Canada-U.S. Cross-Border Blog

Canadian lenders and banks with U.S. subsidiaries routinely engage in cross-border construction financing for real property projects located in New York. Typically, these loans are structured to manage the cross-border nature of the transaction by utilizing the borrowers’ U.S.-based affiliates or subsidiaries to grant the mortgage and security interest in the real property and improvements located in New York. Similar to U.S.-based lenders, Canadian lenders often require experience, strong liquidity, and market feasibility studies, as well as detailed construction ...

In an update to its previous ruling, the U.S. Securities and Exchange Commission (SEC) issued a new order granting an exemption from beneficial ownership reporting requirements under Section 16(a) for officers and directors of certain foreign private issuers, including Canadian foreign private issuers (FPIs).