In Canada, Cooperative Capital Markets Regulatory System Moves a Step Closer

In Canada, Cooperative Capital Markets Regulatory System Moves a Step Closer

Paul Fitzgerald and Tracey Kernahan have produced a client update on the announcement by the Minister of Finance that the provinces of British Columbia, Ontario, Saskatchewan and New Brunswick and the Canadian federal government have signed a memorandum of agreement formalizing the terms and conditions of a cooperative capital markets regulatory system.

CFTC to Vote On Proposed Swap Margin Rule and Final Rule On Swaps with Utility Special Entities

CFTC to Vote On Proposed Swap Margin Rule and Final Rule On Swaps with Utility Special Entities

On September 17, the Commodity Futures Trading Commission (CFTC) will hold its first open meeting under new Chairman Timothy Massad to vote on:  1) a re-proposed rule on margin requirements for uncleared swaps for swap dealers; and 2) a final rule excluding certain swaps with utility special entities from the de minimis calculation for swap dealer registration purposes.

Is Contractual Interpretation a Common Issue?

Is Contractual Interpretation a Common Issue?

Canadian courts routinely certify the interpretation of contracts as common issues in class actions. Following the Supreme Court of Canada’s recent decision in Sattva Capital Corp v Creston Moly Corp, however, this practice may come into question. Though Sattva was not a class action, it may nevertheless open the door to arguments that contractual interpretation raises individual variability and should not be certified as a common issue.