Countdown to Compliance: Navigating the RPAA’s Safeguarding Requirements with Purves Redmond and Bennett Jones
With new safeguarding requirements under the Retail Payment Activities Act (RPAA) set to take effect on September 8th, payment service providers (PSPs) are preparing for a major shift in how they protect end-user funds.
To help PSPs navigate this change, Fintechs Canada is bringing together experts from Purves Redmond and Bennett Jones for a practical discussion on how insurance and surety solutions can support compliance. This timely virtual session will help PSPs understand their options and make informed decisions as the deadline approaches.
In this session, we’ll cover:
What the RPAA requires and why it matters
The role of insurance and surety products in meeting safeguarding obligations
Why some PSPs are choosing insurance over other models
Underwriting expectations, pricing considerations, and product availability in Canada
Practical tips for starting early and navigating the compliance process smoothly
Hear directly from legal and insurance experts working with PSPs across the country. Whether you're still evaluating your approach or ready to implement a solution, this conversation offers expert insight and actionable guidance.
Don’t miss out — register now to secure your spot!
Speakers
Sean Gibson, Senior Client Executive – Technology Practice, Purves Redmond Limited
Sean Gibson is a Senior Client Executive and leads the Technology Practice at Purves Redmond Limited (PRL), a full service Canadian commercial insurance brokerage.
Before moving into insurance, Sean was a commercial litigator for several years with Stikeman Elliott LLP. Through his extensive corporate commercial litigation experience, Sean has developed an intimate understanding of risk management.
Sean's focus at PRL is on risk management and insurance for complex technology accounts. Sean (and the team at PRL) have been focused on creating an insurance/guarantee product for PSPs to comply with their RPAA safeguarding obligations for well over a year.
Mert Guler, Senior Partner – Business Development, Purves Redmond Limited
Mert Guler is an innovator in the field of insurance, with a focus on emerging risks, including Technology, Digital Assets, Biotech and Life Sciences. An unconventional thinker, Mert is never satisfied with the status quo and is a thoughtful champion for his clients amongst insurance and reinsurance innovators.
Mert’s background includes 25 years experience working with clients and projects all over the world. Mert’s track record includes helping clients with sophisticated insurance needs and complex risk profiles. Mert has been instrumental in creating insurance markets for emerging risks, which aligns perfectly with Purves Redmond’s initiative with respect to the RPAA.
Cameron Byrne, Client Executive – Surety, Purves Redmond Limited
Cameron is an expert with all matters surety. He has experience with some of the world's largest oil managers, commodity traders, utility companies and renewable developers to help optimize their collateral from a liquidity and pricing perspective. Cameron is a member of the Surety Association of Canada's Commercial Surety Committee where he helps develop and advocate for new surety products in the mining, energy and tech sectors. Cameron has been intimately involved in the creation a surety solution for the RPAA safeguarding obligations for well over a year.
Simon Grant, Partner, Bennet Jones LLP
Simon Grant is a practical and results-driven advisor to companies navigating sophisticated financing and regulatory landscapes. A dual-sector leader, Simon co-heads both the Banking and Secured Transactions and Fintech groups at Bennett Jones LLP in Toronto.
In the fintech space, Simon is a go-to advisor for multinational technology companies entering the Canadian market. He helps clients navigate Canada’s payments and financial regulatory regimes—including the Retail Payment Activities Act (RPAA)—with clarity and pragmatism, ensuring compliance while enabling speed to market.
Whether helping international tech clients comply with evolving payment regulations or guiding foreign lenders through Canadian secured finance structures, Simon is known for his ability to streamline complex processes and drive transactions.