Banking, Bankruptcy & Insolvency
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November 22, 2024
Securities regulators propose amendments to increase system fees over 5 years
The Canadian Securities Administrators (CSA) have published proposed amendments to Multilateral Instrument 13-102 System Fees for comment, with the intention to “better align system fee revenues with projected national systems operating costs.”
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November 21, 2024
Federal government announces 2-month GST ‘holiday’ and new rebate for workers
The federal government has announced new measures to give Canadians “more money in their pocket” through new GST/HST exemptions applicable across the country and a new rebate for working Canadians.
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November 21, 2024
OSFI quarterly release confirms change to mortgage stress test, offers risk-management updates
Canada’s federal banking regulator has issued a series of regulatory notes and guidelines on risk management, mortgage standards and reduced regulations as part of its quarterly release pilot.
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November 20, 2024
OSC announces shift of some registration functions to CIRO, strategic priorities for 2025-26
The Ontario Securities Commission (OSC) has announced plans to shift some registration functions to the Canadian Investment Regulatory Organization (CIRO), and other provincial and territorial securities regulators may follow.
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November 19, 2024
CSA seeks more comment on proposed electronic access to disclosure documents via SEDAR+
The Canadian Securities Administrators (CSA) is seeking feedback on a proposal to allow investors to electronically access annual financial statements, interim financial reports and related management discussion and analysis of corporate issuers.
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November 19, 2024
Feds announce consultations on housing financialization, ending GST on new student residences
The federal government has launched consultations on “confronting the financialization of housing” and on removing GST on the construction of new student residences to incentivize the building of more student housing and ease rental housing pressures for students.
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November 18, 2024
FINTRAC advisory underlines G7 warnings about North Korea, Iran and Myanmar
Canada’s anti-money laundering watchdog is echoing warnings from the Group of Seven (G7) advanced economies cautioning financial institutions to be wary of all transactions emanating from North Korea, Iran, Myanmar and several other jurisdictions.
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November 15, 2024
Aeroplan, TD Bank, CIBC face proposed class action over clawed-back credit card bonus points
Aeroplan, Toronto Dominion Bank (TD Bank) and the Canadian Imperial Bank of Commerce (CIBC) are facing a proposed class action over allegations they clawed back welcome bonus points from Aeroplan account holders who were given the points after they signed up for a second Aeroplan credit card.
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November 12, 2024
New judicial appointments announced in British Columbia
Minister of Justice and Attorney General of Canada Arif Virani announced the appointment of Geoffrey B. Gomery as a justice of appeal of the Court of Appeal for British Columbia and Elin Sigurdson as a judge of the Supreme Court of British Columbia, a Nov. 12 news release announced.
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November 11, 2024
Ontario court grants Sandvine stay under CCAA amid restructuring efforts
Sandvine Corp., once a Waterloo Region tech sector success story, has been granted a stay of proceedings under the Companies’ Creditors Arrangement Act (CCAA) to allow stabilization of its operations and to preserve its value while it undergoes restructuring.