October 22, 2018
Ontario has now passed Bill 36: Cannabis Statute Law Amendment Act, 2018 (Bill 36), which sets out the government’s updated approach to the regulation of recreational cannabis. Bill 36 introduces the Cannabis Licence Act, 2018 (Licence Act), which governs the regulation and licensure of private cannabis retailers and amends the legislation making up the previous regime, including the Cannabis Act,…
Posted in: Cannabis
October 18, 2018
The recent restructuring proceedings of Concordia International Corp. (Concordia) demonstrate that the arrangement provisions of the Canada Business Corporations Act (CBCA) remain as a powerful tool for balance sheet restructurings in Canada. These provisions allow a company to submit a plan of arrangement for creditor and court approval in order to affect a balance sheet restructuring in a timely and…
October 15, 2018
The Supreme Court of Canada (SCC) determined that Ministers of the Crown have no duty to consult Aboriginal Peoples in the development of legislation, in its October 11, 2018 decision in Mikisew Cree First Nation v. Canada (Governor General in Council) (Mikisew). However, the majority of the SCC held that declaratory relief could be available where aboriginal or treaty rights…
Posted in: Aboriginal Law
October 11, 2018
In recent weeks, the Canadian Competition Bureau (Bureau) announced a number of initiatives relevant to companies that do business in Canada. In particular, the Bureau recently issued an information bulletin clarifying its initiative to conduct and publish industry-wide Market Studies. The Bureau has also updated its Immunity and Leniency Programs, which set out the Bureau’s approach to granting immunity from…
Posted in: Competition & Antitrust
October 11, 2018
The Toronto Stock Exchange (TSX) announced amendments (Amendments) to Part X — Special Purpose Acquisition Corporations (SPACs) of the TSX Company Manual (Manual), which came into effect on October 4, 2018. Notable changes to the TSX SPAC rules include codifying exemptions previously provided to SPACs by the TSX and removing the requirement for shareholder approval of a qualifying acquisition subject…
Posted in: Capital Markets, Mergers & Acquisitions
October 9, 2018
The number of women on boards and in executive positions has risen compared to last year, but progress on gender diversity remains slow, the Canadian Securities Administrators (CSA) have found in their recently published CSA Multilateral Staff Notice 58-310 Report on Fourth Staff Review of Disclosure regarding Women on Boards and in Executive Officer Positions (Notice). The Notice continues the…
Posted in: Corporate Governance
October 9, 2018
The Financial Consumer Agency of Canada (FCAC) recently published the final version of its Supervision Framework (2018 Framework), which took effect October 1, 2018. The 2018 Framework outlines the principles and processes that assist FCAC in fulfilling its mandate to supervise regulated entities. Under the 2018 Framework, FCAC continues to abide by its four guiding principles of: Transparency: FCAC achieves…
Posted in: Financial Services Regulatory
October 5, 2018
The United States-Mexico-Canada Agreement (USMCA), announced on September 30, 2018, looks to remove certain record-keeping requirements for financial institution sectors. The USMCA is a new treaty between Canada, Mexico and the U.S., which will replace the North American Free Trade Agreement The USMCA addresses several digital trade issues, including data localization. Among other things, once ratified, the USMCA will require…
Posted in: Financial Services Regulatory
October 4, 2018
On September 30, 2018, Canada, Mexico and the United States announced that they had reached an agreement on a new treaty, the United States-Mexico-Canada Agreement (USMCA), which will replace the North American Free Trade Agreement (NAFTA) that has been in force since 1994. While the trade provisions of the USMCA have been garnering the most attention, the USMCA contains notable changes…
Posted in: Arbitration
October 4, 2018
The Regulation respecting compensation for adverse effects on wetlands and bodies of water (Regulation) came into force on September 20, 2018. The Regulation clarifies the regulatory framework and parameters for determining the financial contribution now required from proponents who wish to carry out projects in wetlands and bodies of water in Quebec. BACKGROUND The Regulation is part of the overhaul of…
Posted in: Environmental
