Category: Practice Areas

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Plan Approvals Submitted Under Environmental Permits Are Appealable Decisions in B.C.

September 7, 2017

In the recent decision in Unifor Local 2301 v. Rio Tinto Alcan Inc., the British Columbia Court of Appeal (Court) confirmed that approval of a monitoring plan submitted under an environmental permit falls within the definition of a “decision” under the appeal provisions of the Environmental Management Act (EMA). The case is a useful reminder to industry proponents that plans…

London Interbank Offered Rate to Be Replaced By End of 2021

August 31, 2017

The U.K.’s Financial Conduct Authority (FCA) recently announced that the London Interbank Offered Rate (LIBOR) is to be phased out by the end of 2021 and replaced with a more reliable alternative. LIBOR is a daily benchmark interest rate set at approximately 11:45 a.m. (London time) every morning by a panel of leading banks in the U.K. It is the…

B.C. Court of Appeal Decision a Setback for Class Action Defendants

August 28, 2017

On August 18, 2017, the British Columbia Court of Appeal (Court of Appeal) released a significant decision relating to certification matters for class actions that could have wide-ranging effects on competition class actions commenced in B.C. and elsewhere. Godfrey v. Sony Corporation (Godfrey) involved an appeal from a B.C. Supreme Court decision allowing certification of a class action on behalf…

Back to the Future: Finance Canada Releases Second Consultation on Financial Sector Legislation

August 23, 2017

On August 11, 2017, Canada’s Department of Finance (Finance Canada) launched the second stage of its consultation process to review the legislative and regulatory framework of the federal financial sector, by releasing its second consultation paper, titled “Potential Policy Measures to Support a Strong and Growing Economy: Positioning Canada’s Financial Sector for the Future” (Consultation Paper). Finance Canada is consulting…

Missing Pension Plan Beneficiaries and the Federal Consultation Paper on the Financial Sector Framework

August 22, 2017

The Bank of Canada currently maintains a program for holding account balances for missing individuals, which are transferred from banks and trust companies in certain circumstances. On August 11, 2017, the federal Department of Finance released a consultation paper (Consultation Paper) indicating that consideration is being given to modernizing this program. We understand that the federal Department of Finance may…

Ontario Court Upholds Ruling Reducing Exaggerated Lien

August 18, 2017

The Ontario Superior Court of Justice (Divisional Court) recently released its decision in HMI Construction Inc. v. Index Energy Mills Road Corp., upholding a motion decision that reduces the security required to vacate liens registered under the Construction Lien Act (CLA). The decision illustrates the importance for contractors to correctly calculate their lien claims, the remedies available to an owner…

Mandatory Clearing of OTC Derivatives Delayed for Certain Entities

August 17, 2017

The Canadian Securities Administrators (CSA) have taken steps to postpone until August 20, 2018 the phase-in date of the mandatory clearing requirements set out in National Instrument 94-101 Mandatory Central Counterparty Clearing of Derivatives (NI 94-101) for certain categories of counterparties. The delay in the application of the rule to these counterparties will not affect transactions and counterparties that are…

Quebec Amends its Energy Efficiency Regulations and Moves Towards Implementation of 2030 Energy Policy

August 16, 2017

On August 15, 2017, the Regulation respecting the energy efficiency of electrical or hydrocarbon-fuelled appliances (Quebec Regulations) was amended in order to eliminate and reduce disparities with the energy efficiency regulatory requirements applicable to appliances at the federal level (Federal Regime). The amendment to the Quebec Regulations notably extends the scope of appliances that it covers, in addition to increasing…

U.S. Immigration Solution: Canada is Open for Business

August 9, 2017

The competition for professional foreign workers continues to increase in many U.S. business sectors. In light of changing U.S. immigration laws and impending reform, however, American companies hiring foreign talent are challenged by how to efficiently and economically recruit and retain their top talent. This article originally appeared in the August 2017 issue of The American Lawyer.  

OSFI Issues Draft Guideline for Derivatives Sound Practices for Federally Regulated Private Pension Plans

August 8, 2017

On July 31, 2017, the Office of the Superintendent of Financial Institutions Canada (OSFI) published for comment a new draft guideline, titled: Derivatives Sound Practices for Federally Regulated Private Pension Plans (Draft Guideline). According to OSFI, the new Draft Guideline is intended to outline factors that OSFI expects administrators of federally regulated pension plans to consider as they develop and…

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