Bulletins Archives - Blakes Business Class

Clawback Policies Gain More Ground in Canada

November 18, 2019

Despite a lack of legislative change over the past eight years, the use of “clawback” provisions—arrangements under which an employee forfeits previously awarded compensation—have become increasingly common in Canada. Canadian public companies listed in the U.S. are subject to statutory clawbacks for certain employees. As well, certain Canadian financial institutions regulated by the Office of the Superintendent of Financial Institutions…

Posted by:

John Tuzyk and Jessie Dewdney

Posted in: Banking, Capital Markets, Corporate Governance, Employment & Labour, Europe, Financial Services, Pensions, Benefits & Executive Compensation

The syncreon Group: Landmark Case Recognizes English Schemes of Arrangements in Canada

November 14, 2019

In October 2019, syncreon Group Holdings B.V. and its subsidiaries (collectively, the syncreon Group) completed a landmark cross-border balance sheet restructuring of approximately US$1.1-billion of debt. The syncreon Group’s restructuring is believed to be the first time that English scheme of arrangement proceedings have been used to restructure debt issued by a U.S.-based multinational enterprise (Scheme Proceedings). Further, in its…

Posted by:

Linc Rogers, Aryo Shalviri and Caitlin McIntyre

Posted in: Automotive, Banking, Europe, Financial Services, Restructuring & Insolvency

What Canadian Businesses Need to Know about the California Consumer Privacy Act

November 12, 2019

Come July 1, 2020, Canadian entities caught under the California Consumer Privacy Act (CCPA) will need to comply with proposed regulations that were recently issued by the Attorney General’s office. The draft rules clarify the intended interpretation of the CCPA and create new substantive requirements with which businesses must comply. The draft regulations are open for public comment until December…

Posted by:

Imran Ahmad, Wendy Mee and Ellie Marshall

Posted in: Privacy

One Year into Mandatory Reporting, Canada’s Privacy Commissioner Releases Key Data Breach Trends

November 7, 2019

To mark the one-year anniversary of mandatory breach reporting under the Personal Information Protection and Electronic Documents Act (PIPEDA), the Office of the Privacy Commissioner of Canada (OPC) published a blog post providing observations, statistics and compliance tips. Since November 2018, organizations that are subject to PIPEDA are required to notify the OPC and affected individuals of a “breach of…

Posted by:

Imran Ahmad, Wendy Mee, Katherine Barbacki and Ellie Marshall

Posted in: Cybersecurity, Privacy

Changes to Financial Services Regulation in British Columbia

November 5, 2019

British Columbia’s new regulator, the BC Financial Services Authority (BCFSA), commenced operations on November 1, 2019, when the key sections of its empowering legislation came into force, at which time the Financial Institutions Commission of British Columbia (FICOM) ceased its operations. BCFSA is a new Crown corporation governed by the Financial Services Authority Act, 2019 (Bill 26), which received royal…

Posted by:

Bonny Murray and Alana Scotchmer

Posted in: Banking, Financial Services Regulatory, Insurance

Ontario’s Bill 132: Highlights of Key Proposed Changes to the Ontario Pension Benefits Act

November 4, 2019

The Better for People, Smarter for Business Act, 2019 (Bill 132) was introduced in the Ontario legislature last week. If passed, Bill 132 will make certain amendments to the Pension Benefits Act (PBA), as summarized below. Certain provisions are to come into force upon royal assent and others upon proclamation. This bulletin will highlight some of the key provisions of…

Posted in: Pensions, Benefits & Executive Compensation

Ontario Court Backs AGCO in Disqualification of 11 Cannabis Lottery Applicants

November 1, 2019

In Reynolds v. Registrar (Alcohol and Gaming Commission), the Ontario Divisional Court (Court) recently dismissed an application for judicial review of the Registrar of the Alcohol and Gaming Commission of Ontario’s (Registrar) decision to disqualify 11 applicants (Disqualified Candidates) from the cannabis retail licensing process. In doing so, the Court reaffirmed the principle that judicial review remedies are discretionary and…

Posted by:

Robin Linley and Christopher DiMatteo

Posted in: Cannabis, Litigation & Dispute Resolution

Amendments to the CCAA and BIA in Force November 1, 2019

November 1, 2019

On November 1, 2019, certain amendments to the Bankruptcy and Insolvency Act (BIA) and the Companies’ Creditors Arrangement Act (CCAA) will come into force and have potentially far-reaching implications on the way in which restructuring and liquidation proceedings under those statutes are conducted. As described in further detail below, the amendments: Implement a duty to act in good faith on interested…

Posted by:

Pamela Huff, Kelly Bourassa, Chris Burr and Morgan Crilly

Posted in: Restructuring & Insolvency

Summary of Oversight and Regulatory Activities: AMF’s 2019 Report on Quebec Capital Markets

October 29, 2019

The Corporate Finance division of the Autorité des marchés financiers (AMF) recently released its third annual Summary of Oversight and Regulatory Activities (Report). Along with an overview of Quebec’s capital markets, the Report provides constructive feedback for issuers arising from the AMF’s oversight activities, as well as information on the development and the implementation of guidance and regulations for insiders…

Posted by:

Marion Racine, Michael Bantey, Christopher Jones and Howard Levine

Posted in: Capital Markets, Mergers & Acquisitions

B.C.’s UNDRIP Legislation Facilitates Reconciliation but Leaves Unanswered Questions

October 28, 2019

On October 24, 2019, the B.C. government introduced legislation which, if adopted, will be known as the Declaration of the Rights of Indigenous Peoples Act (Act). The legislation aims to incorporate the United Nations Declaration on the Rights of Indigenous Peoples (UNDRIP) into the laws of British Columbia. The legislation has been received positively by Indigenous Peoples, but concrete actions…

Posted by:

Roy Millen, Sam Adkins and Sabrina Spencer

Posted in: Aboriginal Law

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