Banking, Bankruptcy & Insolvency
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November 06, 2024
4 associates join Lerners Toronto
Recent news releases from Lerners LLP announced the addition of Niloufar Sadroddini, Samantha Lawr, Chelsea McKee and Blaire Smockum as associates in the firm’s Toronto office.
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November 05, 2024
Residential mortgage delinquencies remain low, despite potential signs of risk, says CMHC
The delinquency rate on Canadian residential mortgages remains well below the pre-pandemic level despite higher interest rates, according to Canada Mortgage and Housing Corp. (CMHC).
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November 04, 2024
Fed. Ct. judges take to YouTube to address bar’s & litigants’ non-disclosure of gen-AI court filings
Knowing that at least some (if not how many) lawyers and self-represented litigants are failing to disclose their use of ChatGPT or other generative artificial intelligence (AI) tools when they create content for documents filed in Federal Court, the national trial court has taken the novel step of posting YouTube videos, titled “Compliance with the Notice on the Use of Artificial Intelligence,” featuring judges who explain how to comply with the mandatory AI-use disclosure obligations the court imposed 10 months ago.
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November 01, 2024
Blanket order published providing temporary exemptions related to derivatives data reporting
The Canadian Securities Administrators (CSA) have published co-ordinated blanket orders for exemptions from reporting certain derivative data, with every member of the CSA implementing the relief through local blanket orders.
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November 01, 2024
Consolidation of banking complaints system is not enough, says investor advocacy group
An investor advocacy group is calling on the federal government to go beyond simply consolidating Canada’s banking complaints system and give the Ombudsman for Banking Services and Investments (OBSI) binding authority.
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October 31, 2024
Rising cyber crime driven by ransomware attacks, state actors like China, says report
Canadian organizations and individuals are increasingly threatened by cybersecurity attacks, with the People’s Republic of China (PRC) representing by far the most active and sophisticated state-sponsored danger, according to a report by the Ottawa-area-based Canadian Centre for Cyber Security.
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October 29, 2024
Canada sanctions weapons & aid suppliers to Myanmar military after hundreds of civilians bombed
In coordination with the EU and the U.K., Canada has imposed sanctions under the Special Economic Measures (Burma) Regulations against three individuals and four entities for supplying weapons and military equipment to Myanmar’s military.
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October 25, 2024
Fraud is most prevalent cybercrime; most hate crimes targeted race/ethnicity
Fraud, including identity fraud and identity theft, accounted for most of the 41,162 cybercrimes reported to Canadian police in the first six months of 2024, Statistics Canada says.
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October 24, 2024
Supreme Court refuses to hear appeal over inclusion of major banks in $1B price-fixing class action
The Supreme Court has declined leave to appeal a decision by Ontario’s top court permitting the addition of Bank of America, Merrill Lynch, JP Morgan and Morgan Stanley to a $1 billion class action alleging price fixing in the global gold and silver market.
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October 23, 2024
FINTRAC warns lawyers to be alert to potential money laundering and sanctions-evasion schemes
The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) has published a special bulletin on the use of the legal profession in money laundering and sanctions evasion, warning lawyers and businesses to be alert to the characteristics of financial transactions “that may be associated with the laundering of proceeds of crime through the legal profession.”