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News and discussion on implementing risk management

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Government Budget, Throne Speech and Plans

Prepare for harmonized sales tax (HST) rate changes

HST rates are set to increase in three provinces. Businesses based in, or doing business with these provinces should prepare for the changes.

 

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Provincial and territorial 2016 budget overview

Throughout the last few months a number of provinces and territories have released their Budgets for the year 2016. The following is a brief overview of each of those Budgets released to date.

 

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Federal Budget 2016 at a glance: A business perspective

On March 22, 2016, the new Liberal Government’s first federal budget, Growing the Middle Class (“Budget 2016”), was tabled. Budget 2016 focuses on growing the economy, creating jobs, and strengthening the middle class.

 

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Review panel recommends creation of new Ontario Financial Services Regulator

On November 4, 2015, a panel appointed by the Government of Ontario to review the mandate of provincial financial services regulators – the Financial Services Commission of Ontario, the Financial Services Tribunal and the Deposit Insurance Corporation of Ontario – published its preliminary position paper “Review of the Mandates of the Financial Services Commission of Ontario, Financial Services Tribunal, and the Deposit Insurance Corporation of Ontario”. The panel recommended the creation of a new provincial financial services regulatory agency (“Financial Services Regulatory Authority” to exercise both prudential and market conduct regulation, essentially replacing FSCO and DICO. Comments on the paper are due by December 14, 2015.

 

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Ontario Ministry’s expert report recommends big changes to province’s corporate laws

On July 9, 2015, an expert panel convened by the Ontario Ministry of Government and Consumer Services (MGCS) released their final report (the Expert Report) containing many broad recommendations on how to modernize Ontario’s increasingly outdated business legislation. The Expert Report dealt with laws relating to corporations, partnerships, secured lending and other commercial activities. Taken […]

 

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Key developments in economic sanctions and export controls and what to watch for in 2015

In recent years, Canada has significantly expanded its multilateral and unilateral trade control measures. Broader scope and increased enforcement in the areas of economic sanctions, export and technology transfer controls, and defence trade controls have raised the stakes for Canadians engaged in cross-border activities. Enforcement and reputational risk is higher than ever and it is critical for any Canadian company doing business abroad to ensure it has internal controls in place to mitigate the growing risk exposure.

 

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OSC proposes large financial awards for whistleblowers

The Ontario Securities Commission (OSC) is inviting comment on a proposed comprehensive whistleblowing program (Program) which would award eligible whistleblowers up to $1.5 million for reporting securities law misconduct that leads to significant enforcement or settlement orders.

 

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Cross-border price discrimination: Increased powers for the commissioner of competition

On December 9, 2014, new legislation, referred to as the Price Transparency Act, was tabled in Parliament to target “unjustified” cross-border price discrimination.

 

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Federal budget 2014: What you need to know

The Federal Minister of Finance Jim Flaherty tabled the Economic Action Plan 2014 in the House of Commons on February 11, 2014, which confirms that the Government is on track to return to balanced budgets in 2015, with new measures that will create jobs and opportunities in an uncertain global economy.

 

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