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Lexpert roundup: An uncertain future for proxy access; Could Toronto be a global fintech hub?

Lexpert identifies and reports on emerging business issues and practice areas in the business of law. Whether online, in our magazine or in the DealsWire e-newsletter, we chronicle deals and lawsuits of interest, and cover issues of broad concern to the legal profession and those who purchase legal services. We hope you enjoy this sampling of our latest content.

Proxy access faces an uncertain future

Both the desirability and future of proxy access bylaws in Canada remain up in the air, despite the Toronto-Dominion Bank's adoption of the first such corporate bylaw in Canada on March 30. The uncertainty is reflected in the Royal Bank of Canada's rejection of a similar shareholder proposal just days later. But the fact remains that the level of support at both financial institutions demonstrates institutional shareholders' mounting interest in proxy access bylaws.

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The Role Reversal

In this month's "On the Deal" Q&A, we talk to key dealmakers behind Financeit and Concentra Bank's acquisition of a business unit of TD. Point-of-sale lender Financeit started off in 2011 servicing a market (small and mid-size business owners) that the big banks wouldn't touch in the wake of the financial crisis. Now the company has partnered up with Concentra and closed its first acquisition – from one of those very same banks. A unique model is born.

Graphic: Could Toronto be a global fintech hub?

According to a study out of Lucerne University in Switzerland, Canada's financial hub also has the potential of becoming a global fintech hub. Cities were scored on four criteria: political/legal stability, social adoption, technological capacity, and economic wellbeing. Toronto was ranked fourth in the world, behind Singapore, Zurich and Geneva.

This week's announced deal spotlight in Lexpert DealsWire features the key players and figures in the tripartite deal between Goldcorp, Barrick Gold and Kinross Gold, which focuses on projects in northern Chile. Also announced was an agreement for Goldcorp to buy Exeter Resource Corp.

In DealsWire's Closed Transactions section, we look at the legal teams on the specialty SPAC, Kew Media Group in its qualifying acquisition of 11 media companies, as well as the sale of CitiFinancial Canada, now renamed Fairstone Financial.

We also look at the players behind Performance Sports Group's cross-border sale and restructuring. Finally, we give you the legal teams on HollyFrontier acquiring the Petro-Canada Lubricants unit of Suncor Energy.

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