On November 16, 2016, the Ontario government introduced Bill 70, Building Ontario Up for Everyone Act (Budget Measures), 2016 (Bill 70). Bill 70 is omnibus legislation that includes various pension-related initiatives, including substantive changes to certain pension minimum standards…
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Ontario Proposes Significant Overhaul of Pension Regulatory Framework
On November 16, 2016, the Ontario government introduced Bill 70, Building Ontario Up for Everyone Act (Budget Measures), 2016, omnibus legislation that would, among other things: enact the Financial Services Regulatory Authority of Ontario Act, 2016 to establish a new framework for the creation of the Financial Services Regulatory Authority of Ontario (FSRA), replacing both…
$30,000 in Damages Awarded against Volunteer Board of Directors for Discriminatory Posters in Housing Co-operative
The Human Rights Tribunal of Ontario (Tribunal) recently awarded $30,000.00 in damages against the volunteer members of the Board of Directors of Rouge Valley Co-operative Homes Inc.
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…
Legislation Expanding Ombudsman Jurisdiction to Municipalities, Universities and School Boards Now In Force
On January 1, 2016, provisions of Schedule 9 of the Public Sector and MPP Accountability and Transparency Act, 2014 came into force. These provisions amend the Ombudsman Act (“Act“) to expand the jurisdiction of the Ontario Ombudsman to investigate matters related to publicly-funded universities and municipal sector entities (defined as municipalities, local boards and municipally-controlled corporations). On September 1, 2015, provisions…
OHA – Webcast and Videoconference
Topic “Performance-Based Compensation: Legal Obligations and Guidelines for Implementation” Legal Obligations under the Excellent Care for All Act, 2010 and the Public Sector Restraint to Protect Public Services Act, 2010 Agenda
Amendments to FIPPA/MFIPPA To Come Into Force January 1, 2016
Schedule 6 of the Public Sector and MPP Accountability and Transparency Act, 2014, which amends the Freedom of Information and Protection of Privacy Act and the Municipal Freedom of Information and Protection of Privacy Act, has been proclaimed into force effective January 1, 2016. Among other things, the amendments will: require institutions to ensure that…
FSCO Invites Public Consultation on Recent Changes to SIPP Requirements
On June 30, 2015, the Financial Services Commission of Ontario (“FSCO”) posted Investment Guidance Notes on Environmental, Social and Governance Factors (ESG) and Statements of Investment Policies and Procedures (SIPPs) for Member Directed Defined Contribution Plans for public consultation prior to being finalized. Investment Guidance Notes set out the expectations of FSCO regarding the investment…
FSCO Updates Form 1 (Pension Plan Registration), Asset Transfer FAQs
On April 7, 2015, the Financial Services Commission of Ontario (“FSCO”) published a revised Application for Registration of a Pension Plan, Form 1 and added new frequently asked questions for plan administrators (“FAQs”) with respect to Multi-Jurisdictional Pension Plan Asset Transfers, among other things. The Form 1 has been updated to provide FSCO with additional…
Government Issues BPS Compensation Information Directive
On March 24, 2015, the Management Board of Cabinet issued the Broader Public Sector Compensation Information Directive (the “Directive”) under the Broader Public Sector Executive Compensation Act, 2014 (the “BPSECA”). The Directive came into effect on April 1, 2015. In this FTR Now, we will briefly review the Directive and its role within the scheme…