Reminder: Plan-Related Document Changes Arising from New Funding Rules for Ontario DB Pension Plans

June 3, 2019

This bulletin provides a reminder with respect to the new funding rules for Ontario defined benefit (DB) pension plans that came into effect on May 1, 2018. These new rules under the Ontario Pension Benefits Act (PBA) necessitate changes to certain plan-related documents, including the pension plan text, annual and biennial member statements, and the Statement of Investment Policies and…

Quebec Taxpayers Take Note: Timely Disclosure of Nominee Agreements Now Required

May 31, 2019

As mentioned in the March 21, 2019, Quebec budget, the Province of Quebec has bolstered the disclosure requirement of nominee agreements (Measure). This initiative is in line with its stated intention to protect the integrity and fairness of its tax system. The Measure forms part of the Quebec Ministry of Finance’s Information Bulletin 2019-5 (Bulletin) published on May 17, 2019, and…

Open for Business Act: What It Means for Alberta Employers

May 29, 2019

BACKGROUND On April 16, 2019, the United Conservative Party (UCP) won Alberta’s provincial election and went on to form a majority government. Several of the UCP’s campaign promises involved reversing changes made to Alberta’s employment and labour laws by its former New Democratic Party (NDP) government. As a result, one of the UCP’s first orders of business has been to…

Court of Appeal Unanimously Rules Against B.C. Blocking Trans Mountain Pipeline

May 28, 2019

On May 24, 2019, the British Columbia Court of Appeal decided unanimously that B.C.’s proposed amendments to the Environmental Management Act (Proposed Law) regarding the Trans Mountain expansion project (TMX Project) were unconstitutional. The court’s decision will have important implications for all provincial regulation of any works and undertakings, such as pipelines or railways, that cross provincial boundaries.    BACKGROUND…

Public Safety Canada Releases New Guide on Cybersecurity for Critical Infrastructures

May 28, 2019

Public Safety Canada (Public Safety) recently released Enhancing Canada’s Critical Infrastructure Resilience to Insider Risk, a guide designed to assist Canadian organizations in developing effective programs to mitigate and respond to security threats from insiders (Guide). Critical infrastructure is broadly defined as “processes, systems, facilities, technologies, networks, assets and services essential to the health, safety, security or economic well-being of…

Canada Lifts Retaliatory Surtaxes on Steel, Aluminum and Other Goods

May 22, 2019

On May 17, 2019, the Canadian and United States governments released a joint statement on Section 232 duties on steel and aluminum to announce they had reached an agreement to eliminate tariffs and countermeasures imposed on imports of steel and aluminum between the two countries, effective May 19, 2019. This announcement ends one of the countries’ most contentious trade issues…

Overtime for Employees Paid on an Annual Basis: Quebec’s Superior Court Denies Class Action Authorization

May 21, 2019

In its recent decision in Godin c. Aréna des Canadiens inc. (Decision), the Québec Superior Court (Court) refused to authorize an employment class action against Aréna des Canadiens inc. and Aréna du Rocket inc. (Arenas). The plaintiffs claimed that salaried employees were entitled under Quebec law to overtime pay if they worked more than 40 hours in one week. In…

CSA Propose Rules to Streamline “At-The-Market” Equity Offering Process for Canadian Issuers

May 13, 2019

On May 9, 2019, the Canadian Securities Administrators (CSA) published for comment proposed amendments (Proposed Amendments) to National Instrument 44-102 Shelf Distributions and its companion policy (Shelf Rules) that would permit “at-the-market” distributions of equity securities (ATM Distributions) in Canada to proceed without the need for an exemptive relief order from Canadian securities regulators. Comments on the Proposed Amendments are…

Changes to Monthly Sanctions Reporting Requirement

May 13, 2019

Recently, the federal government published amendments to the regulations made under the United Nations Act (UN Act) and the Special Economic Measures Act (SEMA), Canada’s key sanctions legislation. Among other changes, the amendments modify the monthly sanctions reporting obligation for Canadian-regulated financial institutions and securities dealers. On May 10, 2019, the Office of the Superintendent of Financial Institutions (OSFI) issued…

A Primer on Canadian Sanctions Legislation

May 13, 2019

Canada, like other major jurisdictions, has a broad range of economic and financial sanctions targeting foreign states and their nationals, as well as various terrorist organizations. Given that Canada is in many ways a trading nation, and many Canadian businesses have ties elsewhere, sanctions laws have a significant impact not only on the target countries but also on Canadian businesses….