Louise Pelly

Legal and Drafting Specialist

Louise Pelly is a former partner of one of Canada’s leading law firms, Stikeman Elliott, where she specialized in the law relating to banking, insurance and the regulation of other financial services.  She is well known in Canada as an expert in the practice and theory of Canadian financial regulatory legislation.  She was Special Counsel to the Department of Finance Canada, advising on the major revision of the laws governing Canadian banks, trust, loan and insurance companies and cooperative credit associations, which came into force in June 1992, including development of underlying policy and drafting legislation.  This landmark legislation marked Canada’s adoption of a new supervisory framework incorporating a risk based approach to financial supervision, significantly higher standards of corporate governance for institutions, and increased responsibilities for professional auditors and actuaries within the supervisory framework.  In February 1997 she was appointed Advisor to the Task Force on the Future of the Canadian Financial Services Sector, which reported to the Minister of Finance in September 1998.  She is co-author of the definitive work on the revised banking legislation, The Annotated Bank Act, now in its fifth edition.  She is also author of Canada: Business and Finance, published in the Fall of 1997, with a Preface by the Honourable Paul Martin, Minister of Finance.  For the last several years she has been providing legal assistance in emerging market countries on assignments having to do with the modernization of financial legislation.  Louise has a Master of Laws degree from Harvard University.