Open banking, the concept that would allow customers to share data held by their banks with third parties, such as other financial institutions or fintech companies in order to combine it with data from other sources to yield new benefits to those customers, is gaining traction around the world. But are Canadian FIs ready for it? Explore the concept and the compliance implications:
Anticipate and prepare for Open Banking and the Canadian regulatory response.
Prema Thiele is partner in the Toronto office of Borden Ladner Gervais LLP and is a member of the firm's Partnership Board. She practises corporate and commercial law, including securities law, insurance business law, and mergers and acquisitions. Prema is the Toronto Representative on BLG’s national Professional Committee (which administers BLG’s Professional Excellence Program).
Prema is a leading practitioner in the investment management industry, and represents several Canadian and non-Canadian capital markets participants on ongoing legal and compliance issues in respect of the provision of services, the distribution of securities and the establishment, operation and administration of investment products in Canada.
Prema is a native of Saskatoon, Saskatchewan.
Donna is a partner in the Toronto office of Borden Ladner Gervais LLP. Donna practices corporate law mainly in the securities and insurance industries, with an emphasis on investment management.
Donna provides advice to securities and insurance industry participants, including investment fund managers, dealers, investment advisers, insurance companies, insurance agents, insurance brokers and other insurance intermediaries, in connection with their day-to-day and their extraordinary activities and focuses on the regulatory, compliance, market conduct and governance issues they face as well as with transactional matters.
Selected by peers for inclusion in the 2019 edition (and since 2011) of The Best Lawyers in Canada® (Mutual Funds Law). Recipient of the 2014 Lexpert® Zenith Award (Corporate Finance and Securities).
Danielle is an experienced capital markets lawyer, risk manager and operations professional focusing her talent at creating a strong, positive operational and compliance culture for BloombergSen that promotes and reinforces best practises and integrity. Danielle’s career began as a lawyer in private practise before shifting to legal, compliance and operational roles with CIBC and UBS Canada between 1997 and 2008. In 2009 Danielle helped launch a Toronto based asset manager overseeing all operations. Danielle joined BloombergSen in 2015. Danielle graduated from law at the University of British Columbia at the top of her class and is called to the bar in both British Columbia and Ontario. Danielle has spoken at numerous industry events as an expert on regulatory compliance and operations in the Canadian alternative investment industry. Danielle is the Chair of the Canadian Chapter of 100 Women in Finance, a global organization of more than 15,000 women who collectively strive to make a difference in both industry and community. She is a past chair of the Managers Only Committee of AIMA Canada. Danielle is also a board member of Ridge Canada Cyber Solutions, a Canadian Managing General Insurance Agency providing cyber insurance products, consulting and loss control services to Canada’s insurance agents and brokers.