overview
Gerald Badali is a member of the firm's Financial Services Group. His practice areas include corporate/commercial work with a particular emphasis on regulatory and insurance matters.
Gerald has been advising on regulatory and insurance issues in excess of thirty years, both at the federal and provincial levels, representing insurance companies, banks, payment card companies, automobile manufacturers/distributors, vehicle rental companies, marketing corporations, telecoms and others. His practice in this area focuses on product development and marketing as well as on regulatory compliance under federal, provincial and territorial insurance legislation, the Bank Act (Canada) and its regulations, consumer protection legislation across Canada, Canada's anti-money laundering and anti-terrorist financing legislation, etc. He is a Chief Agent in Ontario and is a former member of the Legal Advisory Committee of the former Financial Services Commission of Ontario (now the Financial Services Regulatory Authority).
Representative Matters
Financial Services & Regulatory
- Advised on life, accident and sickness, property, liability, surety, title, travel and creditor's group insurance matters including product development work in respect of term life, universal life and annuity policies as well as variable insurance (segregated funds) contracts
- Advised on corporate reorganizations and governance, market conduct, product distribution and marketing arrangements (including affinity programs), as well as on regulatory matters related to all of the foregoing
- Advised banks, insurers, marketing companies, manufacturers and others in defining the borderline between insurance and non-insurance products
- Advised auto, electronics and other manufacturers, warranty administrators as well as others on the implementation and administration of warranty, extended warranty, service contract, loan protection (creditor's group) and other dealer-sold programs, on a cross-Canada basis
- Advised on and prepared corporate policies, compliance regimes and other guidance in respect of investments, outsourcing, anti-money laundering, anti-terrorism, 'FATCA', unclaimed property/ escheatment, etc., for various financial institutions, credit card companies and other issuers of payment products
- Specifically advised on regulatory issues related to credit cards, charge cards, prepaid payment cards (prepaid access), gift cards, etc., in respect of card franchisors, issuers and administrators, on a cross-Canada basis
- Advised on insurance and other issues in respect of establishing commercial and consumer vehicle rental businesses in Canada
- Advised manufacturers, national distributors or their lending divisions on floorplan inventory insurance programs
- Advised life insurance companies and their holding corporations in connection with acquisitions as well as with divestitures of divisions, subsidiaries and investments including asset sales, share sales, assumption reinsurance and insurance administration agreements
- Advised on 'insurance discrimination', and the intersection of 'human rights discrimination' and insurance
- Advised on reinsurance treaties and agreements
Presentations
Anti-Money Laundering and Anti-Terrorism Financing
Anti-Money Laundering and Anti-Terrorism Financing
Publications
A.M. Best's Digest of Insurance Law
Practical Law Guide, Insurance and Reinsurance in Canada
The Anti-Money Laundering/Anti-Terrorist Financing section of Compliance Office®, Ethidex's web-based compliance and risk-management system, which is currently utilized by numerous Canadian insurers
AML Regulatory Challenges Facing FinTechs
Insurance Intermediation Activities and Insurance Intermediaries
The Legal Nature of Insurance Contracts
Filthy Lucre: Confronting the Risks of Money Laundering
News
22 McMillan Lawyers Recognized in the 2020 Legal 500: Canada Directory
McMillan Lawyers Earn 41 Rankings across 23 Categories in Chambers Canada 2020
McMillan lawyers are well represented in the 2019 edition of Chambers Canada
McMillan lawyers are well represented in the 2018 edition of Chambers Canada
McMillan lawyers are well represented in the 2017 edition of Chambers Canada
Gerald Badali published on Risk Management magazine website
Education
- University of Western Ontario, LLB - 1981
- University of Toronto, BA (with high distinction) - 1978
Year Of Call
- Called to the Ontario bar - 1983
Practices
insurance
financial services
regulatory compliance
business law
Industries
insurance
banking
automotive
Awards & Rankings
- Listed in the Legal500 Canada 2020 as a “Recommended Lawyer” – Insurance
- Recognized by Chambers Canada (2020) as a leading lawyer in the area of Insurance Law
- Recognized by Chambers Canada 2019 as a leader in Insurance: Transaction & Regulatory
- Recognized in Chambers Canada 2018 as a leading lawyer in the area of Insurance: Transactional and Regulatory
- Recognized in Chambers Canada 2017 as a leading lawyer in the area of Insurance: Transactional and Regulatory
- Recognized by A.M. Best in 2013, 2014, 2016 and 2017 as a Recommended Law Digest Contributor