On August 12, 2024, the Department of Finance released its Consultation on Proposals to Strengthen Canada’s Financial Sector, the third phase of the federal government’s ongoing review of Canada’s financial institutions laws....more
On July 26, 2024, the Ontario Ministry of Finance launched a consultation on proposed amendments to the Insurance Act that would create a regulatory framework for life and health managing general agents (L&H MGAs) and those...more
8/14/2024
/ Canada ,
Comment Period ,
Consultation Papers ,
Financial Services Industry ,
Health Insurance ,
Licensing Rules ,
Life Insurance ,
Ministry of Finance ,
Ontario ,
Proposed Amendments ,
Regulatory Agenda ,
Rulemaking Process
On March 5, 2024, Public Safety Canada made changes to the guidance on reporting requirements (“Guidance”) under the Fighting Against Forced Labour and Child Labour in Supply Chains Act, S.C. 2023, c. 9 (“the Act”) revising...more
On January 31, 2024, OSFI released its finalized Integrity and Security Guideline (“Guideline”). The Guideline is a result of the extension of OSFI’s mandate, as of January 1, 2024, to include the oversight of integrity and...more
Canada’s federal beneficial ownership transparency requirements are changing again. Beginning January 22, 2024, federal corporations will be required to provide certain information from their registers of individuals with...more
On December 20, 2023, the Government of Canada issued long-awaited guidance on reporting requirements (“Guidance”) under the Fighting Against Forced Labour and Child Labour in Supply Chains Act, S.C. 2023, c. 9 (“the Act”)....more
When the prospects of an acquired business are uncertain, an earnout can bridge the valuation gap between buyer and seller and help get the deal done. Taking this route is not without risk, however, particularly where...more
On October 13, 2023, OSFI released its draft Integrity and Security Guideline (“Guideline”). The Guideline, which would layer new and expanded expectations over existing applicable guidance, would apply to all Federally...more
On October 4, 2023, the Office of the Superintendent of Financial Institutions (“OSFI”) released details of a new supervisory framework (“New Framework”) that will apply as of April 1, 2024 to federally-regulated financial...more
Bill S-211 – the Fighting Against Forced Labour and Child Labour in Supply Chains Act – which requires businesses to report on their efforts to combat forced and child labour, is set to take effect in 2024. In this post,...more
9/7/2023
/ Canada ,
Child Labor ,
Corporate Social Responsibility ,
Critical Infrastructure Sectors ,
Forced Labor ,
Human Rights ,
International Labor Laws ,
Labor Reform ,
New Legislation ,
Risk Management ,
Slavery
Canada’s federal beneficial ownership transparency provisions are changing. Since 2019, most Canada Business Corporations Act (CBCA) corporations have been required to create and maintain registers of Individuals with...more
On May 11, 2023, the Fighting Against Forced Labour and Child Labour in Supply Chains Act, S.C. 2023, c. 9 (the “New Act”) received Royal Assent and became law. Formerly known as Bill S-211, the New Act requires certain...more
On February 28, 2023, the Office of the Superintendent of Financial Institutions (“OSFI”) announced the release of a draft Culture and Behaviour Risk Guideline (“Draft Guideline”). In response to feedback received in response...more
Canada’s proposed “modern slavery” legislation – the Fighting Against Forced Labour and Child Labour in Supply Chains Act (“New Act”) – is currently awaiting consideration by the House of Commons Standing Committee on Foreign...more
8/31/2022
/ Canada ,
Child Labor ,
Corporate Counsel ,
Corporate Liability ,
Corporate Social Responsibility ,
Forced Labor ,
Proposed Legislation ,
Publicly-Traded Companies ,
Regulatory Agenda ,
Regulatory Requirements ,
Slavery ,
Supply Chain
British Columbia’s Ministry of Finance is conducting a consultation on the adoption of its proposed restricted insurance agent licensing regime for incidental sellers of insurance. The proposal is similar to what is already...more
On June 1, 2022, the Québec government officially ended the province’s state of emergency first declared in March 2020 to deal with the COVID-19 health crisis.
The government also lifted the COVID-19 mask mandate for...more
6/23/2022
/ Canada ,
Coronavirus/COVID-19 ,
Health and Safety ,
Infectious Diseases ,
Masks ,
New Guidance ,
Personal Protective Equipment ,
Public Health ,
Public Health Emergency ,
Public Transportation ,
Workplace Safety
On June 1, 2022, the Québec government officially ended the province’s state of emergency first declared in March 2020 to deal with the COVID-19 health crisis.
The government has also announced that it will lift the...more
6/16/2022
/ Canada ,
Coronavirus/COVID-19 ,
Health and Safety ,
Infectious Diseases ,
Masks ,
New Guidance ,
Personal Protective Equipment ,
Public Health ,
Public Health Emergency ,
Public Transportation ,
Workplace Safety
On April 6, 2022, the Canadian Insurance Services Regulatory Organization (“CISRO”) adopted the Principles of Conduct for Insurance Intermediaries (“Principles”). In conjunction with that announcement, the Financial Services...more
With hospitalizations and staff absences in the Québec health-care system declining, the interim Québec National Director of Public Health announced on May 4, 2022 that the wearing of masks in public places indoors would be...more
With the recent rise in COVID-19 cases and hospitalizations, the interim Québec National Director of Public Health announced on April 5, 2022 that the wearing of masks in public places indoors (scheduled to be eliminated...more
4/7/2022
/ Canada ,
Coronavirus/COVID-19 ,
Health and Safety ,
Infectious Diseases ,
Masks ,
New Guidance ,
Public Health ,
Remote Working ,
Vaccinations ,
Vaccine Passports ,
Workplace Safety
On February 17, 2022, the Canadian Council of Insurance Regulators (“CCIR”) and the Canadian Insurance Services Regulatory Organizations (“CISRO”) released proposed guidance (“Draft Guidance”) on compensation and incentive...more
Recap -
As of February 28, 2022, bars, casinos and taverns were permitted to reopen with capacity limits. Capacity limits also remained for certain businesses, including restaurants, very large cinemas, performing arts...more
Recap -
In December 2021, the Québec Government ordered a number of businesses to suspend their activities (including restaurant dining rooms), imposed capacity limits on businesses permitted to remain open, required...more
2/17/2022
/ Coronavirus/COVID-19 ,
Critical Infrastructure Sectors ,
Employer Liability Issues ,
Employer Responsibilities ,
Health and Safety ,
Infectious Diseases ,
New Guidance ,
Public Gatherings ,
Re-Opening Guidelines ,
Vaccine Passports ,
Workplace Safety
Recap -
In December 2021, the Québec Government ordered a number of businesses to suspend their activities (including restaurant dining rooms), imposed capacity limits on businesses permitted to remain open, required...more
2/3/2022
/ Canada ,
Coronavirus/COVID-19 ,
Critical Infrastructure Sectors ,
Employer Liability Issues ,
Employer Responsibilities ,
Health and Safety ,
Infectious Diseases ,
Masks ,
Re-Opening Guidelines ,
Remote Working ,
Social Distancing ,
Vaccine Passports ,
Workplace Safety
Recap -
In December, 2021, the Québec Government ordered a number of businesses to suspend their activities (including restaurant dining rooms), imposed capacity limits on businesses permitted to remain open, required...more
1/27/2022
/ Business Closures ,
Canada ,
Coronavirus/COVID-19 ,
Curfews ,
Emergency Management Plans ,
Health and Safety ,
Infectious Diseases ,
Public Health Emergency ,
Remote Working ,
Telecommuting ,
Vaccinations ,
Vaccine Passports ,
Workplace Safety