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Modern Treaty Rights Prevail Over Duty to Consult First Nations Asserting Aboriginal Rights

April 9, 2018

What happens when a First Nation asserts aboriginal rights or title that conflict with another First Nation’s rights under a modern treaty? In its recent decision, Gamlaxyeltxw v. British Columbia (Minister of Forests, Lands & Natural Resource Operations), the British Columbia Supreme Court (Court) ruled that in these circumstances, the “treaty right must prevail over the duty to consult [the…

CSA Announce Policy Projects to Reduce Regulatory Burden for Public Companies

April 6, 2018

The Canadian Securities Administrators (CSA) recently published Staff Notice 51-353 – Update on CSA Consultations Paper 51-404 Considerations for Reducing Regulatory Burden for Non-Investment Fund Reporting Issuers (Notice), which sets out a number of upcoming CSA policy projects intended to reduce the regulatory burden associated with capital raising in public markets (i.e., prospectus-related requirements) and the ongoing costs (i.e., continuous…

2018 Ontario Budget Looks to Enhance Securities Enforcement Activities

April 5, 2018

As part of its 2018 budget (Budget), the Ontario government announced that it plans to propose new tools to enhance and expand the securities enforcement activities of the Ontario Securities Commission (OSC), including in regard to the criminal prosecution of securities fraud. The Budget does not include details of how or when these proposals will be implemented, but the announcements…

Financial Sector Legislative Reform Continues

April 4, 2018

On March 27, 2018, the federal government introduced Bill C-74, Budget Implementation Act, 2018, No. 1 (Bill), which includes proposed legislative changes that will be of interest to Canada’s financial sector. The Bill provides the government’s response to consultations undertaken in 2016 (see our August 2016 Blakes Bulletin: Canada’s Financial Sector: Legislation for the Future) and 2017 (see our August…

2018 Ontario Budget: Registered Pension Plan Issues

April 2, 2018

On March 28, 2018, the Ontario government tabled its 2018 budget (Budget), which included a number of registered pension plan related provisions. On that same day, the government introduced Bill 31, Plan for Care and Opportunity Act (Budget Measures), 2018, which, if passed, will implement certain provisions of the Budget (Bill 31). The Budget reiterated the government’s leadership role in…

Supreme Court Hearing Leaves Cooperative Capital Markets Regulatory System in Limbo

March 28, 2018

The Supreme Court of Canada’s recent hearing on the constitutionality of the proposed cooperative capital markets regulatory system (Cooperative System) has thrown a wrench into the implementation of the Cooperative System. The Supreme Court recently heard an appeal from the Quebec Court of Appeal’s ruling last spring that the Cooperative System is unconstitutional in significant respects. For more information please…

FCAC Concludes No Widespread Mis-Selling by the “Big Six” Banks

March 27, 2018

In early 2017, following media allegations that Canadian banks were using high-pressure tactics and practices to sell a broad range of products and services to Canadian customers, the Financial Consumer Agency of Canada (FCAC) began a review of domestic retail sales practices of Canada’s six largest banks. The review took place between May and November 2017 and involved a significant…

Securities Regulators Tell Aurora and CanniMed to Play by the (New) M&A Rules

March 26, 2018

The Financial and Consumer Affairs Authority of Saskatchewan and Ontario Securities Commission (together, the Commissions) recently released the highly-anticipated reasons for their decision relating to the unsolicited take-over bid (Aurora Offer) by Aurora Cannabis Inc. (Aurora) to acquire CanniMed Therapeutics Inc. (CanniMed). The decision is the first time since the new take-over bid rules were adopted in 2016 that the…

Quebec’s Updated Act Respecting Labour Standards Presents New Challenges for Employers

March 23, 2018

On March 20, 2018, Quebec’s Minister responsible for Labour, Dominique Vien, presented Bill 176: An Act to amend the Act respecting labour standards and other legislative provisions mainly to facilitate family-work balance (Bill) in the Quebec National Assembly. Despite numerous announcements promising a major restructuring of labour standards, the Bill does not overhaul the Act respecting labour standards (Act) to…

Secure the Deal: Be Clear About Title in Real Estate Purchase and Sale Agreements

March 22, 2018

In its recent decision, JBP Developments Ltd. v. Li, the Supreme Court of British Columbia (Court) reminded sellers of real estate and their advisers about the basic obligation to transfer clear title to the property for sale. Sellers of real estate should ensure that purchase and sale agreements are carefully drafted and include terms clearly setting out what title restrictions…

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