Terry is a partner in the Financial Services Practice Group. His practice emphasizes regulatory and transactional matters involving financial service providers and suppliers to the financial sector. Terry frequently advises Canadian and non-Canadian financial institutions on the Canadian regulation of financial services, including the operation of credit, debit and payment card programs and other payment products and services, cost of credit disclosure, payments system issues and compliance matters. He is often retained to assist financial institutions and business clients with consumer credit transactions, commercial lending, outsourcing arrangements, anti-money laundering requirements and corporate governance. He has advised government and financial services industry clients on the development of legislation, transactions requiring regulatory approval, product development and regulatory compliance. Terry has acted as a special advisor in the financial institutions division of the Department of Finance Canada and as a senior advisor in the financial services policy branch of the Ontario Ministry of Finance. He also spent two years as in-house counsel in the Canadian offices of a multinational financial services conglomerate. In legal practice since 1983, Terry began his legal career at Cassels Brock and returned to the firm in 2004. Terry's experience includes: · Representing a Schedule II bank since its inception on regulatory compliance, outsourcing arrangements, corporate matters, its credit card program and other retail products · Advising a US-based multinational financial services company (and parent of a Canadian foreign bank subsidiary) on Canadian matters, the establishment of Canadian representative offices and the impact of Canadian financial institutions regulation · Advising a foreign bank on regulatory compliance in connection with its Canadian expansion and application to establish a Canadian branch, including the development of its anti-money laundering policy · Advising a major Schedule I bank on its standard documentation regarding correspondent banking and "white label" banking services provided to foreign banks (with or without Canadian presence) · Advising a leading supplier of electronic prepaid products on its Canadian expansion · Representing a US-based private equity investment firm in the Canadian financial institution regulatory aspects of two acquisitions of Canadian finance companies · Representing a Schedule I bank on its agreements to obtain outsourced banking services and back office support from another Schedule I bank and from a credit union central · Representing a Schedule II bank in its $650 million purchase of a credit card issuing business and portfolio · Advising US-based law firms and issuers of prepaid cards on Canadian payments system rules and consumer protection laws · Advising foreign banks and near-banks on requirements and applications for entry to the Canadian financial services sector Terry often writes for industry publications and speaks at industry events and seminars. His presentations and articles include: · Presentation on Good Governance: Solutions for Operational Risk Management, 17th Annual Regulatory Compliance for Financial Institutions conference, The Canadian Institute, November 16, 2011 · Presentation on Prepaid in Canada - Legal Landscape and Horizon, 4th Annual Gift & Prepaid Retreat, Global Prepaid Exchange, June 15, 2011 · Panellist, Coping with Dodd-Frank: The New Wave of Consolidation and the Merging of Business Cultures, Premier Forum on Regulatory Compliance & Risk Management for Financial Services, May 6, 2011 · Presentation on Cost of Credit Disclosure: Emerging Hurdles, Trends & Developments, Annual Forum on Payment Cards in Canada, The Canadian Institute, February 17, 2011 · Presentation on Implementing an Outsourcing Relationship in Compliance with OSFI Guideline B-10, Conference on Regulatory Compliance for Financial Institutions, The Canadian Institute, November 18, 2010 · Presentation on Evaluating the Impact of Key Legislative and Case Law Developments, 5th Annual Conference on Payment Cards in Canada, The Canadian Institute, February 23, 2010 · Author, A Guide to Canadian Money Laundering Legislation, 2009 Edition, LexisNexis, Markham, December 2008 · Presentation on Demystifying Cost of Credit Disclosure: Cross-Canada Insights and Concrete Examples, 3rd Annual Conference on Payment Card Compliance In Canada, The Canadian Institute, February 14, 2008 · Presentation on What You Need to Know About Money Laundering, Law Society of Upper Canada Teleseminar, September 3, 2007 · Presentation on New Products and New Issues: Understanding How Hybrid and Emerging Products Fit Into the Regulatory Scheme, 2nd Annual Conference on Payment Card Compliance in Canada, The Canadian Institute, February 15, 2007 · Presentation on New Products and New Issues: Understanding How Hybrid and Emerging Products Fit Into the Regulatory Scheme, 2nd Annual Conference on Payment Card Compliance in Canada, February 2007, Toronto (The Canadian Institute) · Revision of chapter Negotiable Instruments and Payment Mechanics in the CCH Commercial Law Guide, 2006 · Presentation on Examining the Different Types of Payment Cards and How They Fit into the Legislative Landscape, at the Payment Card Compliance in Canada conference, February 2006, Toronto (The Canadian Institute) · Co-leader and a course organizer for the Canadian Financial Institutions Regulation Course, February 2006 (and 2004, 2002, 2000, 1997, 1996), Toronto (Insight Information Inc.) · Presentation on Cost of Credit Disclosure at the Cassels Brock & Blackwell LLP client conference on Ontario's New Consumer Protection Act, June 2005 · Presentation on Outsourcing by Financial Institutions at the Financial Institutions Regulatory Compliance Summit, September 2004, Toronto (Insight Information Inc.) · Presentation on Canadian Payments System Developments, at the 7th Annual Conference on the Regulation of Financial Institutions, September 2002, Toronto, (Infonex) · Presentation on Capital Adequacy for Canadian Property and Casualty Insurers, at the conference on Capital Adequacy: Innovative and Emerging Capital Instruments, June 2002, Toronto (Insight Information Inc.) · Presentation on Special Rules Applicable to Foreign Banks, at the conference on Financial Institution Investment Powers: A Whole New Ball Game, November 2001, Toronto (Law Society of Upper Canada) · Co-chair of the conference on The Essential Curriculum in Banking Law and Practice, and presentation on Bill C-8: Financial Services Reform, October 2001, Toronto (Osgoode Hall Law School of York University Professional Development Program) · Presentation on Managing Risk When Outsourcing: Statutory and Supervisory Considerations, and a co-leader of the Compliance Workshop for the Banking Industry, at the Financial Institutions Regulatory Compliance Conference, September 2001, Toronto (Insight Information Inc.) · Author, An Overview of Banking Regulation in Canada, Global Banking and Financial Policy Review 2001/2002, Euromoney Yearbooks, 2001 Achievements · Fellow, American College of Consumer Financial Services Lawyers · The Best Lawyers in Canada 2012 (Banking & Finance Law) · Canadian Legal Lexpert Directory 2011 (Banking & Financial Institutions; Financial Institutions Regulation) · The Best Lawyers in Canada 2011 (Banking & Finance Law) · Canadian Legal Lexpert Directory 2010 (Financial Institutions Regulation) · Martindale-Hubbell, BV Distinguished™ rating · Canadian Legal Lexpert Directory 2009 (Financial Institutions Regulation) Associations · American Bar Association · Canadian Bar Association · Ontario Bar Association Representative Work Cassels Brock Acts For The Underwriters In Pacific & Western Credit Corp.'s $16.8 Million Offering Sun Life Sells Reinsurance Business to Berkshire Hathaway Publications and Resources Payment Cards - Recent Developments Federal Government Releases Consultation Paper on Leasing Framework In The News 09/20/2011, 23 Cassels Brock Lawyers Included in Best Lawyers® in Canada 2012 05/19/2011, 22 Cassels Brock Lawyers Named in Lexpert's 2011 Directory 08/25/2010, 24 Cassels Brock Lawyers Included in Best Lawyers® in Canada 2011 07/06/2010, Implementing an Outsourcing Relationship in Compliance With OSFI Guideline B-10 05/25/2010, 20 Cassels Brock Lawyers Named in Lexpert's 2010 Directory Presentations 06/14/2011, The Growth of Prepaid in Canada: Global Prepaid Exchange, Canadian Retreat, Niagara Falls, June 2011 05/06/2011, Delving Into the New Wave of Consolidation and the Merging of Business Cultures: How to Cope with the Changes (Forum on Regulatory Compliance & Risk Management for Financial Services, New York, May 2011) 02/17/2011, Cost of Credit Disclosure: Emerging Hurdles, Trends & Developments (Annual Forum on Payment Cards in Canada, Toronto, February, 2011) 07/06/2010, Implementing an Outsourcing Relationship in Compliance with OSFI Guideline B-10 02/23/2010, Evaluating the Impacts of Key Legislative and Case Law Developments 02/01/2006, Examining the Different Types of Payment Cards and How They Fit into the Legislative Landscape 09/01/2004, Outsourcing by Financial Institutions 09/01/2002, Canadian Payments System Developments 06/01/2002, Capital Adequacy for Canadian Property and Casualty Insurers 11/01/2001, Special Rules Applicable to Foreign Banks 10/01/2001, Bill C-8: Financial Services Reform 09/01/2001, Managing Risk When Outsourcing: Statutory and Supervisory Considerations Newsletters Competition Law & Financial Services e-LERT: Competition Bureau Takes Aim at Credit Card Companies' Fees Financial Services e-LERT: Payment Cards - Recent Developments The Transition to New Rules for Pre-Authorized Payment Plans |