Osler Updates

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Frequently Asked Questions Concerning the Investment Canada Act

The following are some frequently asked questions (FAQs) concerning the application, administration and enforcement of the Investment Canada Act. These FAQs and responses are of a general nature, and cannot be regarded as legal advice. 

April 24, 2015

Federal Budget Proposes Statutory Privilege for Canadian Intellectual Property Agents

As part of the federal budget tabled on April 21, 2015, the Canadian government announced plans to modernize Canada’s intellectual property framework by creating a statutory privilege for confidential communications between intellectual property agents and their clients.  

Apr 23, 2015

SCC Confirms Leave Test for Securities Class Actions Has Teeth

On April 17, 2015, the Supreme Court of Canada provided Canadian public companies with an important win, holding that the test for leave to start a class action for breach of a company’s secondary market disclosure requires the court to evaluate the evidence and conclude that there is a reasonable and realistic chance that the action will succeed.

Apr 23, 2015

Budget Briefing 2015

The Honourable Joe Oliver, Minister of Finance, tabled Canada’s federal budget for 2015 on April 21, 2015. In his budget speech, the Minister repeated the government’s commitment to maintaining low taxes, balancing the budget and returning Canada to a position of fiscal strength after the 2008-2009 recession. Our Budget Briefing 2015 summarizes the more significant tax proposals included in this year’s budget. 

Apr 21, 2015

Ontario Court of Appeal Decides Ostrander Wind Farm Project and Sends Dispute Back to the ERT

In an important decision for stakeholders in the Ontario renewable energy industry, the Ontario Court of Appeal overturned the Divisional Court of Ontario’s February 2014 decision, which had reinstated a Renewable Energy Approval previously revoked by the Environmental Review Tribunal.

Apr 21, 2015

Administrative Penalty for Insider Trading – Criteria to Set the Penalty

In this Osler Update, we examine the recent insider trading decision made by the Bureau de décision et de révision in AMF v. Roy, which saw the Autorité des marchés financiers accuse Mrs. Renée Roy of having traded in the securities of a reporting issuer while she was in possession of privileged information. On March 27, the Bureau condemned Mrs. Roy to a $60,000 administrative penalty. 

Apr 20, 2015

Québec Court of Appeal Upholds Finding of Franchisor’s Obligation to Maintain Brand Strength

In a highly anticipated decision released on April 15, 2015, the Québec Court of Appeal upheld the controversial decision of Justice Tingley of the Québec Superior Court that the Dunkin’ Donuts franchisor in Québec breached its franchise agreements with its Québec franchisees by failing to adequately support them in the face of the “Tim Hortons phenomenon” in that province. 

Apr 17, 2015

New CSA Amendments Streamline Disclosure for Venture Issuers

On April 9, 2015, the Canadian Securities Administrators published amendments intended to streamline the continuous disclosure requirements for venture issuers by improving the quality of the information and reducing the burden of preparation. This Update outlines the key amendments, which come into force on June 30, 2015. 

Apr 15, 2015

The New Normal of Carbon Pricing: Ontario to Unveil a Cap-and-Trade System in an Effort to Reduce Greenhouse Gas Emissions

On April 13, 2015, the Ontario Government announced that Ontario will unveil a cap-and-trade system linked to other jurisdictions including Québec and California. This system will set greenhouse gas emissions limits on a sector-by-sector basis and will allow businesses to sell unused portions of their greenhouse gas quotas. The details of the program remain unannounced, but businesses in Ontario have been given notice by the government that carbon pricing in Ontario will be the new normal. 

Apr 14, 2015

Updated Code of Conduct for the Credit and Debit Card Industry

The long-awaited update to the Code of Conduct for the Credit and Debit Card Industry was released earlier today by the federal government. The updated Code will have implications for all participants in the credit and debit card industry – payment networks, card issuers, acquirers and merchants. This Update highlights the purpose of the updated Code and summarizes the new requirements for market participants. 

Apr 13, 2015