Category: Europe

Clawback Policies Gain More Ground in Canada

November 18, 2019

Despite a lack of legislative change over the past eight years, the use of “clawback” provisions—arrangements under which an employee forfeits previously awarded compensation—have become increasingly common in Canada. Canadian public companies listed in the U.S. are subject to statutory clawbacks for certain employees. As well, certain Canadian financial institutions regulated by the Office of the Superintendent of Financial Institutions…

The syncreon Group: Landmark Case Recognizes English Schemes of Arrangements in Canada

November 14, 2019

In October 2019, syncreon Group Holdings B.V. and its subsidiaries (collectively, the syncreon Group) completed a landmark cross-border balance sheet restructuring of approximately US$1.1-billion of debt. The syncreon Group’s restructuring is believed to be the first time that English scheme of arrangement proceedings have been used to restructure debt issued by a U.S.-based multinational enterprise (Scheme Proceedings). Further, in its…

Private M&A in Canada and the U.K.: 10 Considerations for Dealmakers

July 12, 2018

Prudent investors may gain an advantage by leveraging their knowledge of differences in private M&A market practices between Canadian and U.K.-style purchase agreements. While Canadian M&A takes many cues from the United States and Europe, it is not a carbon copy of either. This article provides an overview of the key differences between the two jurisdictions. 

What the GDPR Means for Canadian Businesses

May 15, 2018

On May 25, 2018, the European Union’s General Data Protection Regulation (GDPR) will come into force. Though not a Canadian law, the GDPR will apply to Canadian businesses that offer goods or services to, or monitor the behaviour of, EU residents. Canadian businesses that process personal information on behalf of organizations located in the EU will also be impacted.  The…

Cross-Border Private M&A in Canada: 10 Tips for Foreign Acquirers in 2018

March 29, 2018

As predicted, Canadian private M&A picked up steam in 2017, owing to a marked increase in acquisitions by non-Canadian financial and strategic buyers. This may be due in part to stability in Canada’s financial and governance systems as well as exponential growth in the tech sector. While Canadian M&A takes many cues from the United States and Europe, it is…

CETA’s Impact on the Canadian Market

September 21, 2017

The Canada-European Union Comprehensive Economic and Trade Agreement is now in force, on a provisional basis, creating new opportunities for Canadian businesses. We will be releasing a number of resources to help you navigate this new landscape, including: A Primer on the Canada-European Union Comprehensive Economic and Trade Agreement Also, please see the following articles: CETA Now in Force: Are…

A Primer on the Canada-European Union Comprehensive Economic and Trade Agreement

September 21, 2017

CETA is the Comprehensive Economic and Trade Agreement between Canada and the European Union (EU) and its member states. CETA comprises 30 chapters of rules respecting trade between Canada and the EU. The agreement was signed by Canadian and EU leaders on October 30, 2016. CETA will enter into force, on a provisional basis, on September 21, 2017.

London Interbank Offered Rate to Be Replaced By End of 2021

August 31, 2017

The U.K.’s Financial Conduct Authority (FCA) recently announced that the London Interbank Offered Rate (LIBOR) is to be phased out by the end of 2021 and replaced with a more reliable alternative. LIBOR is a daily benchmark interest rate set at approximately 11:45 a.m. (London time) every morning by a panel of leading banks in the U.K. It is the…

Moving the Goalposts: U.K. and U.S. Trends in Fintech Bank Licensing

January 9, 2017

The dominant fintech narrative for the Canadian banking industry shifted in 2016 from a new entrant versus incumbent storyline to one of collaboration, as major Canadian banks continued to partner with new technology entrants. The intent of these partnerships varies but they generally aim to expand the incumbent bank’s customer service offerings, improve its customer/user experience (or UX) or accelerate…