Osler Updates

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TSX Proposes to Expand Exemptions for Interlisted Issuers and to Introduce Shareholder Approval Requirement for Certain Delistings

On January 22, 2015, the TSX published proposals that would allow eligible interlisted issuers to apply to follow the rules of other stock exchanges or jurisdictions, instead of those of the TSX, for an expanded variety of transactions and for corporate governance compliance purposes. As well, the TSX published proposals that would generally require issuers without an alternative market or pending liquidity event to obtain shareholder approval in order to voluntarily delist from the TSX.

Jan 26, 2015

Antitrust Advisory: Implications of the Federal Debarment Policy for Government-Contracting Entities

For entities that contract with the federal government, non-compliance with the Competition Act can result in severe and far-reaching consequences under the government’s Debarment Policy. In this Antitrust Advisory, we highlight the scope and implications of the Debarment Policy, and how you can steer clear of being debarred. 

Jan 26, 2015

Worker Fatality Leads to Fine and Jail Sentences

An Ontario company was recently fined $250,000 and two of its directors were each ordered to serve 25 days in jail as a result of a workplace fatality. 

Jan 22, 2015

Derivatives Trade Reporting Rules Proposed for Five More Provinces

Securities regulators in the provinces of Alberta, British Columbia, New Brunswick, Nova Scotia and Saskatchewan (collectively, the Participating Jurisdictions) have published for comment Proposed Multilateral Instrument 91-101 Derivatives: Product Determination (91-101), Proposed Multilateral Instrument 96-101 Trade Repositories and Derivatives Data Reporting (96-101) and related companion policies (collectively, the Proposed Reporting Rules). 

Jan 22, 2015

Canadian Anti-Money Laundering Laws – Some Traps for the Unwary

Canada has had legislation in place to detect and deter money laundering since 1991.  Contrary to what some may expect, the legislation (which has been amended several times over the last 24 years or so) applies (rightly) only to “reporting entities” and not all business entities or transactions. 

Jan 16, 2015

Antitrust Advisory: Fundamentals of the Competition Bureau’s Immunity & Leniency Programs

The Competition Bureau’s Immunity and Leniency Programs have proven effective in detecting criminal cartel activity in Canada. In this Antitrust Advisory, we explore the fundamentals of these initiatives, helping you navigate the incentives – and complexities – of program participation. 

Jan 15, 2015

Competition Criminal Enforcement in Canada: 2014 Year in Review

Competition regulators pursued another aggressive year of criminal enforcement in Canada. While the Commissioner of Competition did not announce any new large-scale investigations in conjunction with international regulators, the Criminal Matters Branch of the Competition Bureau continued to aggressively prosecute a number of active cases, particularly in the auto-parts and infrastructure sectors.

Jan 9, 2015

Federal Court Confirms Limitations on Consultation during Legislative Process

This Update examines the recent Federal Court decision in Courtoreille v. Canada where Chief Steve Courtoreille, on behalf of himself and the members of the Mikisew Cree First Nation, sought a declaration that the federal government has a duty to consult regarding the development and introduction of legislation that has the potential to affect Mikisew’s treaty rights. The decision confirmed that the Crown’s duty to consult during the legislative process is limited to providing notice to the Mikisew of the proposed legislation’s potential impacts to the Mikisew’s treaty rights.  

Jan 5, 2015

NYSE: Corporate Governance Guide – Canada

First published in the NYSE: Corporate Governance Guide, this article covers a number of topical issues in corporate governance in Canada today, including majority voting and individual voting for directors, say-on-pay, proxy rules, advance notice provisions and new disclosure rules respecting the representation of women on boards and director tenure. 

December 2014

Federal Government Introduces New Legislation to Enhance Pipeline Safety

In response to demands from the provincial governments and the public for increased National Energy Board powers to ensure the environmental safety of Canada’s pipeline infrastructure, the federal government has introduced the Pipeline Safety Act (Bill C-46). The proposed Bill C-46 measures are designed to strengthen the incident prevention, preparedness and response, and liability and compensation mechanisms in place for major pipeline projects in Canada. 

Dec. 18, 2014