The business judgment of directors setting executive compensation was front and centre in the Ontario Court of Appeal’s recent decision in Unique Broadband Systems, Inc. (Re), 2014 ONCA 538 (UBS). Although the decision is based on unique underlying facts, it offers several important lessons on corporate governance.
On July 21, 2014, the BC Oil and Gas Commission (OGC) enacted the Liquefied Natural Gas Facility Regulation (LNG Regulation) under the authority of the Oil and Gas Activities Act (OGAA).
The European Banking Authority (EBA) has published a report on its peer review of the credit concentration risk aspects of its guidelines on the management of concentration risk under the supervisory review process (GL 31).
On July 9, 2014, on what Finance Minister Joe Oliver called “a landmark day” for reforming Canada’s capital markets regulatory regime, the federal government announced that Saskatchewan and New Brunswick had agreed to join it, Ontario and British Columbia in the Cooperative Capital Markets Regulatory System (“CCMR”).
A very recent Supreme Court of Canada (SCC) decision, Canadian Artists’ Representation v National Gallery of Canada, considered the parameters of the duty to bargain in good faith. The Court found that a labour tribunal’s conclusions regarding bargaining in bad faith were reasonable, where a company took a “rigid stance” it knew would not be acceptable to the other side and failed to exchange information prior to bargaining.