In light of recent concerns regarding the outbreak of Ebola abroad, the Ontario Ministry of Labour (“MOL”) has been conducting a series of Ebola preparedness investigations targeting hospitals and paramedic services. In this FTR Now, we outline best practices for handling an investigation by the MOL and consider the right of employees – including health…
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Divisional Court Upholds Jan Wong’s Obligation to Repay Settlement Funds for Breach of Confidentiality
The Ontario Divisional Court has unanimously upheld Arbitrator Louisa Davie’s decision that Jan Wong breached her confidentiality obligations under a settlement with her former employer, The Globe and Mail (the “Globe”) and is bound by the repayment obligation she agreed to as part of the settlement. The Court held that Ms Wong lacked standing to…
Omnibus Workplace Laws Bill Amended at Committee Stage (Bill 18)
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…
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…
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…
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 Proposes Pension Regulations
On October 3, 2014, the Ontario government published proposed amendments (“Proposed Amendments”) to Regulation 909 of the Pension Benefits Act (“PBA”) that incorporate stakeholder feedback received in response to proposed amendments first published on April 25, 2014, as previously discussed. The government is inviting comments from stakeholders on the following new Proposed Amendments: Statements for…
Natasha Monkman featured in Benefits and Pensions Monitor
Benefits and Pensions Monitor featured Hicks Morley’s Natasha Monkman in their September 26, 2014 Daily News Alerts. The article features Natasha’s recent presentation at the Canadian Pension & Benefits Institute’s Atlantic regional annual conference, and summarizes her presenation as follows: “Fees, selection of default funds, and imprudent selection of investments are the leading causes of legal action in the U.S….
Proposed Investment Rule Changes for Registered Pension Plans
On September 19, 2014, the Department of Finance Canada released proposed amendments to the federal Pension Benefits Standards Regulations, 1985 (“PBSR”). The proposed amendments would modernize the pension investment rules applicable to pension plans registered in many Canadian jurisdictions. Specifically, these changes will, if adopted as drafted, impact the investments that are permitted to be…
Alberta Legislature Prorogues
On September 18, 2014, the Alberta government prorogued until November 17, 2014, bringing all business and legislation on the Order Paper before the Legislative Assembly to an end. The government’s announcement indicates that it does not intend to re-introduce Bill 9, the Public Sector Pension Plans Amendment Act or Bill 10, the Employment Pension (Private…