On November 4, 2014, Bill 18, the Stronger Workplaces for a Stronger Economy Act, 2014 (“Bill 18”) was reported back to the Legislature as amended by the Standing Committee on General Government, and has been ordered for Third Reading. Among other things, the Committee’s amendments will accelerate the coming into force of key amendments, including the following…
Author: Hicks Morley
Amendments to Federal Health and Safety Regime in Force October 31, 2014
Important amendments to the health and safety regime in Part II of the Canada Labour Code (the “Code“), contained in the Economic Action Plan 2013 Act No. 2 (the “Act“), come into force on October 31, 2014. Among other things, the Act will amend the definition of danger which is central to the right of…
FSCO Consultation on Proposed Investment Guidance Note (Prudent Investment Practices for Derivatives)
On October 24, 2014, the Financial Services Commission of Ontario (“FSCO”) published a new proposed Investment Guidance Note in respect of Prudent Investment Practices for Derivatives (“Derivatives Guidance Note”). Once finalized, the Derivatives Guidance Note will provide plan administrators detailed guidance with respect to prudent investment practices related to derivatives. The Derivatives Guidance Note sets out…
Federal Government Proposes Amendments to Temporary Foreign Worker Program
On October 23, 2014, the federal government introduced Bill C-43, Economic Action Plan 2014 Act, No. 2, omnibus legislation intended to further implement measures first announced in its Budget 2014, Economic Action Plan 2014. Among other matters, Division 24 of Part 4 of Bill C-43 would amend the Immigration and Refugee Protection Act (“Act”) to support a…
New Employment Standards Leaves of Absence Coming Into Effect October 29, 2014
Effective October 29, 2014, three new job-protected leaves of absence will be added to the Employment Standards Act, 2000 – family caregiver leave, critically ill child care leave and crime-related child death or disappearance leave. The new leaves are in addition to existing leaves of absence available to employees under the Act, and can be…
FSCO Consultation on Proposed Investment Guidance Notes (Buy-In Annuities)
On October 7, 2014, the Financial Services Commission of Ontario (“FSCO”) announced that it will be publishing Investment Guidance Notes (“Guidance Notes”) with respect to various investment activities of Ontario registered pension plans. The Guidance Notes will set out FSCO’s expectations and identify issues that plan administrators should consider and address in respect of the…
Ontario Releases Proposed PBA Regulations for Consultation
This past Spring, the Ontario government released proposed amendments to Regulation 909 (the “Regulations”) of the Pension Benefits Act (“PBA”) in respect of four previously announced pension reform initiatives (“April Proposals”). The April Proposals – which described the content of the proposed changes to the Regulations – are summarized in our FTR Now of April…
Disclosure Reforms and New Defined Contribution Payment Option for Federally Regulated Pension Plans
On September 19, 2014, the federal government released proposed amendments to the Pension Benefits Standards Regulations, 1985 (“PBSR”). Proposals relating to the pension investment rules that apply more broadly – to federally regulated pension plans[1] as well as pension plans that are regulated by the provincial pension legislation in Ontario, Alberta, British Columbia, Manitoba, Newfoundland…
Court of Appeal Dismisses Overtime Eligibility Class Action Certification Appeal
On October 6, 2014, the Court of Appeal for Ontario unanimously dismissed an appeal from the Ontario Divisional Court’s decision[1] dated April 23, 2013 which in turn dismissed an appeal from a decision dated April 27, 2012, dismissing a motion for certification of a claim regarding eligibility for overtime pay as a class action.[2] The…
Five PRPP-Licenced Insurers Now Registered for Implementation
On October 7, 2014, the federal government announced that the following five insurance companies have been given licences under the federal Pooled Registered Pension Plan (“PRPP”) framework and have been registered with the Office of the Superintendent of Financial Institutions and the Canada Revenue Agency: Sun Life, Great West Life, Manulife, Standard Life and Industrial-Alliance….