Bulletins Archives - Blakes Business Class

Wrapping Up 2019 with Increased Transparency: Updates on Lobbying Regimes and Conflict of Interest Rules

December 13, 2019

For the last quarter of 2019, certain amendments to the lobbying regime in British Columbia have been proclaimed into force, and changes have been proposed for the lobbying regime and conflict of interest rules in Saskatchewan. Among other things, these upcoming and proposed changes tighten lobbying rules by lowering the annual hourly threshold for registration by in-house lobbyists and adding…

Posted by:

Alexis Levine and Maria Nasr

Posted in: Government & Public Sector, Lobbying

The CRTC Imposes New Obligation on Telecommunications Service Providers to Combat Nuisance Calls

December 12, 2019

Canada’s telecommunications regulator has announced that telecommunications service providers (TSPs) providing voice telecommunications services in Canada must implement a new framework to authenticate and verify caller ID information for IP-based voiced calls. These TSPs will have until September 30, 2020, to implement the Secure Telephone Identity Revisited/Signature-based Handling of Asserted Information Using Tokens framework (STIR/SHAKEN). STIR/SHAKEN is a specific anti-call…

Posted by:

Sunny Handa, Céline Poitras and Renée Tousignant

Posted in: Communications

The Little Engine that Couldn’t: SCC Rules on Limitation of Liability for Sale of Ship Engine Parts

December 4, 2019

The Supreme Court of Canada (SCC) recently rendered an important decision on the division of powers between the federal and provincial governments. While that decision was made in the context of Canadian maritime law, it has potentially far-reaching implications for contracts and disputes involving the transportation of goods across borders and the construction of projects under federal jurisdiction. BACKGROUND In…

Posted by:

Charles Kazaz and Ian Breneman

Posted in: Litigation & Dispute Resolution

Corporate Transparency: Which Path Will Quebec Take?

December 3, 2019

In recent years, several countries have undertaken various actions to combat fraud, tax evasion, tax avoidance, money laundering and the financing of criminal activities. Despite the implementation of several measures to strengthen corporate transparency, the Quebec government is still seeking solutions to counter these schemes. It is in this context that, in October 2019, Quebec’s Ministry of Finance published a…

Posted by:

Paul Martel and Howard Levine

Posted in: Business Crimes Investigations & Compliance, Corporate & Commercial, Tax

Burden Reduction: OSC Addresses 199 Problems

November 28, 2019

The Ontario Securities Commission (OSC) has released its Reducing Regulatory Burden in Ontario’s Capital Markets report (Report), identifying 107 initiatives to address 34 underlying concerns identified in the 199 suggestions received through its stakeholder consultation process to gather feedback on unnecessary burden and areas for improvement. While a national securities regulator would be the most significant reduction in the burden…

Posted by:

Matthew Merkley, Stacy McLean and Tim Phillips

Posted in: Capital Markets

Cybersecurity Alert: IIROC-Regulated Investment Firms Must Now Report Incidents

November 25, 2019

The Investment Industry Regulatory Organization of Canada (IIROC) has amended its Dealer Member Rules to require mandatory reporting by dealer members (Dealers) in the event of a cybersecurity incident. The amendments are accompanied by guidance on the new requirements. IIROC expects dealers to issue an initial report within three days of discovery of an incident, and to submit a detailed…

Posted by:

Cathy Beagan Flood, Imran Ahmad, Alexandra Luchenko, Katherine Barbacki and Ellie Marshall

Posted in: Capital Markets, Cybersecurity, Investment Products & Asset Management, Securities Litigation

Ontario’s Proposed Supply Chain Management Act: Highlights of Key Provincial Procurement Developments

November 22, 2019

As part of its most recent budget legislation (Bill 138), the Government of Ontario introduced the Supply Chain Management Act (Government, Broader Public Sector and Health Sector Entities), 2019 (Act) in support of the provincial government’s policy of centralizing procurement activities. Public sector buyers and vendors doing business with Ontario will be keenly interested in this Act and the Regulations…

Posted in: Procurement

CSA Seeks Comments on Initiative to Reduce Regulatory Burden for Investment Fund Issuers

November 21, 2019

In September 2019, the Canadian Securities Administrators (CSA) published CSA Notice and Request for Comment Reducing Regulatory Burden for Investment Fund Issuers – Phase 2, Stage 1, which outlines a number of proposed amendments and proposed changes to the disclosure regime and operational matters for investment fund issuers (the Proposed Amendments). Comments on the Proposed Amendments are due by December…

Posted by:

Stacy McLean, Christopher Yeretsian, Tairroyn Childs and Victoria Turner (Articling Student)

Posted in: Capital Markets, Investment Products & Asset Management

FINTRAC’s Updated Guidance on Methods to Verify Identity: A New Spin On “Authentic”

November 20, 2019

The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) has updated its guidance on Methods to verify the identity of an individual and confirm the existence of a corporation or an entity other than a corporation (Guidance). The Guidance follows recent amendments to the regulations (Regulations) to the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) in…

Posted by:

Jacqueline Shinfield and Sandy Stephens

Posted in: Banking, Financial Services Regulatory

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

Category: