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Inside Internal Controls

News and discussion on implementing risk management

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Author Archive - McCarthy Tétrault LLP

McCarthy Tétrault is a Canadian law firm that delivers integrated business law, litigation services, tax law, real property law, labour and employment law nationally and globally. McCarthy publishes a series of blogs to share information with companies to help them comply and manage their businesses. On the Inside Internal Controls blog we will share some of those blog posts sharing their expertise among others, in the areas of Competition/Anti-trust, Corporate and Commercial Law, Intellectual Property, Privacy, Environmental Law, Technology and Litigation. Read more here

The Ontario Court of Appeal determines when it is appropriate to vest out a royalty interest as part of an insolvency proceeding

Ontario’s highest court has created a framework for determining when it is appropriate for courts to approve sales and vest out interests in assets in the context of insolvency proceedings. This has given resource extraction industries and insolvency practitioners some much needed clarity on how to navigate situations when assets subject to encumbrances and other interests are being sold, especially when land subject to a royalty interest is involved.

 

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Final amending regulations issued under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act

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On July 10, 2019, final amending regulations were issued amending each of the existing regulations under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act.

 

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Deceptive marketing in the spotlight: Ticketmaster to pay Competition Bureau penalty of $4.5 million

In a recent article, the Competition Bureau’s focus on high-impact, consumer-focused digital economy investigations, including specifically investigations into drip pricing practices was highlighted. On June 27, 2019, the Bureau announced that its investigation into such practices by Ticketmaster had concluded with a consent agreement.

 

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M&A disputes: When will a corporation be liable for an officer’s or director’s fraud? Supreme Court provides new guidance

Should a corporation be liable for fraud committed by its director or officer where it may also have benefitted? The Supreme Court of Canada grappled with this question recently in the context of a dispute arising from a fraudulent investment scheme to acquire commercial real estate.

 

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Commissioner of Competition makes his mark: Rare merger challenges

A recent notice of application filed with the Canadian Competition Tribunal is the first contested merger challenge since the Staples / Office Depot transaction in 2015 and the first by the current Commissioner who himself received a permanent appointment as Commissioner only in March 2019.

 

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Blockchain: Just because it’s a buzzword doesn’t mean it’s not the future of the supply chain

In the 2018 contaminated lettuce incident, what if it had been possible to trace the exact path of each shipment of lettuce and then remove from the marketplace only those products that could reasonably have been affected? With blockchain, that would have been possible.

 

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Financial Stability Board delivers report on financial stability implications of decentralised financial technologies

On June 6, 2019, the Financial Stability Board (the “FSB”), an international body that coordinates the work of national financial authorities, published a report on “Decentralised financial technologies” in response to a request by the Japanese presidency of the G20.

 

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Payments Canada proposes new rule for debit payments

Payments Canada recently announced a proposal for a new rule (the Proposed Rule) aimed at increasing the availability of point-of-service (POS) debit card acceptance in Canada. The underlying goal of the Proposed Rule is the transition towards digital payments and decreasing reliance on cash transactions.

 

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Transportation pilot projects in Ontario and British Columbia

Recent technological advances in self-driving cars, e-scooters and electric low-speed vehicles are rapidly changing the nature of personal and commercial transportation. While some laud such technology as convenient, inexpensive, and environmentally-friendly alternatives to traditional means of transportation, others are concerned about the safety ramifications of their presence on roads.

 

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IIROC Releases its annual Enforcement Report for 2018

Earlier this month, the Investment Industry Regulatory Organization of Canada (“IIROC”) published its annual Enforcement Report for 2018 (the “Report”), highlighting its enforcement/discipline activities over the course of 2018.

 

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Anti-money laundering considerations in cannabis finance

While the right financing structure can be a critical advantage to any cannabis-related business, it is also important to remember that there are legal considerations involved, including in respect of anti-money laundering (AML) matters.

 

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OECD principles on artificial intelligence released

On May 22, 2019, the Organization for Economic Cooperation and Development (OECD) approved the OECD Recommendation on Artificial Intelligence.

 

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Québec Commission d’accès à l’information releases guidance on video surveillance

In February 2019, the Québec Commission d’accès à l’information released an updated guide on video surveillance titled, La Vidéosurveillance: Conseils pratiques à l’intention des organismes publics et des entreprises.

 

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The corporate identification doctrine clarified through an intervention in the Supreme Court of Canada

A corporation is of course an abstract entity. It is a legal person, but can only act through human beings. Certain causes of action, such as fraud or knowing assistance of a breach of trust, have a knowledge requirement: the defendant can only be held liable if he or she – or it, in the case of a corporation – has knowledge of certain facts. How can a corporation be held liable for having certain knowledge if it has no brain to possess that knowledge?

 

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Canadian government announces new Digital Charter

On May 21, 2019, the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development, announced the introduction of Canada’s new Digital Charter. This blog post summarizes the highlights of Minister Bains’ announcement and the principles of the Digital Charter.

 

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