Frank Palmay, P.Eng. 

Co-Chair, Financial Services Regulatory and Cybersecurity
Toronto  t: 416.307.4037  |  e: frank.palmay@mcmillan.ca

Frank Palmay, P.Eng.

Toronto
Brookfield Place, Suite 4400
181 Bay Street
Toronto, Ontario M5J 2T3

t: 416.307.4037
e: frank.palmay@mcmillan.ca

overview

  • Partner as of 1981

Frank Palmay is a partner in the firm's Toronto office. Frank's practice consists of general corporate and commercial law with particular emphasis on insurance matters, health, technology and mining exploration. In the insurance area, Frank has advised on insurance and reinsurance company acquisitions, domestications and reorganizations; policy drafting and review and regulatory approvals; direct marketing; strategic planning and coverage issues. For a number of years, Frank has also advised several organizations in the not for profit and in the health care sector, providing counsel on a wide range of areas including governance, strategic alliances and general commercial matters.

In the mining sector, Frank Palmay has advised on exploration and mining projects in Canada, the United States, Ecuador, Cuba, Iceland, Greenland and Kazakhstan. Frank also has advised venture capital companies, Crown corporations, manufacturers and research companies on technology and commercial matters.

Frank is a prolific author and writes regularly for the firm's bulletin Gain Insight. In 2014, Mondaq named Frank a top contributor, ranking within the top 20 per cent of all authors internationally, for his articles on insurance, privacy and data protection, and corporate and commercial law.

Representative Matters

Frank Palmay has acted in the following regulatory insurance, corporate insurance, mining, health, commercial, and technology matters:

  • Frank oversees the firm's collaboration with Ethidex Inc.'s offering of Risk Manager® a web based risk management and legislative compliance tool for insurance companies
  • Acted as Canadian regulatory counsel for a European based insurer in the sale of its worldwide reinsurance business for US$1.6 billion
  • Advised Médicins Sans Frontières (Doctors Wtithout Borders) on risk management practices for their clinical trial programs – pro bono
  • Acted for The Royal Conservatory of Music on its joint venture with Carnegie Hall to establish The Carnegie Hall Royal Conservatory Achievement Program throughout the United States 
  • Advised an Ontario hospital on coverage issue arising from a c-dificile breakout
  • Acted for BBM Canada on its joint venture with Nielsen Media Research to form BBM Nielsen Inc., which eliminated the duplication of television audience data collection in Canada
  • Acted for a Canadian property and casualty insurer in its post-acquisition reorganization of a nationwide insurer
  • Since their inception, Frank has been responsible for leading the firm team in its representation of a number of the Community Care Access Centres in the greater Toronto region for whom we are now general counsel providing advice on a wide range of areas including governance, RFP's, employment/labour matters, service and privacy issues and general commercial matters
  • Advised the Ontario primary health care doctors on the implementation of Ontario's first tele-health initiative and worked closely with the Ontario Medical Association and the Ontario Ministry of Health and Long Term Care
  • Represented three Ontario acute care hospitals and a university on matters related to the liquidation of Confederation Life

Presentations

Breach Response from an Interdisciplinary View with Steve McGeown and Joe Molnar (Moderated panel)
Mitigation and Risk Transfer (Panel discussion with Bruce McWiliam, Darcy Ammernan and Jeffrey Nagashima)
What you need to know about Corporate Governance in 2016
The 10 Most Important Issues General Counsel Should Know About Risk Transfer Involving Insurance
The Cyber Security Readiness of Canadian Organizations
Canada – Your NAFTA Gateway into the North American Market
Doing Business in Canada
Bullet-Proofing your Board
Sound Business Practices in Managing Financial Crime

Publications

Ransomware and Its Spawns
Cybersecurity – The Legal Landscape in Canada
Ransomware and its Spawns
Ransomware: The Risks Are All Too Real
McMillan Cybersecurity Article Series
Cyber-Risk – The Electronic Ebola of the 21st Century
IBA Insurance Committee Substantive Project 2014: The Duty of Utmost Good Faith: Canada
Recent Quebec Manulife decision – Canary in the coalmine?
Conditions, Conditions Precedent and the Relief from Forfeiture - The Tide is Shifting
seven corporate sins as a source of government revenue and economic stimulus1
Coventree D & O coverage – important lessons to be learned
Dealing with participating funds – round 2 is final
Fraud and Misconduct by Financial Intermediaries
Risky business: doing business in near-failed and failed states

News

Margaret McNee recognized as Mutual Funds Lawyer of the Year, along with 58 McMillan Lawyers in the 2018 Best Lawyers in Canada Report
McMillan lawyers are well represented in the 2017 edition of Chambers Canada
61 McMillan lawyers recognized in The Best Lawyers in Canada 2017
McMillan lawyers are well represented in inaugural edition of Chambers Canada
60 McMillan lawyers recognized in the 10th Edition of The Best Lawyers in Canada
McMillan lawyers recognized in the 2015 Best Lawyers in Canada
Frank Palmay appointed a practice group leader of Terralex
47 McMillan lawyers recognized in the 2013 Best Lawyers in Canada

Education

  • University of Toronto, JD - 1976
  • University of Sussex, M.Phil. (Biomedical Engineering) (Commonwealth Scholar) - 1974
  • University of Toronto, B.A.Sc. (Engineering Science) (Gold Medal) - 1972

Year Of Call

  • Called to the Ontario bar - 1978

Practices

insurance
regulatory compliance
charities and not-for-profit
corporate governance
business law
business formation
licensing
financial services
cybersecurity

Industries

insurance
banking, finance and insurance
mining

Directorships and Professional Associations

Frank Palmay is currently a director and a member of the Corporate Governance Committee of Omega General Insurance Company. He is also the Chair of Lifeline Syria, a not-for-profit organization.

Frank previously served as a director and as chair of the Compensation Committee of Synergistics Inc. a public company with manufacturing facilities in Canada and the United States.

  • Association of Professional Engineers of Ontario
  • Hungarian Canadian Bar Association (Founding Member)
  • Ultimate Corporate Counsel Guide Customer Advisory Board Member
  • Canadian Bar Association
  • Ontario Bar Association

Teaching Engagements

  • Frank frequently writes and lectures on insurance, risk management and corporate governance and has lectured on engineering, environmental and nuclear law, law office management and corporate matters.

Community Involvement

Frank is the Chair of Lifeline Syria – a community inspired organization facilitating the sponsorship of Syrian refugees to the GTA. Frank previously served as a Trustee of Holland Bloorview Kid's Rehabilitation Hospital (formerly Bloorview MacMillan Children's Centre), and was Chair of its Governance Committee and a member of its Executive and Research Committees; was formerly a director and chair of Providence Centre (hospital and home for the aged); and was a founding member of Save the Mothers a charity devoted to partnering to improve the lives of mothers in the developing world.

Awards & Rankings

  • Listed in The Best Lawyers in Canada 2018 as a leader in Corporate Law and Insurance Law
  • Listed in Chambers Canada 2017 as a leader in Insurance
  • Practical Law Company's PLC Cross-border Insurance and Reinsurance Handbook 2010 as a recommended practitioner
  • Received an "AV" Peer Review Rating, the highest rating awarded from Martindale-Hubbell
vcard
  • Partner as of 1981

Frank Palmay is a partner in the firm's Toronto office. Frank's practice consists of general corporate and commercial law with particular emphasis on insurance matters, health, technology and mining exploration. In the insurance area, Frank has advised on insurance and reinsurance company acquisitions, domestications and reorganizations; policy drafting and review and regulatory approvals; direct marketing; strategic planning and coverage issues. For a number of years, Frank has also advised several organizations in the not for profit and in the health care sector, providing counsel on a wide range of areas including governance, strategic alliances and general commercial matters.

In the mining sector, Frank Palmay has advised on exploration and mining projects in Canada, the United States, Ecuador, Cuba, Iceland, Greenland and Kazakhstan. Frank also has advised venture capital companies, Crown corporations, manufacturers and research companies on technology and commercial matters.

Frank is a prolific author and writes regularly for the firm's bulletin Gain Insight. In 2014, Mondaq named Frank a top contributor, ranking within the top 20 per cent of all authors internationally, for his articles on insurance, privacy and data protection, and corporate and commercial law.

Frank Palmay has acted in the following regulatory insurance, corporate insurance, mining, health, commercial, and technology matters:

  • Frank oversees the firm's collaboration with Ethidex Inc.'s offering of Risk Manager® a web based risk management and legislative compliance tool for insurance companies
  • Acted as Canadian regulatory counsel for a European based insurer in the sale of its worldwide reinsurance business for US$1.6 billion
  • Advised Médicins Sans Frontières (Doctors Wtithout Borders) on risk management practices for their clinical trial programs – pro bono
  • Acted for The Royal Conservatory of Music on its joint venture with Carnegie Hall to establish The Carnegie Hall Royal Conservatory Achievement Program throughout the United States 
  • Advised an Ontario hospital on coverage issue arising from a c-dificile breakout
  • Acted for BBM Canada on its joint venture with Nielsen Media Research to form BBM Nielsen Inc., which eliminated the duplication of television audience data collection in Canada
  • Acted for a Canadian property and casualty insurer in its post-acquisition reorganization of a nationwide insurer
  • Since their inception, Frank has been responsible for leading the firm team in its representation of a number of the Community Care Access Centres in the greater Toronto region for whom we are now general counsel providing advice on a wide range of areas including governance, RFP's, employment/labour matters, service and privacy issues and general commercial matters
  • Advised the Ontario primary health care doctors on the implementation of Ontario's first tele-health initiative and worked closely with the Ontario Medical Association and the Ontario Ministry of Health and Long Term Care
  • Represented three Ontario acute care hospitals and a university on matters related to the liquidation of Confederation Life
November 2017
Ransomware and Its Spawns

Canadian Privacy Law Review

October 2017
Cybersecurity – The Legal Landscape in Canada

Cybersecurity Bulletin

August 2017
Ransomware and its Spawns

 (McMillan Internal)

June 2017
Ransomware: The Risks Are All Too Real

(McMillan Internal Article)

November 2016
McMillan Cybersecurity Article Series

McMillan LLP

November 2015
Increasing Corporate Penalties and Risk Management
Ultimate Corporate Counsel Guide
December 2, 2014
Know Your Regulator
International Law Office – Insurance Canada Newsletter
October 2014
Know Your Regulator
TerraLex Connections Newsletter
August 2014
IBA Insurance Committee Substantive Project 2014: The Duty of Utmost Good Faith: Canada
Member of the McMillan Insurance Team who provided the responses for Canada (Civil Law and Common Law) to the 2014 survey on the topic of The Duty of Utmost Good Faith, International Bar Association, 2014 Annual Conference, Tokyo, Japan
October 2013
IBA Insurance Committee Substantive Project 2013: The Legal Nature of Insurance Contracts

Member of the McMillan Insurance Team who provided the responses to the 2013 survey regarding the legal nature of insurance contracts under Canadian Civil Law and Common Law, International Bar Association, 2013 Annual Conference, Boston

May 2012
Fraud and Misconduct by Financial Intermediaries
Article written by Frank Palmay & Assunta Di Lorenzo - prepared for CLHIA 2012 Compliance and Consumer Complaints Annual Conference
November 14, 2017
Hot topics for Cybersecurity – Ransomware, Insurance
McMillan's Second Annual Privacy, Cybersecurity and Data Protection Seminar, Toronto, Ontario
November 2016
Breach Response from an Interdisciplinary View with Steve McGeown and Joe Molnar (Moderated panel)
McMillan Client Seminar: Privacy, Data Protection and Cybersecurity in Canada , Toronto, Ontario
November 2016
Mitigation and Risk Transfer (Panel discussion with Bruce McWiliam, Darcy Ammernan and Jeffrey Nagashima)
McMillan Client Seminar: Privacy, Data Protection and Cybersecurity in Canada, Toronto, Ontario
May 2016
What you need to know about Corporate Governance in 2016
LexisNexis Webinar
April 27, 2016
The 10 Most Important Issues General Counsel Should Know About Risk Transfer Involving Insurance
Canadian Corporate Counsel Association, Webinar
April 2016
The Cyber Security Readiness of Canadian Organizations
Hispanotech Exclusive Networking Event, Toronto, Ontario
November 2, 2015
Canada – Your NAFTA Gateway into the North American Market
Presented at a seminary co-hosted by Ernst & Young and Duane Morris & Selvam, Shanghai, China
October 27, 2015
Doing Business in Canada
Presentation to clients and lawyers of Duane Morris & Selvam, Singapore
September 27, 2012
Bullet-Proofing your Board
Presented with Frank Palmay, Markus Koehnen and William Sheridan, McMillan CPD Lecture Series
May 2012
Sound Business Practices in Managing Financial Crime
Presented with Assunta Di Lorenzo and Robert Walsh of AXA Group - CLHIA 2012 Compliance and Consumer Complaints Annual Conference, Montreal, Quebec