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Alert: Ontario Reintroduces 2014 Budget with Provisions Affecting Pensions

July 15, 2014

On July 14, 2014, the Ontario government reintroduced its budget that it had originally tabled on May 1, 2014, which lists a number of key pensions-related matters, including the introduction of the Ontario Registered Pension Plan that supplements the Canada Pension Plan; a legislative framework for Pooled Registered Pension Plans; consultation on target benefit plans; reforms for defined benefit pension…

Horns Locked Between Investors and Issuers Over Proxy Advisory Firm Regulation

July 14, 2014

In our May 2014 Blakes Bulletin: CSA’s Light Touch Proxy Advisory Firm Proposal May Disappoint Issuers, we predicted that the Canadian Securities Administrators’ (CSA) proposed National Policy 25-201 – Guidance for Proxy Advisory Firms (Proposed Policy) might disappoint Canadian issuers. The proposed guidelines have provoked lively criticism from not only issuers, but also institutional investors and their associations, with both…

Ontario Can “Take Up” Lands Under Treaty 3 Without Seeking Federal Approval

July 11, 2014

Today, the Supreme Court of Canada (SCC) released its decision in the Keewatin case, confirming that Ontario can “take up” lands in Treaty 3, in northwestern Ontario, without requiring preapproval from the federal government. This decision confirms that the provinces retain jurisdiction, as defined in the Constitution, over land ceded to the Crown by treaty with First Nations. The court…

Saskatchewan and New Brunswick Join the Cooperative Capital Markets Regulatory System

July 10, 2014

On July 9, 2014, the federal Canadian government and the Saskatchewan and New Brunswick provincial governments entered into an amended agreement in principle (the Agreement) to join the Cooperative Capital Markets Regulatory System (the Cooperative System). This amends the September 19, 2013, agreement in principle among the federal government and the British Columbia and Ontario provincial governments to establish the…

The CSA Extend Elements of Mutual Fund Regulation to Closed-End Funds

July 9, 2014

  On June 19, 2014, the Canadian Securities Administrators (CSA) published the final instalment of the amendments (Amendments) to National Instrument 81-102 (NI 81-102) and the Companion Policy 81-102 CP (CP) (and consequential amendments to other instruments) bringing to an end stage one of Phase 2 of the CSA’s Modernization of Investment Fund Product Regulation Project (Modernization Project). The key…

No Holiday for Employers: Summer Legislative Update

July 9, 2014

2014 MINIMUM WAGE INCREASES Ontario Increases Minimum Wage   On June 1, 2014, the general minimum wage in Ontario became C$11 per hour. This is reflected in amendments to Regulation 285/01 of the Employment Standards Act, 2000. The regulation also provides the minimum wage rates for students, liquor servers, homeworkers and hunting/fishing guides, which also increased effective June 1, 2014. What…

​Augusta’s Rights Plan – BCSC Releases Reasons for Decision

July 8, 2014

On June 27, 2014, the British Columbia Securities Commission (BCSC) released the reasons for its May 2, 2014 decision declining to immediately cease trade the shareholder rights plan (also known as a “poison pill”) of Augusta Resource Corporation (Augusta) in the face of a hostile take-over bid for Augusta made by HudBay Minerals Inc. (Hudbay). In its decision, the BCSC…

CRTC Updates FAQS on Registered Charities Under CASL

July 7, 2014

On July 1, 2014, Canada’s Anti-Spam Legislation (CASL) came into force. For many organizations in the charitable and not-for-profit sector (collectively, NFPs), the road to compliance was and continues to be a challenge. In particular, questions surrounding the scope and applicability of the registered charities exemption have resulted in confusion and uncertainty for many NFPs. Last Friday, the Canadian Radio-television…

Conducting Business in Africa: The Impact of Canada’s Corruption of Foreign Public Officials Act

July 7, 2014

According to statistics released by the International Monetary Fund, 12 of the 20 fastest-growing economies into 2015 will be African nations. Opportunities are thriving for investors seeking to tap into Africa’s increasingly attractive business environment. While there have been improvements in governance and security in the past decade, the region’s history of instability and corruption continues to be a source…

A Refreshing Decision: Quebec Court Refuses to Authorize vitaminwater® Class Action

June 20, 2014

  On June 11, 2014, the Quebec Superior Court rendered an important class action decision in the matter ofWilkinson c. Coca-Cola Ltd., dismissing a motion for authorization to institute a class action against Coca-Cola Ltd. and Energy Brands Inc., who were accused of making false representations regarding the contents and benefits of vitaminwater® beverages.     FACTUAL CONTEXT   The…

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