Banking, Bankruptcy & Insolvency
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February 26, 2025
Nova Scotia tables legislation opening ‘free trade’ with other provinces, territories
With the Trump tariffs looming, Nova Scotia has introduced pioneering legislation that would create “free trade” with participating provinces and territories. On Feb. 25, Nova Scotia’s government introduced the Free Trade and Mobility within Canada Act — a “first of its kind in the country” that “will help foster an environment of mutual recognition of goods, services and labour mobility across all sectors,” states a news release.
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February 26, 2025
SCC halts use of its ‘X’ account ‘for now,’ citing ‘strategic priorities and resource allocation’
In a move that has sparked controversy in Canada and beyond, the Supreme Court of Canada tells Law360 Canada that “for now” it will no longer use its official account on X, the social media platform owned by Elon Musk, a high-profile billionaire associate of U.S. President Donald Trump.
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February 26, 2025
Women & 2SLGBTQI+ applicants came out ahead as ‘highly recommended’ for federal benches in 2023-2024
Asserting his new administration is “ending illegal discrimination and restoring merit-based opportunity,” U.S. President Donald Trump recently issued controversial executive orders banning diversity, equity and inclusion policies and hiring at the federal level in America. But in Canada, the most recent demographic statistics on federal judicial appointments and the professional competence and character assessments made by the Trudeau government’s non-partisan judicial advisory committees (JACs) indicate that diversity has gone hand in hand with “merit.”
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February 21, 2025
Canada opens door to more people impacted by Sudan’s civil conflict
Canada will resettle more refugees affected by the internal conflict in Sudan over the next two years and increase the spaces available under the family-based permanent residence pathway, the minority Liberal government says.
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February 21, 2025
Feds kick off information-sharing ‘partnership’ between RCMP, big banks aimed at money laundering
Ottawa has launched an initiative this week that the federal government says will “support the permissible sharing of money laundering and organized crime intelligence between law enforcement and Canada’s big banks.”
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February 21, 2025
Seven criminal organizations listed as ‘terrorist entities’ subject to dealings, immigration bans
Canada has listed seven “transnational criminal organizations,” including street gangs and several major Mexican cartels that traffic in fentanyl, as “terrorist entities” under the Criminal Code — triggering immigration and dealings bans in Canada as well as expanding the tools law enforcement authorities have to trace and seize proceeds of crime, the federal government says.
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February 20, 2025
PBO report finds guaranteed basic income program could reduce poverty by 40 per cent
The Office of the Parliamentary Budget Officer (PBO) has released a report on a guaranteed basic income (GBI) for Canadians, concluding that the measure could reduce the country's household poverty rate by 40 per cent if implemented.
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February 18, 2025
Securities regulators launch ‘collaboratory’ to explore investment data portability
Securities regulators in British Columbia, Alberta, Saskatchewan, Manitoba, New Brunswick and Nova Scotia are calling on industry stakeholders to join discussions and test innovative tools and strategies aimed at enhancing the portability of client data within the investment market.
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February 18, 2025
StatCan releases report on CEBA borrowing, repayments and bankruptcy data
Statistics Canada has released a new report on the federal government's COVID-related Canada Emergency Business Account (CEBA) that it says could provide insight “into how the use of emergency funding programs may have influenced short and medium-term business survival rates.”
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February 14, 2025
Feds launch 2025 pre-budget consultations amid tariff uncertainty
The federal government has launched pre-budget consultations amid the looming threat of the U.S. potentially imposing tariffs on Canadian imports.