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News and discussion on implementing risk management

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New COSO ERM Guidance for ESG

It is essential to provide leaders with actionable information. Simply rating a risk as high or valuing it at $250,000 is meaningless. Leaders need to be able to make decisions between addressing one risk vs another, and going forward with a project given all the uncertainties related to its success. For that they need clear, detailed information, not a simple risk rating.

 

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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.

 

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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.

 

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What is your consolidated risk exposure?

This article discusses consolidated risk exposure and different risk management tools.

 

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Peace of mind may not be priceless: Québec Court of Appeal authorizes extended warranty class action claiming exploitation of the consumer

In this case, by selling extended warranties to consumers on the premise that such warranties allow consumers to avoid having to pay repair costs once the manufacturer’s warranty expires, the proposed class actions alleged that retailers were misleading consumers because under the CPA they would probably still be covered by the legal warranty.

 

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European commission releases proposal to regulate crowdfunding

Crowdfunding Service Providers (CSPs) can provide businesses and individuals with a digital platform to reach out to potential investors for funding. Presently, some EU countries have their own national legislation on crowdfunding while others require CSPs to be licensed and operate under EU frameworks.

 

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B.C. considers benefit corporations

British Columbia may become the first province in Canada to pass legislation that provides for the creation of “benefit corporations.” Benefit corporations are different from the typical for-profit business corporation in that they must be mandated to conduct business for the purpose of creating a general public benefit. It will be interesting to see where the benefit company model will go in B.C. The benefit company is somewhat similar to the existing B.C. C3, which is a hybrid corporate structure featuring both for-profit and a non-profit components.

 

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

The Quebec Court of Appeal reaffirmed the jurisprudence as to the constitutional validity of provisions requiring the joint or predominant use of French in Québec in respect of commercial advertising, packaging and publications, including websites.

 

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BCCA rules overdraft fees exceeding $5 constituted “interest” under Criminal Code

Can a financial institution’s “overdraft charges” be considered criminal “interest”? In this case, the judge declared that the overdraft fees constituted “interest” under the Criminal Code, but the credit unions appealed.

 

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New International Mobility Program options under Canada-EU Comprehensive Economic and Trade Agreement

The Comprehensive Economic and Trade Agreement (“CETA”) is a new agreement between Canada and the European Union (“EU”), which is now in force. Chapter 10 of CETA removes the requirement for a Labour Market Impact Assessment for three categories of EU foreign nationals entering Canada for business purposes.

 

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The board and enterprise culture

This article looks at the Board’s involvement in managing enterprise culture. In the corporate context, culture is a system of values, beliefs and behaviors that shape how things get done within the organization.

 

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Cannabis advertising in Canada: What we know right now

With the legalization of recreational cannabis approaching, regulations are being set to control the advertising and promotion of the product. Health Canada has indicated that it will not be pre-publishing the regulations for consultation. At this time, it does not appear that the proposed regulations will supplement the advertising provisions of the Cannabis Act, except in relation to packaging and labelling.

 

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$100,000 paid for alleged violations involving text messages under CASL

The case discussed is the latest in a series of enforcement related activity under CASL – see e.g. New CASL Ruling: CRTC Provides Guidance on B2B Messaging and the Due Diligence Defence – and serves as an important reminder that CASL applies to all commercial electronic messages, which clearly includes email, but also text messages.

 

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Supreme Court confirms in R. v. Comeau that provinces can restrict interprovincial trade in beer and other goods

On October 6, 2012, New Brunswick resident Gerard Comeau was stopped by the RCMP at the Quebec/New Brunswick border with 354 bottles or cans of beer and two bottles of whiskey. Mr. Comeau stood accused, under section 134(b) of the Liquor Control Act (New Brunswick), of having in his possession an excessive amount of liquor not purchased from the New Brunswick Liquor Corporation (the “Corporation”). Mr. Comeau challenged the constitutionality of this statutory provision by invoking section 121 of the Constitution Act, 1867.

 

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Learning the basics on GDPR’s right to be forgotten

To manage the Europe Union’s new GDPR properly, ethics and compliance officers need to consider many parts within their organization, from IT capabilities, exception clauses, and customer service demands. And these parts must be managed and organized in such a way that they work together so that they do not fall apart.

 

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