Banking, Bankruptcy & Insolvency
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November 26, 2024
Alberta Court of Appeal lifts stay on fraud claims against three discharged bankrupts
The Alberta Court of Appeal has lifted a stay of proceedings in relation to fraudulent misrepresentation claims against three discharged bankrupts, finding that the claims may go forward under exceptions in the Bankruptcy and Insolvency Act (BIA).
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November 26, 2024
Anti-money laundering fines reached record level in past year, says FINTRAC annual report
Fines issued against Canadian financial institutions, businesses and individuals for violating anti-money laundering laws and regulations reached a record $26.1 million during the 2023-24 fiscal year, according to Canada’s anti-money laundering watchdog.
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November 26, 2024
Regulators to review high-pressure mutual fund sales practices at Canadian banks
Financial regulators are set to investigate allegations that certain banks are using high-pressure practices to boost mutual fund sales.
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November 26, 2024
Competition Bureau obtains court order as part of probe into fintech giant Broadridge
The Competition Bureau has obtained a Federal Court order to access corporate information as part of an investigation into Markham, Ont.-based financial technology firm Broadridge Software Ltd.
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November 26, 2024
Law360 Canada Pulse survey: stress remains significant issue for lawyers
A recent survey of the legal profession is showing high levels of satisfaction with things like collegiality and collaboration at their firms and opportunities for advancement, but there is one issue that continues to remain a problem and has no easy fix — stress.
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November 25, 2024
Law360 Canada Pulse survey: majority of lawyers say they are satisfied with their jobs
A recent survey of lawyers is indicating overall satisfaction with many aspects of the profession, despite some lingering concerns about things like stress and compensation.
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November 22, 2024
Securities regulators propose amendments to increase system fees over 5 years
The Canadian Securities Administrators (CSA) have published proposed amendments to Multilateral Instrument 13-102 System Fees for comment, with the intention to “better align system fee revenues with projected national systems operating costs.”
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November 21, 2024
Federal government announces 2-month GST ‘holiday’ and new rebate for workers
The federal government has announced new measures to give Canadians “more money in their pocket” through new GST/HST exemptions applicable across the country and a new rebate for working Canadians.
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November 21, 2024
OSFI quarterly release confirms change to mortgage stress test, offers risk-management updates
Canada’s federal banking regulator has issued a series of regulatory notes and guidelines on risk management, mortgage standards and reduced regulations as part of its quarterly release pilot.
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November 20, 2024
OSC announces shift of some registration functions to CIRO, strategic priorities for 2025-26
The Ontario Securities Commission (OSC) has announced plans to shift some registration functions to the Canadian Investment Regulatory Organization (CIRO), and other provincial and territorial securities regulators may follow.