First Reference company logo

Inside Internal Controls

News and discussion on implementing risk management

machine cogs image

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

Robust information about purchasers/assignees may be required before contracts will be assigned under the CCAA

In Dundee Oil and Gas Limited (Re), 2018 ONSC 3678, Justice Dunphy provided some important guidance on information that should be provided to the court in support of a motion for an order assigning contracts pursuant to section 11.3 of the Companies’ Creditors Arrangement Act, RSC 1985, c. C-36.

 

, , ,

Ontario court declines to enjoin termination of franchise agreement

In the recent decision Azmoon Trading Inc. v. Caffe Demetre Franchising Corp., 2018 ONSC 2868 (“Azmoon”), the Ontario Superior Court of Justice dismissed a Franchisee’s motion for injunctive relief prohibiting the Franchisor from terminating the franchise agreement (the “Agreement”).

 

, ,

Modernizing Canada’s industrial design regime: Top 10 changes

On June 27, 2018, the Government of Canada published upcoming changes to the Industrial Design Regulations (IDRs). The revised IDRs amend industrial design practice under the existing Industrial Design Regulations and introduce new provisions to implement the Hague Agreement for international industrial design applications and registrations.

 

, ,

Draft amending regulations issued under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act, including in respect of virtual currencies and prepaid cards

New regulations issued June 9, 2018, follow the recent 2016 Financial Action Task Force (FATF) Mutual Evaluation Report for Canada (the “FATF Report”) which concluded that Canada largely has a strong legal framework and competent authorities dealing with money laundering and terrorist financing risks, but noted certain deficiencies that needed to be addressed.

 

, , ,

Canadian developments in digital identity

search-warrant

Digital identity is increasingly becoming a hot topic globally and Canada is no exception. For example, amendments to the Bank Act (and equivalent legislation in respect of federal insurance companies and federal loan and trust companies) have recently been introduced permitting federally regulated financial institutions to provide “identification, authentication or verification services”.

 

, , , , , ,

What you need to know about the July 2018 amendments to the Ontario Construction Lien Act

On July 1, 2018, the first round of amendments to the Ontario Construction Lien Act – including its new name, the Construction Act – came into force.

 

, , ,

CASL enforcement: Recent trend

It can be relatively difficult to read the tea leaves in the CRTC’s approach to CASL enforcement, because there is little public record of those enforcement activities. This was noted by the Standing Committee on Industry, Science and Technology, in its statutory review of the Act. However, what signs do exist suggest that enforcement activities are accelerating. In 2016 and 2017, the CRTC announced only one undertaking in a CASL proceeding. By contrast, in the first quarter of 2018, there have already been two.

 

, , , ,

Wade-ing into the limits on post-contractual conduct: BC Court of Appeal confirms post-contractual conduct may be considered only if contract contains ambiguity

Attempts by litigants to rely on post-contractual conduct are not uncommon in commercial litigation involving contractual interpretation. However, in the case of Wade v. Duck, an important reminder is offered that Canadian contract law places strict limits on the circumstances in which courts may have recourse to post-contractual conduct when interpreting a contract.

 

, ,

FCAC releases report on best practices in financial consumer protection

The Report on Best Practices in Financial Consumer Protection published by the Financial Consumer Agency of Canada outlines several best practices for financial consumer protection regimes.

 

, , ,

Recent SEC settlement is cautionary tale for Canadian public issuers on disclosure of cyberincidents and related risks

The Securities and Exchange Commission’s (SEC) first enforcement action against a public issuer for failure to make timely disclosure of cyberincidents may be a wake-up call for Canadian public issuers and their directors and officers.

 

, , ,

CASL enforcement: Recent trend

It can be relatively difficult to read the tea leaves in the CRTC’s approach to CASL enforcement, because there is little public record of those enforcement activities. This was noted by the Standing Committee on Industry, Science and Technology, in its statutory review of the Act. However, what signs do exist suggest that the enforcement activities of the CRTC are accelerating.

 

, , , , , , , , ,

B.C. Supreme Court approves wind-up of Richmond Strata, issues guidance on ensuring a fair sale process

In this case, the Court concluded that it was in the best interests of the owners that the Resolution be confirmed and that it would probably cause greater unfairness, confusion, and uncertainty if the Resolution were not confirmed.

 

, ,

Department of Finance Canada issues consultation paper on review of the Canadian Payments Act

A recent Consultation Paper sought comments on whether the 2015 Amendments had been successful in better enabling Payments Canada to meet its mandate to promote the efficiency, safety, and soundness of its systems while taking into account the interests of users.

 

, , , , ,

Online advisors: Stand-alone investment managers or tools for portfolio managers?

While the use of technology can lower the cost of investment advisory services, the introduction of algorithmic technology or other forms of artificial intelligence into the investment advice process introduces new risks to investors which raises questions.

 

, , , ,

A cautionary tale: Saskatchewan Court refuses to approve $20 million class action settlement

Subject to the outcome of any appeal, Perdikaris v. Purdue Pharma et al., serves as a cautionary tale to class action parties entering into a settlement that they keep in mind the reasonableness of the proposed settlement before concluding it.

 

, , ,

Previous Posts Next posts