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News and discussion on implementing risk management

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Collaboration between the business risk and IT security teams

Take each of your business objectives and plans. Now, figure out what might result from a technology-related failure (noting that ‘technology’ extends beyond the IT function). Then, what are you going to do about it?

 

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Technology law highlights: 2017 Year in Review

Here, in no particular order, are some of the year’s highlights as chronicled by McCarthy Tétrault’s bloggers:

 

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Québec Court of Appeal confirms application of French language requirements for websites

On December 20, 2017, in 156158 Canada inc. v. Attorney General of Québec, 2017 QCCA 2055, the Québec Court of Appeal confirmed the constitutional validity of the provisions of the Québec Charter of the French Language (the CFL) that require the joint or predominant use of French in commercial advertising, packaging and publications, including websites.

 

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Three cybersecurity trends driving the Bank of Canada’s call for cybersecurity to be treated as a ‘public good’

As the level and sophistication of cyber-attacks continue to grow, there will be a mounting pressure on regulators to continue to develop coordinated, meaningful, mandatory minimum standards that are enforceable against all financial institutions and FMIs as well as their service providers.

 

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Department of Finance releases consultation paper on new retail payments oversight framework

On July 7, 2017, the Department of Finance issued the consultation paper “A New Retail Payments Oversight Framework” (the “Consultation Paper”) proposing a federal oversight framework for retail payments. Comments on the Consultation Paper are due October 6, 2017.

 

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The future of securities regulation of distributed ledger technologies

The following discussion provides a general description of blockchain and distributed ledger technologies (DLT) and the current state of the regulatory landscape in Ontario. To date, the Ontario Securities Commission has not explicitly categorized a blockchain token or coin (which are further discussed below) as an investment contract or other type of security under section […]

 

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Can marketing and compliance share a playbook?

I recently read an article in the Winter 2017 MIT Sloan Management Review, Mastering the Market Intelligence Challenge (Chari, Luce & Thukral). In this work, the authors address how “many multinationals simply import their domestic models into emerging markets.” And whilst this work is directed towards those who deal with market intelligence in emerging markets, the conclusions drawn are equally applicable to those who face compliance challenges in such frontier regions.

 

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“Not there yet”: Bank of Canada experiments with blockchain wholesale payment system

The Bank of Canada embarked on Project Jasper to learn more about the feasibility, benefits and challenges of using DLT as the basis for a wholesale interbank payment system. These systems are crucial mechanisms for the financial industry that allow large financial institutions to process payments to each other as well as to and from central banks.

 

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Canada begins NAFTA consultations

These NAFTA consultations offer a significant opportunity for companies to have input on the primary drivers of their access to Canadian, US and Mexican markets. With the EU-Canada CETA coming into force in the coming months, Canada will be in the unique position of having preferential trading and investment relationships with the world’s two largest economies.

 

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Canadian government suspends CASL private right of action

The Canadian federal government has announced that it has suspended the coming into force of the private right of action under Canada’s anti-spam legislation (CASL), originally scheduled to come into force on July 1, 2017.

 

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CASL’s soon-to-be-enacted private right of action brings risk of class proceedings

On July 1, 2017, the private right of action under Canada’s Anti-Spam Legislation (CASL) will come into force.

 

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Don’t outsmart yourself: AI and compliance

I’m a big fan of artificial intelligence. The older I get, the more I appreciate that real intelligence needs all the help it can get. Corporate ethics and compliance officers, however, need to pause before betting big on AI as a solution to all our needs.

 

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Website operator jailed for distributing copyright infringing copies of musical works: R v Evans

Is operating a website that provides links to torrent websites which facilitates unauthorized downloading of musical works a criminal offence? If so, can the operator of such sites expect jail time as punishment for this crime? In a recent decision of the English and Wales Court of Appeal, the accused, Mr Evans, was convicted of two offences of distributing infringing copies of musical works and was sentenced to 12 months in prison for these crimes.

 

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CASL’s private right of action for Competition Act reviewable conduct

While much has been written about the impending CASL private rights of action, less has been said about the new private right of action CASL will tack on to the Competition Act for misrepresentations in electronic messages.

 

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Real answers to common questions on cybersecurity

Every day there is something in the news about organizations generally of all different sizes that have been breached and have had to deal with the impact of the loss, compromise or destruction of data. Making key decision-makers aware of the general threat landscape is helpful, but more helpful is making them aware of the threat landscape specific to your organization.

 

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