Category: Industries

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Lobbying and Election Finance Reform: Roundup of Recent Developments

December 11, 2018

British Columbia, the Northwest Territories and Ontario have recently introduced significant changes to their respective lobbying and election finance regimes; the Yukon has introduced a new lobbying regime, and Prince Edward Island’s lobbying regime takes effect in 2019. LOBBYING LEGISLATION British Columbia: Proposed Amendments to the Lobbying Regime Bill 54, Lobbyists Registration Amendment Act, 2018 (B.C. Bill) received royal assent…

Ontario, B.C. Release New Greenhouse Gas Reduction Plans

December 10, 2018

The governments of Ontario and British Columbia recently released new environmental plans that will guide the development of environmental legislation and policies in each province for the foreseeable future. Ontario released the Preserving and Protecting our Environment for Future Generations: A Made-in-Ontario Environment Plan (Proposal) and B.C. released its CleanBC plan. These plans will lead to economic opportunities for certain…

AMF Provides Summary of Oversight and Regulatory Activities

December 6, 2018

The Corporate Finance Division of Quebec’s Autorité des marchés financiers (AMF) recently released its annual Summary of Oversight and Regulatory Activities (Report). In addition to providing a snapshot of the Quebec capital markets, the Report identifies a range of deficiencies encountered by the AMF in its ongoing review of various continuous disclosure and financing documents of Quebec issuers and highlights…

Codes of Responsible Business Conduct: When Good Intentions Become Binding

December 3, 2018

Voluntary codes of conduct have become common (and even expected) practice as part of a broader corporate social responsibility (CSR) strategy for companies across all industries. Increasingly, companies have been facing litigation and reputational risks in connection with the implementation of their CSR goals and policies as articulated in their codes of conduct.

Selected Tax Measures from the 2018 Fall Economic Statement: Changes for Capital Assets, Canadian Journalism

November 22, 2018

On November 21, 2018, Canada’s Finance Minister Bill Morneau presented the federal government’s Fall Economic Statement (Statement), which includes significant tax changes that take effect immediately. This bulletin highlights two tax measures included in the Statement: changes to Canadian tax depreciation rates for new investments in capital assets, and measures designed to support Canadian journalism. ACCELERATED TAX DEPRECIATION FOR NEW…

Coming to a Store Near You: Ontario Unveils Its Retail Cannabis Licensing Regulations

November 16, 2018

The Government of Ontario (Government) has released its much-anticipated cannabis retail licensing regulations (Regulations) that set out several of the requirements for parties seeking to enter the retail market. It is expected that the Alcohol and Gaming Commission of Ontario will begin accepting applications on December 17, 2018, with stores to open by April 1, 2019. OPERATIONS Stores will need…

Beneficial Ownership: New Developments

November 15, 2018

The Minister of Finance recently introduced Bill C-86, Budget Implementation Act, 2018, No. 2 (Bill C-86). Though Bill C-86 makes some minor modifications to the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) in respect of importing or exporting currency in amounts greater than C$10,000, from a regulated entity perspective, the most significant changes are the ones proposed to…

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…

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…

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…

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