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Inside Internal Controls

News and discussion on implementing risk management

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Protecting trade secrets when employees depart

Several recent court cases in the United States focus on the misappropriation of trade secrets by employees departing technology companies. These high profile American cases are a reminder that Canadian companies face the same issues.

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Linking risk management to results

The value that is created by an effective risk management is the confidence of the board and decision-makers in the information they use to make decisions.

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Overtime and Oxford Commas: The $10M punctuation mark

Drafting any kind of contract requires a careful consideration of both wording and punctuation. Unions should ensure that their collective agreements are unambiguous and watertight.

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Don’t encourage employees to speak up if you’re not ready to listen

Competition law

Take a moment to think through your incident intake process. Is there a light at the end of the tunnel for employee reporters? Can they tell that you’re listening and responding? If not, it’s time to show employees that you’re as invested in a listen-up culture as you are in creating a speak-up culture.

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OSFI issues advisory on use of words “bank”, “banker”, “banking”

On June 30, 2017, the Office of the Superintendent of Financial Institutions (“OSFI”) issued Advisory 2017-01 (the “Advisory”) providing additional guidance on its interpretation of the limitations in the Bank Act (Canada) (the “Bank Act”) on the uses of the words “bank”, “banker” and “banking” and related exceptions.

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Government of Canada publishes proposed Breach of Security Safeguards Regulations

On September 2, 2017, the Government of Canada published proposed Breach of Security Safeguards Regulations. The proposed regulations relate to the provisions in Canada’s Personal Information Protection and Electronic Documents Act (“PIPEDA”), which are not yet in force.

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Six principles for effective risk management

In World-Class Risk Management, I review the eleven principles in the ISO 31000:2009 global risk management standard and condense them to just six.

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Investigator plus lawyer = privilege?

There may be times when it makes sense to try and establish a solicitor-client relationship with an external investigator, and these tips will help you do this effectively. However, in other cases where this is not what you require, recognize that the process your investigator follows may be open to scrutiny.

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Survival of the fittest: How can technology help small businesses thrive?

Canada’s failure rate for small and medium sized businesses is staggeringly high. Around one half of small and medium sized businesses survive past five years, while 15% don’t last a year. Today’s smaller businesses face a daunting task. The complexities of today’s market have created new risks, and myriad laws and regulations that can overwhelm just about any sized business.

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Update from the Canadian Securities Administrators on its Regulatory Sandbox for Fintechs

The week of June 26, the Canadian Securities Administrators (CSA) published some additional information on its CSA Regulatory Sandbox. The CSA Regulatory Sandbox, which was first launched on February 23, 2017, is an initiative of the CSA, designed to support Fintech businesses seeking to offer innovative products, services and applications in Canada.

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Canada’s anti-spam law is hurting MSPs

The Canadian Government wants to cut down on the number of spam people receive. This is a good thing, right? However, the way they’ve gone about doing this is hurting businesses.

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PwC confuses boards on risk oversight

The report from PwC has a useful discussion about whether the organization’s disclosures about risk are complete and sufficient to satisfy investors.

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Update on recoverable disbursements: The recoverability of after the event or ATE insurance premiums

Whether you win or lose, litigation can be an expensive endeavour. While some of those costs may ultimately be recovered from the other party in the course of the litigation, recent case law suggests that the premiums paid for After The Event (“ATE”) insurance (also known as adverse costs protection insurance) are unrecoverable.

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Processes to support information technology effectiveness reviews

This blog post reminds organizations that they should take the time to conduct information technology effectiveness reviews, to evaluate and improve the IT department’s role in achieving the organization’s goals.

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Internal technology transfer gone wrong: Composite Technologies Inc. v. Shawcor Ltd., 2017 ABCA 160

Intellectual property is transferrable. And you should be careful with how you transfer your IP among your corporate family, especially if it constitutes the principal value in your business – and in your life’s work!

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