Dangerous Opportunities: The Future of Financial Institutions, Housing Policy, and Governance

Edited by Stephanie Ben-Ishai

© 2021

The 2017 Home Capital saga represents the shortcomings of a financial system challenged by distinct, siloed regulatory frameworks that fail to communicate with each other. Home Capital is a publicly traded company that acts as a lender through the Home Trust Company, most often providing mortgages to clients rejected by traditional banks. Home Capital’s 2017 announcement that it required $2 billion to sustain a $600 million loss shook customer confidence, and fueled by allegations of corruption, they suffered a rapid decline in stock price.

The Home Capital crisis is the most recent pre-pandemic example of systemic risk in the financial sector in Canada and highlights the invaluable opportunity that we have in avoiding past mistakes in the nearing post-pandemic economic reality.

Dangerous Opportunities sheds light, using the 2017 Home Capital saga as a starting point, on the compartmentalization of regulators and its greater ramifications on board independence and corporate governance, taxation in the competitive house context, and non-bank financial institutions’ success in various jurisdictions. A hybrid of law and business, Dangerous Opportunities is a must read for those interested in the underbelly of financial institutions, and is an inspired read in the aftermath of the recent housing crisis which saw many desiring-homeowners seeking dangerous opportunities outside of the traditional banking system.

Continue Reading Read Less

Product Details

  • Imprint: Rotman-UTP Publishing
  • World Rights
  • Page Count: 208 pages
  • Dimensions: 6.0in x 1.0in x 9.0in
Product Formats

SaveUP TO 15182

Book Formats

SKU# SP005950

  • AVAILABLE SEP 2021

    From: $22.72

    Regular Price: $34.95

    ISBN 9781487506087
  • AVAILABLE SEP 2021

    From: $22.72

    Regular Price: $34.95

Quick Overview

Dangerous Opportunities presents a timely contribution that provides lessons for post-pandemic economic recovery from the pre-pandemic Home Capital crisis, a watershed in Canadian Financial markets.

Dangerous Opportunities: The Future of Financial Institutions, Housing Policy, and Governance

Edited by Stephanie Ben-Ishai

© 2021

The 2017 Home Capital saga represents the shortcomings of a financial system challenged by distinct, siloed regulatory frameworks that fail to communicate with each other. Home Capital is a publicly traded company that acts as a lender through the Home Trust Company, most often providing mortgages to clients rejected by traditional banks. Home Capital’s 2017 announcement that it required $2 billion to sustain a $600 million loss shook customer confidence, and fueled by allegations of corruption, they suffered a rapid decline in stock price.

The Home Capital crisis is the most recent pre-pandemic example of systemic risk in the financial sector in Canada and highlights the invaluable opportunity that we have in avoiding past mistakes in the nearing post-pandemic economic reality.

Dangerous Opportunities sheds light, using the 2017 Home Capital saga as a starting point, on the compartmentalization of regulators and its greater ramifications on board independence and corporate governance, taxation in the competitive house context, and non-bank financial institutions’ success in various jurisdictions. A hybrid of law and business, Dangerous Opportunities is a must read for those interested in the underbelly of financial institutions, and is an inspired read in the aftermath of the recent housing crisis which saw many desiring-homeowners seeking dangerous opportunities outside of the traditional banking system.

Continue Reading Read Less

Product Details

  • Imprint: Rotman-UTP Publishing
  • World Rights
  • Page Count: 208 pages
  • Dimensions: 6.0in x 1.0in x 9.0in
  • Author Information

    Stephanie Ben-Ishai is a Distinguished Research Professor and Full Professor at Osgoode Hall Law School, York University. She is also the Academic Director and Founder of the LLM in Bankruptcy and Insolvency Law, Co-Academic Director of the LLM in Banking Law, and the Academic Director of the Osgoode Small Business Clinic. She is the co-author of numerous law textbooks.
  • Table of contents

    Acknowledgments

    Introduction
    Stephanie Ben-Ishai

    1 Governance Challenges in Times of Crisis
    Poonam Puri

    2 Hoopp and Home Capital: Pension Funds as Good Governors and Crisis Managers
    Simon Archer

    3 Securities Regulators and Investor Education
    Gail E. Henderson

    4 Home Capital and Cross-Border Lessons in Mortgage Regulation
    Stephanie Ben-Ishai

    5 Tax Reform: A Missing Piece in Canada’s National Housing Policy
    Jinyan Li

    Conclusion. Dangerous Opportunities: Lessons Learned for the Pandemic Recovery Efforts
    Stephanie Ben-Ishai

    Notes
    Contributors

Related Titles