Change On the Horizon for Aboriginal Consultation and Involvement in Mining Projects

The rapidly evolving legal landscape for Aboriginal consultation and involvement in mining and other resource development projects in Canada is likely to see a number of significant changes in 2017. In addition to three anticipated Supreme Court of Canada decisions on the duty to consult, 2017 will likely bring legislative and policy changes to the nature and extent of expected Aboriginal involvement in the assessment, permitting and monitoring of resource development projects that require federal approval. View Full Post
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TSX Issuers Asked to Review Majority Voting Policies After Spot-check Finds Flaws

Majority voting policies of Toronto Stock Exchange (TSX) listed issuers are under the spotlight following a TSX review of 200 randomly selected policies. In a Staff Notice published on March 9, 2017, the TSX pinpointed a number of issues that TSX considers are deficiencies in the reviewed policies, including: The identification of factors as “exceptional circumstances” in a manner inconsistent with TSX’s stated policy objectives of majority voting; A failure to require immediate director resignation and/or to establish a time frame within which resignation must be accepted; and The inclusion of additional language that serves to circumvent the policy objectives of majority voting. View Full Post
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Court of Appeal Upholds Mortgage Exit Fee in Face of Interest Act Challenge

Section 8 of the Interest Act, R.S.C. 1985, c. I-15, prohibits any “fine, penalty or rate of interest . . . that has the effect of increasing the charge on the arrears beyond the rate of interest payable on principal money not in arrears.” Relying on this provision, borrowers often challenge fees and charges that borrowers levy when seeking to enforce a secured debt that has gone into arrears. View Full Post
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Canadian Securities Administrators Publish Report and Guidelines On Social Media Use by Reporting Issuers

By David E. Woollcombe and Claire Gowdy David E. WoollcombeClaire Gowdy We recently wrote an article for The Canadian Securities Regulatory Monitor, McCarthy Tétrault’s blog covering securities regulatory developments, that we believe is of interest to readers of this blog. The article looks at a new report by the Canadian Securities Administrators around social media use by reporting issuers and provides guidance for public companies in this area. View Full Post
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No Jury Trial for Securities Offences: Economic Penalties Are Not a “More Severe Punishment” Under Section 11(f) of the Charter

By Timothy Froese Timothy Froese Is a $5 million fine a less severe punishment than a night in jail?  Are hefty financial penalties for quasi-criminal or regulatory offences able to trigger the procedural protections of the Canadian Charter of Rights and Freedoms when combined with the threat of imprisonment? View Full Post
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