Osler Updates

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British Columbia’s Supreme Court Considers the Duty to Consult in the Context of an Environmental Review Process

On April 3, 2014 the British Columbia Supreme Court released its decision in Ktunaxa Nation v. British Columbia (Forests, Lands and Natural Resource Operations), 2014 BCSC 568. The case concerned an application for judicial review of a Master Development Agreement entered into between the project proponent, Glacier Resorts Ltd., and the B.C. Minister of Forests Lands and Natural Resource Operations in respect of a ski resort located near Invermere, British Columbia.

Apr 21, 2014

Québec Court’s Decision on Insider Tipping Restrictions

On April 7, 2014, the Bureau de décision et de révision (BDR), which is the administrative tribunal that has jurisdiction under the Québec Securities Act, dismissed a claim by the Autorité des marchés financiers (AMF) for an administrative penalty of $15,000 against Jean Lamarre, a member of the board of directors of Pebercan Inc. at the time of the events at issue.

Apr 21, 2014

Canadian Government Steps Up Enforcement of Economic Sanctions

For the first time in over 20 years since the enactment of the Special Economic Measures Act, an Alberta-based company was charged with violating this statute by attempting to export controlled goods valued at $15 to the Islamic Republic of Iran. The company pleaded guilty, and the plea agreement entered in court on April 14, 2014, required that Lee Specialties Ltd. pay a fine of $90,000.

Apr 17, 2014

Top Six Frequently Asked Questions About the AODA for Franchisors and Franchisees

The Accessibility Directorate of Ontario has been increasingly active in pursuing enforcement actions against organizations that have not complied with their requirements under the Accessibility for Ontarians with Disabilities Act (AODA). How do these AODA requirements affect franchisors and franchisees? We have compiled our top six frequently asked questions and answers about the AODA. 

Apr 15, 2014

Competition Bureau Releases Draft Updated Intellectual Property Enforcement Guidelines

On April 2, 2014, the Competition Bureau released draft updated Intellectual Property Enforcement Guidelines for a 60-day consultation period. The Revised IPEGs principally reflect the amendments to the Competition Act that have been made since the IPEGs were released in 2000. 

Apr 14, 2014

An Overview of Corporate Governance in Canada from The Corporate Governance Review: Canada

The full article contains sections on recent developments, corporate leadership, disclosure requirements, corporate responsibility and shareholder rights, powers and activism. 

April 2014

The Superior Court of Québec Sides with Retailers on the Use of Recognized Trade-Marks in Public Signs and Commercial Advertising

In reasons released on April 9, 2014, Justice Yergeau of the Superior Court of Québec held that the Québec Charter of the French Language (Charter) does not require that public signs and commercial advertising containing a non-French trade-mark be accompanied by a generic term in French, contrary to what was recently being asserted by the Office québécois de la langue française (OQLF), the regulator charged with enforcement of the Charter

Apr 11, 2014

Canadian Securities Regulators Delay Implementation of Derivatives Trade Reporting

Canadian securities regulators announced today that trade reporting requirements for over-the-counter (OTC) derivatives transactions that involve “local counterparties” in the provinces of Ontario, Québec and Manitoba will now commence on October 31, 2014. This new date will apply to trades to be reported by derivatives dealers and clearing agencies; reporting for such trades had been scheduled to commence on July 2, 2014. Other trade reporting deadlines will also shift as a result of today’s announcement.

April 10, 2014

Ontario Court Comments on Common Forms of Fairness Opinions in Arrangement Transactions

The Ontario Superior Court of Justice (Commercial List) recently made some noteworthy observations about the evidentiary utility of fairness opinions in the context of arrangements. The decision may have implications for the disclosure of investment bankers’ fees and financial analysis underlying the fairness opinion. 

April 7, 2014

CSA Releases Crowdfunding Proposals for Comment

On March 20, 2014, the Canadian Securities Administrators published a notice announcing the release for comment of two proposed equity crowdfunding prospectus exemptions. Some provincial securities administrators released for comment the proposed Multilateral Instrument 45-108 respecting Crowdfunding with accompanying policy statement; others released for comment a proposed Blanket Order respecting Start-Up Crowdfunding Prospectus and Registration Exemption.

Apr 4, 2014