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Government of British Columbia Introduces Indigenous Consent Requirement for Major Projects

November 14, 2018

On November 5, 2018, the B.C. government introduced Bill 51 – 2018: Environmental Assessment Act (Bill 51), which looks to replace the province’s current Environmental Assessment Act. Bill 51 proposes a dramatic shift in the project approval process in B.C. that, if passed, would create consent-based participation rights for Indigenous peoples.  BACKGROUND On March 7, 2018, the B.C. government announced…

Changing U.S. National Security Rules: What This Means for Mergers and Acquisitions

November 13, 2018

Investments involving Canadian companies face increasing scrutiny from Canada’s security and intelligence agencies and closest allies (the U.S., the U.K., Australia and New Zealand, known as the Five Eyes). Since 2009, the Investment Canada Act has provided a process that allows the Canadian authorities to review, block or remedy foreign direct investments in Canadian businesses on national security grounds. This…

Confronting Money Laundering and Terrorist Financing: Canada Considers Vast Changes to AML Regime

November 13, 2018

The Standing Committee on Finance (Committee) recently released its report, Confronting Money Laundering and Terrorist Financing: Moving Canada Forward (Report), where it makes 32 recommendations on proposed modifications and additions to the Canadian anti-money laundering (AML) regime. The Report follows and responds to the Department of Finance’s consultation paper (Consultation Paper) on Canada’s anti-money laundering (AML) regime, which was published…

Second Time’s A Charm: SCC Gives the Green Light to National Securities Regulator

November 12, 2018

On November 9, 2018, the Supreme Court of Canada (SCC) ruled that the proposed cooperative capital markets regulatory system (Cooperative System) is constitutional. The unanimous decision opens the door to a proposed pan-Canadian securities regulator that will exercise delegated authority from participating jurisdictions. Under the proposed Cooperative System, a single regulator – the Capital Markets Authority (Authority) – would receive…

A New Federal Financial Consumer Protection Framework

November 12, 2018

On October 29, 2018, the federal government introduced Bill C-86, Budget Implementation Act, 2018, No. 2 (Bill C-86), the second omnibus budget bill of 2018. If passed, Bill C-86 will, among other things, amend the Bank Act to provide for a financial consumer protection framework (Framework) for banks and authorized foreign banks. The Framework is primarily set out in a…

Alberta Revises Internal Procedures for Addressing First Nations and Métis Settlement Consultation

November 12, 2018

On October 31, 2018, the Alberta Aboriginal Consultation Office (ACO) and the Alberta Energy Regulator (AER) released revised Joint Operating Procedures for First Nations and Métis Settlement Consultation on Energy Resource Activities (Procedures). These Procedures address coordination of activities between the ACO and AER concerning consultation with First Nations and on Métis Settlements. For more information on the Procedures please…

Bill C-86: Shaking Up Canada’s IP Legislation

November 6, 2018

The Government of Canada has introduced Bill C-86, Budget Implementation Act, 2018, No. 2 (Bill C-86), which proposes a number of legislative changes to Canada’s intellectual property (IP) laws and the Copyright Board of Canada’s (Copyright Board) legislative framework. These changes aim to further Canada’s new IP strategy, which was announced in April 2018. For information on Canada’s new IP…

Ain’t That Sweet! Court Excludes Equity Sweeteners from Criminal Interest Rate Calculation

November 1, 2018

The Supreme Court of British Columbia (Court) has clarified the potential application of Canada’s prohibition against charging criminal interest to arm’s-length commercial lending transactions that include mechanisms to capitalize on the borrower’s future growth through equity “sweeteners” or “kickers.” In its October 26, 2018 decision in Cirius Messaging Inc. v. Epstein Enterprises Inc., the Court held that the criminal interest…

Canada Overhauls Its Industrial Design System

November 1, 2018

On November 5, 2018, extensive changes to Canada’s industrial design system will come into effect. These changes are being implemented through amendments to the Industrial Design Act (Act), the Industrial Design Regulations (Regulations) and the Industrial Design Office Practice Manual (Practice Manual). The changes will be effective for any design applications filed on or after November 5, 2018. ACCESSION TO…

Written Spill Reporting Requirements in British Columbia Now In Effect

October 31, 2018

On October 30, 2018, British Columbia significantly expanded its spill reporting requirements to include written reports, thus implementing the last of the amendments to the spill management and reporting requirements under the Environmental Management Act (EMA) that came into force on October 30, 2017. Reporting of all spills must now include multiple written reports, which meet extensive prescriptive components. For…

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