Category: Industries

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Year in Review: Legislation and Guidance for Financial Institutions in 2014

January 20, 2015

2014 was a year replete with new legislative and regulatory initiatives impacting federally regulated financial institutions. The key initiatives introduced or implemented in 2014 are outlined in our annual year in review. PRUDENTIAL REGULATION: GUIDANCE FROM OSFI Proposed New Bail-in Regime for Large Banks On August 1, 2014, the Government of Canada introduced a consultation paper recommending a statutory conversion…

Year in Review: Legislation and Guidance for Financial Institutions in 2013

January 20, 2015

The regulatory world for federally regulated financial institutions (FRFIs) continued to get more complex in 2013, with a multitude of legislative and regulatory initiatives being proposed and implemented in the course of the year. We summarize these developments below. POLICY INITIATIVES Canada’s Economic Action Plan 2013 A New Consumer Code On March 21, 2013, the federal government published its Economic…

Reminder: CASL’s Software Installation Provisions Take Effect on January 15, 2015

January 14, 2015

  Phase 2 of Canada’s Anti-Spam Legislation (CASL) relating to the installation of computer programs will come into force on January 15, 2015. Commonly referred to as the malware prohibition, CASL goes far beyond prohibiting malware and will impact companies that install computer programs even where there is no improper purpose. As a result, many businesses, including those outside of…

CSA Implements Amendments to Oil and Gas Disclosure Requirements

January 7, 2015

  The Canadian Securities Administrators (CSA) have implemented significant amendments to the oil and gas disclosure requirements contained in National Instrument 51-101 Standards of Disclosure for Oil and Gas Activities (NI 51-101), its Companion Policy (CP 51-101) and related forms and notices. The changes affect both general, ongoing disclosure relating to oil and gas activities and specific annual disclosure requirements….

Lobbying Legislation Changes for Communicating with Ontario and Alberta Governments

January 6, 2015

  Recent amendments to Ontario and Alberta’s lobbying regimes will mean changes for persons who communicate with governments in those jurisdictions. The effective date of Ontario’s legislation has yet to be announced while Alberta’s amendments have already taken effect.     AMENDMENTS TO ONTARIO’S LOBBYISTS REGISTRATION ACT   In August, the Ontario government introduced Bill 8, Public Sector and MPP…

A War Measures Act for Canada’s Financial System: Regulation of Systemic Risk by Cooperative Capital Markets Regulator

December 4, 2014

  The Canadian government and the governments of British Columbia, New Brunswick, Ontario, Prince Edward Island and Saskatchewan (Participating Provinces) have signed a memorandum of agreement to formalize the terms and conditions of a proposed cooperative capital markets regulatory system (Cooperative System). For more information on this, please see our September 2014 Blakes Bulletin: Cooperative Capital Markets Regulatory System Agreement…

Alberta Court Sheds Light on Gross Negligence Standard Required of Oil & Gas Operators

November 19, 2014

  The Alberta Court of Queen’s Bench recently addressed whether an operator of oil wells was grossly negligent in its development of a well, and in so doing added clarity to that term.   BACKGROUND In Bernum Petroleum Ltd v. Birch Lake Energy Inc, (Bernum), Bernum Petroleum Ltd. (Bernum), the operator, sought to recover the share of drilling costs of…

Commissioner of Lobbying Releases Draft Revised Lobbyists’ Code of Conduct

November 5, 2014

  In October, the federal Commissioner of Lobbying released a revised draft of the Lobbyists’ Code of Conduct (Draft Code) for consultation. The existing Code provides a set of principles and rules outlining the behaviour expected of lobbyists in Canada. The Draft Code proposes several key amendments. Public affairs professionals and other lobbyists should take advantage of the consultation process…

B.C.’s Draft Legislation to Implement LNG Tax – Many Answers, Some Questions

November 3, 2014

  On October 21, 2014, the B.C. government released draft legislation introducing a liquefied natural gas (LNG) income tax (LNG Tax) on liquefaction activities that take place at LNG facilities in the province. The draft legislation provides details of the proposed new tax and answers questions that were left open in the high level discussion of the tax in the…

Another Refreshing Decision: Certification Denied in B.C. vitaminwater® Class Action

October 29, 2014

  INTRODUCTION   Earlier this month, the British Columbia Supreme Court released its judgment in Clark v. Energy Brands Inc.and refused to certify a proposed class proceeding regarding alleged breaches of British Columbia’s Business Practices and Consumer Protection Act (BPCPA) in relation to the labelling and marketing of vitaminwater® beverages. This follows a previous decision in June by the Quebec…

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