Category:

Page: 2 of 66Page 2 de 6612345...102030...>>>

Catucci v. Valeant: Implications for Quebec Financings

January 10, 2018

Quebec courts have reaffirmed how challenging it can be for underwriters, issuers and other defendants to resist securities class actions for statutory primary market liability at the authorization or “certification” stage. In 2017, the Superior Court of Québec and the Québec Court of Appeal gave the green light for a class action lawsuit involving Valeant Pharmaceuticals International Inc. (Valeant), a…

Ontario Pension Funding Reform and Administrator Discharge upon Annuity Purchase

January 9, 2018

On December 14, 2017, the Ontario government posted descriptions of two proposed regulations to the Ontario Pension Benefits Act (PBA) regarding the funding rules for defined benefit pension plans and the availability of an administrator’s discharge upon purchase of an annuity (together, the “Proposed Regulations”). The Proposed Regulations relate to some of the changes to the PBA announced by the…

B.C. Court Dismisses Regulatory Charges Against a Corporation Due to Unreasonable Delay

January 8, 2018

The British Columbia Provincial Court (Court) recently dismissed charges against a corporation brought under the Fisheries Act and the Environmental Management Act (EMA), based on a finding that there had been unreasonable delay by the Crown, in R. v. HMTQ et al. The Court applied the principles from the 2016 decision of the Supreme Court of Canada (SCC) in R….

Amended SPPA Regulation Comes into Force, Filling a Gap in Quebec’s Supplemental Pension Plan Framework

January 8, 2018

On January 4, 2018, the Regulation to amend the Regulation respecting supplemental pension plans came into force, filling a regulatory void in Quebec’s supplemental pension plans framework that lasted just over two years. This amendment brings the Regulation respecting supplemental pension plans (SPPA Regulation) up to speed with its enabling statute — the Act respecting supplemental pension plans (SPPA) —…

Unanimous Supreme Court of Canada Denies Leave on Chronic Delay Case

January 5, 2018

The Supreme Court of Canada (SCC) recently dismissed leave to appeal from the Alberta Court of Appeal decision in Humphreys v. Trebilcock (Humphreys), which is perhaps the most comprehensive consideration to date of whether delay in the prosecution of a plaintiff’s case warrants dismissal of an action. The decision by the Alberta Court of Appeal was subject to comment in…

Alert: U.S. Rescinds Cannabis Guidance Including Cole Memorandum

January 4, 2018

On January 4, 2018, U.S. Attorney General Jeff Sessions issued a memorandum to U.S. attorneys, which rescinded all previous nationwide guidance specific to cannabis enforcement, including the so-called “Cole Memorandum” that listed specific cannabis-related activities that the Department of Justice intended to focus on with respect to the Controlled Substances Act. In effect, the Cole Memorandum created room for recreational…

Clarity for Offshore Distributions by Ontario Issuers: OSC Adopts Rule 72-503 Distributions Outside Canada

January 4, 2018

On December 21, 2017, the Ontario Securities Commission (OSC) adopted OSC Rule 72-503 Distributions Outside Canada (Rule 72-503) and Companion Policy 72-503CP (72-503CP, and together with Rule 72-503, the Final Rule). The Final Rule aims to provide Ontario issuers and their underwriters with more certainty regarding the application of Ontario prospectus and dealer registration requirements to distributions of securities to investors…

Alert: CRTC Seeks Comments on Its Reseller Registration Obligation

December 22, 2017

On December 15, 2017, the Canadian Radio-television and Telecommunications Commission (CRTC) published a Notice of Consultation in connection with its upcoming review of non-carrier (i.e., telecommunications reseller) registration obligations. The Notice of Consultation requests input from interested parties as to which types of resellers should be exempt from the obligation to register with the CRTC prior to receiving telecommunications services…

Competition Bureau Releases Final Fintech Market Study

December 22, 2017

The Competition Bureau (Bureau) recently released the final report from its market study, titled Technology-led innovation and emerging services in the Canadian financial services sector (Report), analyzing the regulatory and non-regulatory issues faced by the fintech industry in Canada. The Report makes recommendations to address these issues, many of which are a departure from the current paradigm informing the regulation…

SCC Affirms Duty of Care but Reduces Auditor’s Damages in Livent Decision

December 21, 2017

On December 20, 2017, the Supreme Court of Canada (SCC) released its long-awaited decision in Deloitte & Touche v. Livent Inc. (Receiver of) (Livent), which addressed the issue of the auditor’s liability for failing to detect a fraud perpetrated by the directing minds of Livent Inc. (Livent). The seven-member panel was unanimous that the defendant auditor was not liable to…

Page: 2 of 66Page 2 de 6612345...102030...>>>