Finance: Foreign Branching Legislation

• Airline Sector Policy
• Energy
• Finance: Bank Mergers
• Finance: Foreign Branching Legislation
• Finance: Taxation
• Infrastructure: Education
• Infrastructure: Health
• Research

Client

A U.S. bank wishing to expand services in Canada

Challenge

Proposed federal legislation permitting foreign banks to operate branches in Canada was drafted in such a way as to effectively preclude our client, a US bank, from taking advantage of the branching structure. The bank wanted the Federal Government to change several provisions of the proposed foreign bank branching legislation to allow it to operate through a branch structure.

Strategy

We developed and implemented a government relations strategy designed to bring our client's concerns about the proposed foreign branching legislation to the attention of key government decision-makers and influencers, and effect change in the proposed legislation to address these concerns. We identified and engaged key senior officials and political staff in the Department of Finance and federal financial oversight agencies. We developed and brought forward to these targeted individuals several practical solutions to each of the problem areas of the proposed legislation. We also worked with officials to develop proposals consistent with the Government's goals and responsive to our client's needs.

Results

Success. The federal government recognized the public policy arguments we presented. The legislation as implemented permitted our client to employ its branch structure in Canada.