Banking, Bankruptcy & Insolvency
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December 13, 2024
Feds to remove 30% Canadian pension fund investment cap, boost R&D in Fall Economic Statement
In a bid to boost domestic investment by Canadian pension funds, the federal government is set to remove a cap that restricts pension funds from owning more than 30 per cent of the voting shares of a Canadian entity, according to a release.
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December 13, 2024
Nova Scotia education minister moves to justice file
Nova Scotia has a new justice minister. Lawyer and former education minister Becky Druhan has been given the job of justice minister and attorney general following the Progressive Conservatives’ recent re-election as a majority government.
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December 12, 2024
Court approves $70.25M settlement of TD Asset Management trailing commissions class action
The Ontario Superior Court has approved a $70.25 million settlement in a class action against TD Asset Management Inc. (TDAM) over allegations that it paid unearned or excessive trailing commissions to discount brokers out of mutual fund assets.
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December 11, 2024
FINTRAC imposes $2M penalty on Exchange Bank of Canada
The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) has imposed an administrative penalty of more than $2 million on Exchange Bank of Canada for non-compliance with Part 1 of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act and its associated Regulations.
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December 11, 2024
Deemed trust amendment shields fresh produce sellers, helps exporters, says industry
Canada's $13 billion fresh produce industry is welcoming an amendment to federal insolvency laws establishing a deemed trust financial protection mechanism for fresh produce sellers.
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December 11, 2024
OSC review finds some crypto asset trading platforms mishandled client accounts
An Ontario Securities Commission (OSC) compliance review is raising red flags over the way some crypto asset trading platforms (CTPs) handle client accounts.
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December 11, 2024
OSC announces new online dashboard for data on exempt market capital raising
The Ontario Securities Commission has announced the launch of an online dashboard that provides data on capital-raising activity by Canadian corporate (non-investment fund) issuers in the province's increasingly important exempt market.
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December 10, 2024
Canada sanctions Russian and Chinese officials, citing human rights violations
The federal government has announced additional sanctions against nine Russian officials and eight Chinese officials allegedly involved in human rights violations.
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December 10, 2024
Feds doubling loan limit to build secondary suites in homes, increasing 30-year amortizations
The federal government has announced that it will double the loan limit under the Canada Secondary Suite Loan Program to $80,000, launching the program in early 2025. This was said to “make it easier for homeowners to convert an unused basement into a rental apartment or a garage into a laneway home” to increase density in communities.
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December 06, 2024
No Charter breach when police warrantlessly searched text messages in ‘exigent circumstances’: SCC
The Supreme Court of Canada has dismissed 6-3 an Ontario man’s appeal of his drug trafficking convictions, holding that his Charter rights were not breached because “exigent circumstances” justified police, without a warrant, using a cellphone they seized from a drug dealer to impersonate that dealer and continue his texting with the accused to arrange what police suspected to be a purchase of fentanyl-laced heroin.