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…
Industry: Education
Union Financial Disclosure Bill Receives Royal Assent
On June 30, 2015, Bill C-377, An Act to amend the Income Tax Act (requirements for labour organizations), received Royal Assent. Bill C-377, a private member’s bill, requires unions to file certain financial information with the Canada Revenue Agency (“CRA”) within six months from the end of each fiscal period. Among other things, information to…
New Police Record Checks Reforms Introduced
On June 3, 2015, the Ontario government introduced Bill 113, the Police Record Checks Reform Act, 2015, legislation that would, if passed, implement a new process governing requests for searches of the Canadian Police Information Centre databases, or other police databases, in connection with screening an individual for certain purposes. Among other things, the Bill would: authorize…
School Board Back-to-Work Legislation Receives Royal Assent
On May 28, 2015, Bill 103, Protecting the School Year Act, 2015, received Royal Assent. This Bill was introduced by the Ontario government on May 25, 2015 and is back -to-work legislation regarding strikes at three school boards: the Durham District School Board, the Peel District School Board and the Rainbow District School Board. The…
Ontario Government to Amend Workplace Laws
On May 28, 2015, the Ontario government introduced Bill 109, the Employment and Labour Statute Law Amendment Act, 2015, proposed legislation intended to effect a number of changes to workplace laws, including: the labour relations provisions of the Fire Protection and Prevention Act, 1997 ("FPPA"); the Public Sector Labour Relations Transition Act, 1997 ("PSLRTA"); and…
Ontario Passes PRPP Legislation
On May 26, 2015, Bill 57, the Pooled Registered Pension Plans Act, 2015, passed Third Reading, as amended by the Standing Committee on Social Policy. The Bill, which is awaiting Royal Assent, will come into force on a date to be named by proclamation. As we previously reported, pooled registered pension plans (“PRPPs”) are a…
Federal Government Announces Possible Canada Pension Plan Expansion
On May 26, 2015, the federal government announced that it will conduct public consultations regarding potential changes to the Canada Pension Plan (“CPP”) to allow Canadians to voluntarily contribute more. No details were released at the time of the announcement. We will continue to monitor any developments regarding a possible expansion of the CPP.
Alberta Extends Deadline for Filing Amendments Relating to EPPA Reform
As previously reported, the pension reforms in British Columbia will come into force on September 30, 2015. Amendments to plans registered in British Columbia which reflect the new legislative requirements must be filed by December 31, 2015. While likely to follow suit, the Ontario pension regulator, the Financial Services Commission of Ontario, has not yet…
Employment Standards Enforcement Blitzes Announced for Ontario Workplaces
The Ontario Ministry of Labour has announced that it will do province-wide enforcement blitzes of workplaces that employ “new, young and vulnerable workers engaged in “precarious employment”” and temporary foreign workers to ensure that employers are complying with their obligations under the Employment Standards Act, 2000. The blitzes will take place from May 1 to…
Changes to the Federal Pension Investment Rules
In March 2015, the federal government published final regulations amending investment rules under the Pension Benefits Standards Regulations, 1985 (“Regulations”). These reforms apply to federally registered pension plans and to pension plans registered in provincial jurisdictions that have adopted Schedule III of the Regulations, as amended (the “Federal Investment Rules” or “FIR”). As we previously…