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News and discussion on implementing risk management

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Fraud and Corruption

Alberta moves to strengthen its lobbying law: Proposed legislation would be among the strictest in country

If amendments to the Lobbyists Act, introduced on April 11 by the Government of Alberta, are passed by the Legislature, the Lobbyists Amendment Act, 2018, would make Alberta one of the strictest regulators of lobbying in the country.

 

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10 top ways to be a wildly effective compliance officer

Competition law

To be wildly effective, compliance officers should have a positive working relationship with the other functions in the business, especially Legal, Audit and Human Resources.

 

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A glimmer of hope for Ontario whistleblowers?

Recently enacted changes to Ontario’s Securities Act and the Commodity Futures Act regarding whistleblower retaliation now allow whistleblowers who have suffered retaliation to file a civil claim in the Superior Court of Justice or to seek redress through arbitration.

 

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Supreme Court rules on whistleblower protection case: Don’t lose focus on what really drives external reporting

What should organizations be doing to create an environment where employees are confident in their ability to raise issues internally?

 

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Canadian government publishes consultation paper proposing wide-ranging amendments to anti-money laundering legislation

Amendments might be coming to anti-money laundering legislation. The Canadian government recently published a consultation paper with proposals for wide-ranging amendments. On February 7, 2018, the Canadian federal government released a consultation paper for comments that has far-reaching implications for compliance with Canadian anti-money laundering requirements. The comment period on this paper ends on April […]

 

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Ontario ban on door-to-door sales in effect as of March 1st

Door-to-door sales contracts have been among the top complaints received by the Ministry of Government and Consumer Services. Starting March 1, 2018, Ontario has banned unsolicited, door-to-door sales of certain household appliances to better protect consumers from aggressive and misleading contracting at home. This will bring about some changes for some companies business model and marketing strategies.

 

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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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Whistleblower protection: Employers need to create a speak-up environment

It is incumbent on Canadian employers to take whatever steps they can to implement systems that would allow whistleblowers to step forward without fear, and speak-up without punishment.

 

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Compliance incentive: Canada to appoint a Canadian Ombudsman for Responsible Enterprise

On January 17, 2018, the Government of Canada furthered its “progressive trade agenda” and responded to calls from human rights groups by announcing that it is going to watch the activities of Canadian businesses operating in overseas markets more seriously. The Government of Canada will create an Office of the Canadian Ombudsman for Responsible Enterprise […]

 

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Phishing losses exceed $224,000.00 after insurer denies coverage

In August 2010, someone called The Brick’s accounts payable (AP) department, pretending to be from Toshiba Canada. The caller said he was new to Toshiba and needed some payment details. The Brick employee faxed the payment information to the number which the caller provided.

 

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Canadian Anti-Money Laundering Law: What you need to know about compliance program requirements

The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) is Canada’s financial intelligence unit. Among other things, it is responsible for the enforcement of Canadian AML Law. In December 2017, FINTRAC released a revised guidance document relating to the compliance program requirements.

 

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Key developments in Canada’s economic sanctions and export controls during 2017 & what to expect in 2018

This article begins with a summary of parliamentary recommendations to improve Canada’s sanctions regime, and then launches into reforms that have already taken shape, such as the creation of a publicly-accessible sanctions database and the adoption of a new Magnitsky Law. Second, it discusses recent updates to Canada’s export controls and economic sanctions laws. Third, we explore Canada’s preparations to join the Arms Trade Treaty with Bill C-47, including expected developments in 2018.

 

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Facilitation payments now illegal under Canada’s foreign corruption law

On October 31, 2017, the federal government brought into force a pending amendment to the Corruption of Foreign Public Officials Act likely to have a significant impact on many Canadian firms operating abroad. Starting on October 31, so-called “facilitation payments” – payments to low-level government officials to expedite or secure the performance of an act of a routine nature – will be illegal.

 

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Canada publishes a somewhat consolidated economic sanctions list

On October 13, 2017, Global Affairs Canada published the country’s first consolidated list of blacklisted individuals and entities under the Special Economic Measures Act (“SEMA”), known as the “Consolidated SEMA Sanctions List”. The Consolidated SEMA Sanctions List is intended to provide a single accessible website for members of the public to search for individuals and entities listed under SEMA sanctions regulations.

 

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Bill 141 – Proposed amendments to the Act respecting the Autorité des marchés financiers with regard to whistleblowing

Following the example of the Ontario Securities Commission, the Authority implemented a whistleblower program in June 2016. Contrary to Ontario, Quebec’s program does not give financial awards to whistleblowers, but it does guarantee a framework that ensures confidentiality and protects whistleblowers against reprisals. However, no legislative amendment guaranteeing these protections has been introduced until now.

 

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