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Inside Internal Controls

News and discussion on implementing risk management

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Author Archive - Occasional Contributors

In addition to our regular guest bloggers, Inside Internal Controls blog published by First Reference, provides occasional guest post opportunities from various subject matter experts on the topics of risk management and best practices in finance and accounting, information technology, environmental issues, corporate governance, sales/marketing and operations, not-for-profits and business related issues in Canada. If you are a subject matter expert and would like to become an occasional blogger, please contact Yosie Saint-Cyr at editor@firstreference.com. If you liked this post and would like to subscribe to Inside Internal Controls blog click here.

Commercial financing: Common security types

The purpose of this article is to summarize the features of some of the more common security types used in commercial financing transactions. In any particular transaction, the security used depends on the asset types.

 

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Changes to Montreal’s class action division shows move toward harmonization with Ontario procedure

This new class action process has widely been seen as a welcomed step towards creating greater efficiency and predictability

 

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The risks of complaining on social media: When airing grievances attracts damages

Social media users are well cautioned to appreciate the difference between a fair and legally justified expression of opinion and reflection of experiences and when posts cross into the defamatory realm of maliciousness and/or untruthfulness.

 

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Changes to loyalty programs and rewards points in Ontario and Québec

Merchants offering loyalty programs will be required to provide consumers with pre-disclosure information prescribed by Regulation, which include the terms and conditions applicable to earning and exchanging exchange units, as well as the terms surrounding the expiry of exchange units.

 

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When a party breaches a settlement agreement: Being made whole

A party that breaches a settlement agreement risks both being forced to complete the agreement and having to pay the legal costs of the party seeking to enforce the agreement.

 

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Canada’s oldest stock exchange enters cryptocurrency market

TMX Group Ltd., which owns the 166 year-old Toronto Stock Exchange, announced on March 22, 2018 that it would launch a cryptocurrency platform and thereby enter the burgeoning market for virtual currencies.

 

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Ontario budget 2018: Financial services updates

The 2018 Ontario Budget includes a number of financial services related developments, with a strong focus on innovation.

 

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Your business and your will – Shareholders’ agreements

A Shareholders’ Agreement is a very important component of any business owner’s succession plan.

 

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Law Commission of Ontario launches consultations for its Class Actions Reform Project

The LCO’s Class Actions Project will invite significant commentary from plaintiffs, defendants, consumers and industry organizations as well as interested counsel and academics. The result of the consultation remains to be seen, but the consultation represents the first opportunity in a generation to objectively examine the impact of class proceeding legislation from an empirical perspective, and could profoundly affect the future of collective relief in Ontario.

 

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Alberta moves to strengthen its lobbying law: Proposed legislation would be among the strictest in country

If amendments to the Lobbyists Act, introduced on April 11 by the Government of Alberta, are passed by the Legislature, the Lobbyists Amendment Act, 2018, would make Alberta one of the strictest regulators of lobbying in the country.

 

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How to protect trade secrets following the departure of a key employee

Employers must keep in mind the fact that there is a thin line between, on the one hand, confidential information belonging to a company that remains protected by virtue of the duty of loyalty and, on the other hand, the personal knowledge and skills that an employee has acquired throughout the years and is entitled to bring to a competitor.

 

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It’s official: Mandatory data breach notification coming on November 1, 2018

The coming into force of mandatory breach notification and record-keeping requirements on November 1, 2018 should be viewed by organizations as an effort to align Canadian legal and regulatory requirements with those in the United States and Europe (especially with the General Data Protection Regulations – or GDPR – coming into force in May 2018).

 

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Changes to the Canada Pension Plan

It is important for employers, sooner rather than later, to start thinking about whether any changes need to be made to payroll costs in order to address the costs of an expanded CPP and whether amendments to pension and benefits plans will be required to accommodate the more generous CPP benefit.

 

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Senate of Canada to study charitable sector

On January 30th, 2018, the Senate of Canada passed a motion to appoint a Special Committee of the Senate to review issues related to the charitable sector in Canada. The Senate confirmed that the Committee’s general mandate will be to examine “the impact of federal and provincial laws governing charities, non-profit organizations, foundations, and other similar groups, and to examine the impact of the voluntary sector in Canada.”

 

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Gala event gone bad – President’s Club Charitable Trust

We report on this gala event not to comment on the legalities from the English law perspective, but to offer some preliminary comments on how Canadian law might apply if the President’s Club Charitable Trust’s fundraising event had happened in Canada. Canadian law requires employers to take steps to provide a workplace free from sexual harassment, with significant fines possible.

 

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