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TSX Proposes New Website and Equity Compensation Plan Disclosure

June 1, 2016

On May 26, 2016, the Toronto Stock Exchange (TSX) published for comment proposed amendments to Part IV and Part VI of the TSX Company Manual (Manual). If adopted, the proposed amendments would introduce website disclosure requirements for all TSX listed issuers (Part IV Amendments), and amend the security-based compensation arrangements disclosure requirements (Part VI Amendments), in particular by introducing a…

B.C. Court Confirms Powerful Maritime Arrest is Widely Available in Disputes Involving Maritime Assets

June 1, 2016

In Avina v. Sea Senor (Ship), the British Columbia Supreme Court (Court) upheld the arrest of the ship, Sea Senor (Vessel), in a dispute between the two shareholders of the company that owns the Vessel. The defendant applied to set aside the arrest on the basis that the underlying dispute was primarily a shareholders dispute, and therefore did not engage…

Default Interest Rates on Mortgages Structured as Discounts for Timely Payment Prohibited by Section 8 of Interest Act

May 31, 2016

Section 8 of the Interest Act (Canada) (Section 8) prevents lenders from charging a higher rate of interest after default on a mortgage of real property than that charged prior to default. In other words, if a mortgage with a rate of interest of five per cent during its term is increased to 10 per cent should the borrower fail…

The Great Canadian Beer Run: New Brunswick Court Strikes Down Restrictions on Free Trade as Unconstitutional

May 31, 2016

Surely there can be no dispute more Canadian than Gérald Comeau’s constitutional challenge to laws preventing him from bringing a few cases of Quebec beer into New Brunswick. Mr. Comeau’s challenge not only succeeded; it threatened to upset 95 years of precedent in Canadian constitutional law. In a case widely followed in national media, the Provincial Court of New Brunswick…

Ontario Announces Significant Climate Change, Cap-and-Trade, GHG Emissions Legislative Developments

May 30, 2016

 On May 18, 2016, the Ontario government (Government) passed the Climate Change Mitigation and Low-carbon Economy Act, 2016 (Act). The Government says that the Act’s objective is to make the province accountable for transparently investing proceeds from the cap-and-trade program into actions that reduce greenhouse gas (GHG) pollution, create jobs and help people and businesses shift to a low-carbon economy….

Suncor Clears Important Hurdle in Implementation of Random Alcohol and Drug Testing in Alberta

May 30, 2016

Employers seeking to introduce random alcohol and drug testing in hazardous work environments have reason to be optimistic following the recently released decision in Suncor Energy Inc. v. Unifor Local 707A. Justice D.B. Nixon held that the decision of the three-member arbitration panel (Panel) to reject Suncor Energy Inc.’s (Suncor) proposed implementation of random alcohol and drug testing in its…

CSA’s New Consultation Paper Looks to Enhance Registrants’ Obligations

May 26, 2016

The Canadian Securities Administrators (CSA) recently released Consultation Paper 33-404 Proposals to Enhance the Obligations of Advisers, Dealers and Representatives Toward their Clients (Consultation Paper), which considers a number of reforms regarding the client-registrant relationship. If implemented, these changes may significantly raise the standard for registrants. The Consultation Paper considers two different issues related to the registrant-client relationship: Amendments to…

Competition Bureau Launches FinTech Market Study

May 25, 2016

On May 19, 2016, the Competition Bureau (Bureau) announced that it has launched a market study into technology led innovation in the Canadian financial services industry (FinTech); FinTech was identified as a subject matter of interest at the Bureau’s workshop on emerging competition issues held in January 2016. The study raises important considerations not only for FinTech companies, but for…

Employer Obligations During the Fort McMurray Wildfire

May 25, 2016

The devastating impact of the wildfire that continues to burn throughout northern Alberta has left those directly affected with unanswered questions relating to sources of income and financial stability. Many workplaces have either ceased operations indefinitely or no longer exist. The situation has many employers asking about their duties to employees in these circumstances. This bulletin is a summary of…

B.C. Increases Potential Fines, Adds Administrative Penalties for Mining Law Violations

May 24, 2016

Since the 2014 Mount Polley tailings dam breach, the British Columbia government has made numerous changes to its mining regulatory regime. The most recent amendments, some of which came into force late last week, significantly increased the penalties that may be imposed for violation of the Mines Act (Act). The changes heighten the potential exposure of mining companies and their…

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