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Inside Internal Controls

News and discussion on implementing risk management

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Business and Legal Issues

Test for patent obviousness not so obvious – Federal Court of Appeal affirms obviousness is a “flexible, contextual, expansive, and fact-driven inquiry”

In late January, in two decisions released simultaneously, the Federal Court of Appeal affirmed the broad and factually-suffused nature of the obviousness inquiry.

 

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Benefits of industry group intervention in the Federal Court of Canada

The Federal Court is tasked with hearing a wide variety of judicial review applications that can have a substantial impact on Canadian industry and technology sectors.

 

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Whistleblower, hacker, or both? How the Rui Pinto Case can be applied to corporate compliance officers

Rui Pinto was arrested in January by authorities in Budapest on suspicions of illegally hacking emails about European soccer clubs and providing them to the Football Leaks website.

 

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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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Focusing board attention on management

Rather than trying to make sure themselves that everything is right, the board should focus its limited time on gaining comfort that it has the right management team in place, a team capable of getting things right.

 

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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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The positive side of risk

So how should we talk about the good stuff if we reserve the word ‘risk’ for the bad?

 

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New 2019 Competition Act and Investment Canada Act merger review thresholds

Certain types of transactions that exceed prescribed thresholds require pre-merger notification under Canada’s Competition Act. Such transactions cannot be completed until notice has been given to the Commissioner of Competition and the statutory waiting period has expired or, alternatively, has been terminated early or waived by the Commissioner. One of these thresholds, the transaction-size threshold, is subject to an annual index adjustment.

 

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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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Hyperventilating about cyber – Part 2

Is the level of concern about cyber merited? Should organizations and individuals be as worried about the possibility and consequences of a breach as they are advised by the consultants, information security pundits, and in news reports?

 

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Redwater – SCC delivers the final word

On February 1, 2019, the Supreme Court of Canada (SCC) released its highly anticipated decision in the Orphan Well Association, et al. v. Grant Thornton Limited, et al, 2019 SCC 5 (Redwater).

 

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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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