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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.

The game changer: OSC awards $7.5 million to three whistleblowers

The Ontario Securities Commission (the OSC) recently announced that it has awarded nearly $7.5 million to three whistleblowers on separate matters as part of its relatively nascent whistleblower program, which came into effect in 2016.

 

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Apple lawyer charged with insider trading

The recent insider trading case of a former senior lawyer at Apple Inc. serves as a reminder that those tasked with upholding a company’s insider trading rules are expected to ‘walk the walk’ when it comes to complying with ethical and legal obligations in handling confidential information. This case and similar prior cases remind us that counsel and firms ought to be vigilant and take proactive steps to monitor and enforce insider trading programs.

 

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Remediation agreements and other recent developments in white collar crime

Remediation agreements, a new tool for corporate accused, will continue to be in the spotlight as we all learn when prosecutors will be prepared to allow the use of remediation agreements and how their use will be received by the voting public.

 

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Ontario reveals the details about its performance standards for large industrial emitters

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On February 12th 2019, Ontario announced its proposed plan to reduce greenhouse gas (“GHG”) emissions, the Industrial Emissions Performance Standards Program.

 

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Recent guilty plea demonstrates that criminal liability for corruption may extend to corporate officers

Corporate criminal liability in Canada was expanded in 2013 following the R. v. Pétroles Global decision, which established that the “directing minds” of the corporation may be seated in the persons of middle management for purposes of establishing criminal liability of the company.

 

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Tech takes the wheel: Preparing Canada’s insurance sector for autonomous vehicles

A new report by the Insurance Bureau of Canada (IBC), representing Canada’s private property and casualty insurers, argues that fully automated vehicles – the advent of which could begin as early as 2020 – present new risks to the Canadian auto insurance sector and its stakeholders.

 

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OSC seeks to reduce regulatory burden in step with Ontario Red Tape Initiative

The Ontario Securities Commission announced on January 14, 2019, that its Burden Reduction Task Force, in coordination with the Ministry of Finance, has undertaken to lessen regulatory burdens and enhance competitiveness for Ontario businesses.

 

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New Canadian temporary immigration options under the CPTPP

The purpose of the CPTPP is to facilitate market access, investment opportunities and trade amongst the parties. Of interest from an immigration standpoint, the CPTPP contains new temporary immigration options for citizens of member countries.

 

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Damage control: Two recent decisions show the benefits and pitfalls of proactive risk management in products claims

Two recent Ontario decisions shed light on the conflicting consequences of a manufacturer’s attempts at risk mitigation when their product is defective.

 

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New Employer Health Tax comes into force

British Columbia’s new Employer Health Tax came into force on January 1, 2019. The Employer Health Tax is an annual payroll tax payable by British Columbia employers.

 

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Builders liens: The consequences of less than strict compliance

It is often difficult to calculate the running of the 45-day time limit in which builders liens have to be filed since a number of factors can trigger or extend that limit

 

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Certain provisions of the act to facilitate oversight of public bodies’ contracts and to establish the autorité des marchés publics to take effect

Following an inquiry into the contracting process in Quebec, the provincial government introduced Bill 108, the Act to facilitate oversight of public bodies’ contracts and to establish the Autorité des marchés publics based on the Commission’s recommendation.

 

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Mixed results in British Columbia white collar enforcement proceedings

Two high-profile cases in late 2018 demonstrate both the potentially grave consequences of securities law violations and the difficulties prosecutors face in securing convictions for white collar crime.

 

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Individual defendant receives three-year sentence for Canadian corruption conviction

On December 17th, 2018, Quebec’s Superior Court of Justice sentenced Yanaï Elbaz, a former senior manager of the McGill University Health Centre (MUHC), to a three-year prison term for his involvement in a bribery scheme in which SNC-Lavalin secured a $1.3 billion contract to build MUHC.

 

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