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Stuart S. Carruthers
Partner

Contact Information:
(416) 869-5600
scarruthers@stikeman.com




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Publications & Conferences

Mr. Carruthers is a prolific writer and speaker on insurance and financial services sector issues and developments. He has recently written and spoken on the following topics:

  • "Priorities and Risks for Chief Compliance Officers", 2017 Canadian Life and Health Insurance Association's Compliance and Consumer Complaints Conference, London, ON, May 2017.


  • "Regulatory Snappers", 2016 Insurance Bureau of Canada Regulatory Affairs Symposium, Toronto, ON, October 2016.


  • "Federal and Provincial Regulatory Developments", Canadian Life and Health Insurance Association's Legal Section Annual Conference, Niagara Falls, ON, September 2016.


  • "Ontario Panel Recommends "Radical" Restructuring of Key Provincial Financial Regulators", Stikeman Elliott Financial Services Update, June 2016.


  • "Regulatory Roundtable", Northwind Institute P&C Insurance Invitational Forum, Cambridge, ON, June 2016.


  • "Key Priorities and Risks for Chief Compliance Officers", Canadian Life and Health Insurance Association's Compliance and Consumer Complaints Annual Conference, Halifax, NS, May 2016.


  • "Expert Panel Releases Preliminary Report on Reforming Ontario's Financial Regulatory Regime", Stikeman Elliott Financial Services Update, November 2015.


  • "Regulatory Snappers", 2015 Insurance Bureau of Canada Regulatory Affairs Symposium, Toronto, ON, November 2015.


  • "Canadian Insurance Industry Overview and Regulatory Regime", New York State Bar Association International Section Seasonal Meeting "Hot Topics in Transnational Insurance and Reinsurance", Sao Paulo, Brazil, October 2015.


  • Working with Regulators/Policymakers", Canadian Life and Health Insurance Association's Legal Section Annual Conference, Halifax, NS, September 2015.


  • "Canada Finalizes Regulations for Demutualization of P&C Insurance Companies, Responds to Stakeholder Comments", Stikeman Elliott Insurance Law Update, July 2015.


  • "The Canadian Reinsurance Arena", Panel Moderator, Canadian Insurance Financial Forum, Toronto, ON, May 2015.


  • "Tips and Strategies for Working with Regulators", Canadian Life and Health Insurance Association's Compliance and Consumer Complaints Annual Conference, Quebec City, QC, April 2015.


  • "Canadian government proposes long-awaited framework for demutualization of P&C insurance companies", Stikeman Elliott Insurance Law Update, March 2015.


  • "Regulatory Snappers", 2014 Insurance Bureau of Canada Regulatory Affairs Symposium, Toronto, ON, November 2014.


  • "Federal and Corporate Developments", 2014 Canadian Life and Health Insurance Association's Legal Section Annual Meeting, Montebello, QC, September 2014.


  • "OSFI releases final advisory on required notice of proposed director and senior officer changes", Stikeman Elliott Financial Services Update, May 2014.


  • "Corporate Governance Update", 2014 Canadian Life and Health Insurance Association's Compliance and Consumer Complaints Annual Conference, Ottawa, ON, May 2014.


  • "Effects of Regulatory Cascade on Canadian P&C Insurance Companies: International, Federal, Provincial", Moderator, Insurance Bureau of Canada Financial Affairs Symposium, Toronto, ON, April 2014.


  • Canadian chapter in Practical Law Company's Insurance and Reinsurance Multi-Jurisdictional Guide 2012, 2013/2014 and 2014/2015 editions, March 2012/2013/2014.


  • "Supreme Court considers defences available to regulatory offences in Autorité des marches financiers v. La Souveraine, compagnie d'assurance génerale", Stikeman Elliott Financial Services Update", January 2014.


  • "OSFI releases draft advisory on required notifications of proposed changes of directors and senior officers of Canadian federal financial institutions", Stikeman Elliott Financial Services Update, January 2014.


  • "OSFI and the Introduction of ORSA - Current Developments in Canadian Insurance Industry Regulation", Acumen Information Services' ORSA for Insurance Companies Conference, Toronto, ON, November 2013.


  • "Federal and Corporate Developments", 2013 Canadian Life and Health Insurance Association's Legal Section Annual Meeting, Kananaskis, AB, October 2013.


  • "Policy and Reinsurance Wordings - Pitfalls and Opportunities", 2013 National Insurance Conference of Canada, Ottawa, ON, September 2013.


  • "Risk Management Gone Wrong", 2013 Canadian Life and Health Insurance Association's Compliance and Consumer Complaints Annual Conference, Vancouver, BC, May 2013.


  • "Risk assessment, management central to OSFI guides" quoted regarding his expertise on the governance guidelines of Office of the Superintendent of Financial Institutions (OSFI), The Lawyers Weekly, March 2013.


  • Canadian chapter in Law Business Research's The Insurance and Reinsurance Law Review, 2013 & 2014 editions, March 2013/2014.


  • "OSFI Releases Final Revised Corporate Governance Guideline", Stikeman Elliott Financial Services Update, January 2013.


  • "The Canadian Insurance Regulatory Framework", schematic chart outlining the Canadian insurance regulatory regime, January 2013.


  • "Managing risk at heart of OSFI guideline" quoted regarding OSFI's new draft corporate governance guideline, The Bottom Line, Vol. 28, No. 15, November 2012.


  • "The Evolving CRO Role and Board/CRO Relationship - OSFI's Expectations and Some Observations", 2012 Life Insurance Invitational Forum, Cambridge, ON, November 2012.


  • "Amendments to anti-money laundering regulations would clarify monitoring obligations", Stikeman Elliott Financial Services Update, November 2012.


  • "OSFI's new life insurance regulatory framework: themes and key elements", Stikeman Elliott Insurance Law Update, October 2012.


  • "OSFI: Modernizing Governance", Canadian Life and Health Insurance Association's 2012 Legal Section Annual Meeting, Insurance Law: The Modern Era, Montreal, QC, September 2012.


  • "OSFI Releases Draft Corporate Governance Guideline", Stikeman Elliott Financial Services Update, August 2012.


  • "The Joint Forum's December 2011 Consultative Document "Principles for the Supervision of Financial Conglomerates": Overview and Updates", Canadian Life & Health Insurance Association 2012 Joint Annual Conference of the Compliance and Consumer Complaints Officers Section, Montreal, QC, May 2012.


  • "AMF Releases Issues Paper on Electronic Commerce", Stikeman Elliott Insurance Law Update, April 2012.


  • "The Joint Forum's December 2011 Consultative Document "Principles for the Supervision of Financial Conglomerates", Canadian Life and Health Insurance Association Compliance Section Webcast with J.-P. Bernier (CLHIA), February 2012.


  • "CCIR Releases Issues Paper on Electronic Commerce", Stikeman Elliott Insurance Law Update, February 2012.


  • "Department of Finance Initiates Consultations on Strengthening AML/ATF Regime", Stikeman Elliott Financial Services Update, February 2012.


  • "Life MGAs Regulatory Initiatives Update", The Canadian Institute's 17th Annual Regulatory Compliance for Financial Institutions Conference, Toronto, November 2011.


  • "U.S. Foreign Account Tax Compliance Act (FATCA)", Canadian Life & Health Insurance Association 2011 Segregated Funds Section Annual Conference, Toronto, November 2011.


  • "International Regulatory Developments", National Insurance Conference, Vancouver, September 2011.


  • "Canadian Reinsurance Regulatory Update", HarrisMartin Reinsurance Conference, Philadelphia, September 2011.


  • "FATCA Update", presentation at the Canadian Life and Health Insurance Association's Annual Legal Section Meeting, Prince Edward Island, September 2011.


  • "Alberta Court of Appeal considers whether extended warranties are insurance products", Stikeman Elliott Insurance Law Update, September 2011.


  • "Cloud computing and Canadian federally regulated financial institutions", Stikeman Elliott Financial Services Update, July 2011.


  • "CCIR paper considers issues and risks regarding use of credit-based insurance scores", Stikeman Elliott Insurance Law Update, July 2011.


  • "New GST/HST rules create confusion for financial institutions acquiring goods or services from non-resident affiliates", Stikeman Elliott Insurance Law Update, May 2011.


  • "U.S. FATCA: Potential Compliance Issues for Canadian Insurers and Latest Updates on Implementation Process", presentation at the Canadian Life and Health Insurance Association's Annual Compliance and Consumer Complaints Conference, May 2011.


  • "Reinsurance Regulatory Reform in Canada", Insurance and Reinsurance Committee Presentation, New York State Bar Association, International Section, April 2011.


  • Canadian chapter in PLC's Cross-border Insurance and Reinsurance Handbook 2011, March 2011.


  • "Federal Government announces proposed Negative Option Billing Regulations", Stikeman Elliott Insurance Law Update, March 2011.


  • "OSFI releases updated supervisory framework", Stikeman Elliott Insurance Law Update, March 2011.


  • "Canadian Reinsurance Regulatory Regime to be Significantly Strengthened in 2011-2012", Reinsurance, HarrisMartin Publishing, March 2011.


  • "Canadian insurance regulators release issues paper regarding MGA distribution model", Stikeman Elliott Insurance Update, February 2011.


  • "Insurance Product Compliance Considerations", presentation at The Canadian Institute's Fundamentals of Regulatory Compliance for Financial Institutions Conference, February 2011.


  • "OSFI releases final reinsurance regulatory guideline and guidance on reinsurance security agreements", Stikeman Elliott Insurance Update, January 2011.


  • "Good Governance in an Era of Heightened Regulatory and Public Scrutiny", presentation at The Canadian Institute's 16th Annual Regulatory Compliance for Financial Institutions Conference, November 2010.


  • "Reviewing Federal Regulatory and Legislative Developments Affecting Insurance Providers", presentation at The Canadian Institute's 16th Annual Regulatory Compliance for Financial Institutions Conference, November 2010.


  • "Financial Regulatory Reform: Post-GFC Perspectives from Australia, the United States and Canada: The Canadian Perspective", presentation, Financial Regulation Panel, New York State Bar Association International Section Seasonal Meeting, October 2010, Sydney.


  • "Insurance/Reinsurance and Arbitration: Reining in the Process: The Claims, Regulation and Dispute Resolution Atmosphere Post-GFC: Recent Reinsurance Regulatory Reform in Canada", presentation, Insurance and Reinsurance Panel, New York State Bar Association International Section Seasonal Meeting, October 2010, Sydney.


  • "Foreign Insurers on Uncertain Path", interview, The Law Times, October 2010.


  • "OSFI Releases Draft Guideline on Sound Reinsurance Practices and Procedures", Stikeman Elliott Insurance Update, September 2010.


  • "OSFI Releases Letter and Draft Guidance on Reinsurance Security Agreements", Stikeman Elliott Insurance Update, September 2010.


  • Canadian chapter in the International Bar Association Insurance Committee's Substantive Project 2010: Insurance Portfolio Transfers (Co-author), September 2010.


  • "OSFI Releases Instruction Guide on Listings and Sanctions Laws", Stikeman Elliott Insurance Update, June 2010.


  • "OSFI Releases Draft Guideline on Insurance Company Internal Capital Targets", Stikeman Elliott Insurance Update, May 2010.


  • "Quebec AMF provides its position on GAP and marking warranties and products related to vehicles generally", Stikeman Elliott Insurance Update, May 2010.


  • "Outsourcing: Are the Efficiency Gains Worth the Risk?", presentation at the Canadian Life and Health Insurance Association Annual Compliance and Consumer Complaints Officers Section Conference, May 2010.


  • "OSFI Response Paper Outlines Reforms to Reinsurance Regulatory Regime", Canadian Insurance Regulation Reporter, May 2010.


  • Canadian chapter in PLC's Cross-border Insurance Handbook 2009/2010, March 2010.


  • "CROs in the Spotlight: Market Turmoil Heightens Prominence of, and Regulatory Focus on, the Role of the Chief Risk Officer in Canadian Financial Institutions", Canadian Insurance Regulation Reporter, March 2010.


  • "Insurance Case Law Roundup", Canadian Insurance Regulation Reporter, March 2010.


  • "Regulatory Update", presentation at the 18th Annual KPMG Insurance Industry Conference, November 2009.


  • "Good Governance: Fine Tuning Your Organization's Management and Oversight Process", presentation at The Canadian Institute's 15th Annual Regulatory Compliance for Financial Institutions Conference, November 2009.


  • "Insurance Companies in Canada: The Past Year in Compliance and Identifying Future Trends", presentation at The Canadian Institute's 15th Annual Regulatory Compliance for Financial Institutions Conference, November 2009.


  • "After the Crisis: Implications for Insurance and Reinsurance. What Happens Next? A Canadian Perspective", presentation, Insurance and Reinsurance Panel, New York State Bar Association International Section Season Meeting, October 2009, Singapore.


  • "New Rules for Foreign Insurers to Take Effect", interview, The Law Times, October, 2009.


  • "Court Affirms Priority Entitlement of Canadian Creditors to Post-Liquidation Interest from Canadian Branch of Foreign Insurance Company", Stikeman Elliott Insurance Update, September 2009.


  • "AMF Releases Proposed Reinsurance Risk Management Guideline", Stikeman Elliott Insurance Update, July 2009.


  • "OSFI's Reinsurance Regulation Discussion Paper: Overview and International Regulatory and Economic Perspectives in a Changing World" (co-author), Canadian Insurance Regulation Reporter, June 2009.


  • "OSFI releases revised Advisory on insurance in Canada of risks", Stikeman Elliott Insurance Update, June 2009.


  • "Assessing Responsible Persons under OSFI Guideline E-17", presentation at the Canadian Life and Health Insurance Association Annual Compliance and Consumer Complaints Officers Section Conference, May 2009.


  • "Canadian Life Insurance Facility launched", Stikeman Elliott Insurance Update, May 2009.


  • "Quebec to Regulate Motor Vehicle Replacement Guarantees as Insurance", Stikeman Elliott Insurance Update, April 2009.


  • "Supreme Court Says Ambiguous Non-Competition Classes Not Enforceable", Canadian Insurance Regulation Reporter, March 2009.


  • "Tax Court Cases Provide Relief for Foreign Insurance Company Branches", Canadian Insurance Regulation Reporter, December 2008.


  • "Regulatory Update", presentation at 17th Annual KPMG Insurance Industry Conference, November 2008.


  • "OSFI Guideline, E-17: Balancing Benefits and Burdens", Canadian Insurance Regulation Reporter, June 2008.


  • "Legal and Regulatory Environment Update", presentation at 33rd Annual RBC Conference for Insurance Companies, June 2008.


  • "Examining the Developments and Growth Prospects for Islamic Insurance Products in Canada", presentation at Canadian Institute Islamic Banking and Finance Conference, June 2008.


  • "Islamic Financial Services in Canada Recent Developments and Long Term Prospects", Islamic Finance News, May 2008.


  • "OSFI Guideline E-17", presentation at the Canadian Life and Health Insurance Association Annual Compliance and Consumer Complaints Officers Section Conference, April 2008.


  • "More on Part XIII", Canadian Insurance Regulation Reporter, March 2008.


  • "UK Paper on Regulation and Challenges of Islamic Finance Has Relevance for Canada", Stikeman Elliott Financial Services Update, January 2008.


  • "Six Significant Current Trends and Themes in Canadian Insurance Industry Regulation - Some Personal Observations", Canadian Insurance Regulation Reporter, December 2007.


  • "Latest Key Developments and Issues Affecting the Canadian Insurance Industry", Stikeman Elliott Insurance Update, November 2007.


  • "Islamic Financial Services", presentation at KPMG Insurance Industry Leadership Conference, November 2007.


  • "'Stub Equity' Structures: A New Era in Private Equity?", Stikeman Elliott M&A Update, June 2007.


  • "Latest Key Developments and Issues Affecting the Canadian Insurance Industry", Stikeman Elliott Insurance Update, May 2007.


  • "Supreme Court Rules Today That Banks' Insurance Activities Also Subject to Provincial Insurance Regulation", Stikeman Elliott Financial Services Update, May 2007.


  • "Islamic Financial Services: Overview and Prospects for the Canadian Marketplace", Stikeman Elliott Financial Services Update, April 2007.
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