and mobile wallet providers on the Code of Conduct for the Credit and Debit Card Industry in Canada as well as Interac, Visa, MasterCard and Canadian Payments Association rules and requirements, including the Automated Clearing and Settlement System and the Large Value Transfer System.
- Advising clients with respect to new mobile and online financial products and services including partnerships with financial institutions, FinTech organizations and other new and innovative financial services developments.
- Representing lenders and borrowers in numerous secured and unsecured financing transactions; particular experience in syndicated loans, cross-border loans, asset-based loans, project finance, loans relating to acquisitions and loans to agri-business.
- Representing and advising financial institutions and corporations with respect to structured finance transactions and asset securitizations, including CMBS, MBS and rental portfolios, and the servicing and restructuring of securitization conduits.
- Since inception in 2001, representing Canada Mortgage and Housing Corporation and Canada Housing Trust No. 1 with respect to and structuring the leading Canadian mortgage-based securitization program, the Canada Mortgage Bond Program.
- Since inception in 2008, representing Canada Mortgage and Housing Corporation with respect to and structuring the $125-billion emergency bank funding Insured Mortgage Purchase Program involving purchases of insured mortgage pools from Canadian financial institutions.
- Representing and advising banks, credit unions and other financial institutions, mutual funds, investment funds, corporations, municipalities, and hospitals with respect to derivatives transactions, including credit default swaps, equity forwards, commodity swaps, total return swaps and conventional swaps.
- PayBright Inc., one of Canada’s leading buy-now-pay-later providers, in connection with its $340 million acquisition by Affirm, Inc., a leading U.S.-based “buy now, pay later” platform.
- Representing and advising financial institutions, including foreign banks, Schedule I, II and III banks, trust companies, investment dealers, mutual funds, Crown corporations, and other financial service companies and their affiliates in a wide range of ongoing regulatory and compliance matters.
- Has extensive experience under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act and in decisions from the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) in connection with financing, lending, payment card issuing, payment card processing businesses and money services businesses.
- Has particular experience under the Bank Act and the Trust and Loan Companies Act in applications to and orders and rulings from the Office of the Superintendent of Financial Institutions (OSFI).
- Has detailed knowledge of cost of borrowing, credit business practices, privacy and consumer protection regulatory compliance requirements
- Representing and advising financial institutions and other financial services providers with respect to payment card merchant processing, payment card issuing, consumer finance protection, outsourcing, reward programs, affinity programs and payments systems matters.
- Representing and advising issuer and acquirer clients and mobile wallet providers on the Code of Conduct for the Credit and Debit Card Industry in Canada as well as Interac, Visa, MasterCard and Canadian Payments Association rules and requirements, including the Automated Clearing and Settlement System and the Large Value Transfer System.
- Advising clients with respect to new mobile and online financial products and services including partnerships with financial institutions, FinTech organizations and other new and innovative financial services developments.
- Representing lenders and borrowers in numerous secured and unsecured financing transactions; particular experience in syndicated loans, cross-border loans, asset-based loans, project finance, loans relating to acquisitions and loans to agri-business.
- Representing and advising financial institutions and corporations with respect to structured finance transactions and asset securitizations, including CMBS, MBS and rental portfolios, and the servicing and restructuring of securitization conduits.
- Since inception in 2001, representing Canada Mortgage and Housing Corporation and Canada Housing Trust No. 1 with respect to and structuring the leading Canadian mortgage-based securitization program, the Canada Mortgage Bond Program.
- Since inception in 2008, representing Canada Mortgage and Housing Corporation with respect to and structuring the $125-billion emergency bank funding Insured Mortgage Purchase Program involving purchases of insured mortgage pools from Canadian financial institutions.
- Representing and advising banks, credit unions and other financial institutions, mutual funds, investment funds, corporations, municipalities, and hospitals with respect to derivatives transactions, including credit default swaps, equity forwards, commodity swaps, total return swaps and conventional swaps.
