The Ontario government has proclaimed subsections 1(2), 2(2), 3(2) and 5(1) of Schedule 21 of the Helping Ontario Families and Managing Responsibly Act, 2010, which amends the Workplace Safety and Insurance Act, 1997, into force on January 1, 2013. Among other things, the amendments provide for changes to the Workplace Safety and Insurance Board’s insurance…
Industry: Financial Services
ESA Compliance Blitz to Target Temporary Workers, Agencies
Throughout June, July and August of 2012, the Ontario government will be conducting targeted inspections of temporary employee agencies across the province to ensure compliance with the Employment Standards Act, 2000. The blitz will focus on the following: minimum wage; vacation pay; public holidays, including time off and public holiday pay; and rules related to…
Bill 77, Labour Relations Amendment Act (Fairness for Employees), 2012
On May 3, 2012, Bill 77, Labour Relations Amendment Act (Fairness for Employees), 2012, a Private Member’s Bill, passed at Second Reading and was referred to the Standing Committee on Finance and Economic Affairs; the Bill was considered on June 7, 2012. Bill 77 proposes a number of amendments to the Labour Relations Act, 1995…
New WSIB Insurance Fund, Temporary Indexing Regulations Filed
On June 5, 2012, the Ontario government filed O. Reg 141/12 “Insurance Fund,” made under the Workplace Safety and Insurance Act (“Act”). In part, the regulation requires the Workplace Safety and Insurance Board (“WSIB”) to ensure the insurance fund meets the following sufficiency ratios by the following dates: 60 per cent on or before December…
Ontario Announces Consultations to Enhance BPS Pension Fund Investment Efficiencies
Further to initiatives first announced in its 2012 Budget, the Ontario government has appointed a special Pension Investment Advisor, Bill Morneau, to develop recommendations for the government’s consideration through a public consultation process in anticipation of a new legislative framework that will facilitate the pooling of pension fund assets in the broader public sector (“BPS”)….
Federal Pooled Registered Pension Plan (“PRPP”) Legislation Reported Back to House
On May 28, 2012, Bill C-25, An Act relating to pooled registered pension plans and making related amendments to other Acts was reported back as amended to the House of Commons following its consideration by the Standing Committee on Finance, and the House passed a motion concurring with the report. Third reading of Bill C-25…
Ontario Proposes Plan Administrator Disclosure Obligations, Proclamation Dates
On May 14, 2012, the Ontario government published additional draft amendments to General regulation 909 under the Pension Benefits Act (“Act”), and further proposed a proclamation date of July 1, 2012 in respect of certain amendments to the Act. The regulatory amendments would specifically outline the information plan administrators are required to disclose, including: “prescribed…
Ontario WSIB Funding Changes Announced on Heels of Arthurs Report
On May 4, 2012, the Ontario government announced that it would file a new regulation under the Workplace Safety and Insurance Act, 1997, to require the insurance fund of the Workplace Safety and Insurance Board (“WSIB”) to reach sufficiency of 60 per cent funding in 2017, 80 per cent funding in 2022 and a full…
Ontario Releases Proposed Grow-In Benefit Regulations
Further to the release of pension reform proposals, on Thursday, May 3, 2012 the Ontario government published additional draft amendments to General regulation 909 under the Pension Benefits Act (“Act”). As anticipated, the draft regulations prescribe additional “activating events” or circumstances that would trigger grow-in benefits for the purpose of s. 74(1), paragraph 3 of…
Overtime Eligibility Class Action Certification Motion Dismissed
On April 27, 2012, Mr. Justice George Strathy of the Ontario Superior Court of Justice released his decision in which he dismissed a motion for certification of a proposed class action brought by Michael Brown and Brian Singer, on behalf of current and former “Analysts,” “Investment Advisors” and “Associate Investment Advisors” employed by the Canadian…