Canadian pension funds are continually seeking investment opportunities abroad with a view to diversifying their portfolio and maximizing risk-adjusted returns. Offerings of investments in U.S. real estate and infrastructure projects will likely increase as a result of recent U.S. legal reforms which aim to attract foreign investment in these areas. Under the U.S. Foreign Investment in Real…
Industry: Financial Services
Ontario Proposes Regulatory Amendments to Prohibit Use of Medical Marijuana Vaporizers in Workplaces
On March 10, 2016, the Ontario government introduced Bill 178, Smoke-Free Ontario Amendment Act, 2016. If passed, Bill 178 would amend the Smoke Free Ontario Act to provide for prescribed products and substances, in addition to tobacco. Among other things, Bill 178 would prohibit a person from smoking a prescribed product or substance or holding…
Ontario Proposes Elimination of the “30% Rule” for Pension Investment
Further to announcements made in its 2015 Economic Outlook and Fiscal Review, the Ontario government is soliciting feedback on proposed regulatory reforms that would eliminate the current investment rule that prohibits plan administrators from making investments that result in pension funds owning more than 30% of the voting shares of a corporation. The so-called “30% rule”…
2016 Ontario Budget and Budget Bill Released
On February 25, 2016, the Ontario government tabled its 2016 Budget “Jobs for Today and Tomorrow” (“Budget”) and the corresponding Budget Bill, Bill 173, Jobs for Today and Tomorrow Act (Budget Measures), 2016 (“Bill 173”), supporting omnibus legislation designed to implement some of the proposals contained in the Budget. Our FTR Now of February 29, 2016, “Ontario Budget 2016”…
Raising the Bar – Twelfth Edition
Dear Friends Welcome to the first 2016 issue of Raising the Bar! We are looking forward to a year full of exciting developments in the world of civil litigation. However, before we know where we’re headed, we thought it would be wise to reflect on where we’ve been. Now that the dust has settled, we…
Ontario Budget 2016
On February 25, 2016, the Ontario government tabled its 2016 Budget “Jobs for Today and Tomorrow” (“Budget”) and the corresponding Budget Bill, Bill 173, Jobs for Today and Tomorrow Act (Budget Measures), 2016 (“Bill 173”). In this FTR Now, we highlight some of the key proposals that are of particular interest to employers, human resources…
Ontario Tables Budget 2016
On February 25, 2016, the Ontario government tabled its 2016 Budget “Jobs for Today and Tomorrow” and the corresponding Budget Bill, Bill 173, Jobs for Today and Tomorrow Act (Budget Measures), 2016.
Ontario Filing Requirements for Statements of Investment Policies and Procedures and Form 14
Recent amendments to Ontario’s Pension Benefits Act regulations now require that administrators of Ontario registered pension plans file Statements of Investment Policies and Procedures (“SIPPs”) with the Financial Services Commission of Ontario (“FSCO”), together with a detailed information summary form (“Form 14”). We discuss these new filing requirements and supporting FSCO resources in this FTR…
ORPP Implementation Delayed to January 1, 2018
On February 16, 2016, the Ontario government announced that the first wave of Ontario Registered Pension Plan (“ORPP”) implementation has been delayed by one year to January 1, 2018. This change, which impacts certain large employers with more than 500 employees, is one of several significant developments outlined in this FTR Now. THE ANNOUNCEMENT The…
Court Recognizes New Privacy Tort: “Public Disclosure of Embarrassing Private Facts”
In a case that can only add to the risk of privacy claims faced by organizations, the Ontario Superior Court of Justice recently awarded damages based on the new tort of “public disclosure of embarrassing private facts.” In Doe 464533 v N.D., the Court awarded damages to a plaintiff whose former boyfriend coaxed her to…