Banking, Bankruptcy & Insolvency
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February 21, 2025
Feds kick off information-sharing ‘partnership’ between RCMP, big banks aimed at money laundering
Ottawa has launched an initiative this week that the federal government says will “support the permissible sharing of money laundering and organized crime intelligence between law enforcement and Canada’s big banks.”
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February 21, 2025
Seven criminal organizations listed as ‘terrorist entities’ subject to dealings, immigration bans
Canada has listed seven “transnational criminal organizations,” including street gangs and several major Mexican cartels that traffic in fentanyl, as “terrorist entities” under the Criminal Code — triggering immigration and dealings bans in Canada as well as expanding the tools law enforcement authorities have to trace and seize proceeds of crime, the federal government says.
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February 20, 2025
PBO report finds guaranteed basic income program could reduce poverty by 40 per cent
The Office of the Parliamentary Budget Officer (PBO) has released a report on a guaranteed basic income (GBI) for Canadians, concluding that the measure could reduce the country's household poverty rate by 40 per cent if implemented.
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February 18, 2025
Securities regulators launch ‘collaboratory’ to explore investment data portability
Securities regulators in British Columbia, Alberta, Saskatchewan, Manitoba, New Brunswick and Nova Scotia are calling on industry stakeholders to join discussions and test innovative tools and strategies aimed at enhancing the portability of client data within the investment market.
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February 18, 2025
StatCan releases report on CEBA borrowing, repayments and bankruptcy data
Statistics Canada has released a new report on the federal government's COVID-related Canada Emergency Business Account (CEBA) that it says could provide insight “into how the use of emergency funding programs may have influenced short and medium-term business survival rates.”
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February 14, 2025
Feds launch 2025 pre-budget consultations amid tariff uncertainty
The federal government has launched pre-budget consultations amid the looming threat of the U.S. potentially imposing tariffs on Canadian imports.
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February 13, 2025
CBA urges new funding as Federal Court’s massive budget shortfall threatens drastic service cuts
The Liberal government’s underfunding of the Federal Court could “drastically” reduce service to litigants, its chief justice warns, spurring the Canadian Bar Association (CBA) to call for urgent “off-cycle” federal funding to address the national trial court’s chronic multi-million-dollar budgetary shortfalls.
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February 13, 2025
NWT looking for input on new Builders’ Lien Act
The Northwest Territories is looking for input on regulations needed to bring into force its Builders’ Lien Act — new legislation setting out the legal rights and remedies for those embroiled in construction disputes.
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February 12, 2025
Ontario Court of Appeal finds order lifting BIA stay to be procedural, denies lender leave to appeal
The Ontario Court of Appeal has found that a lender did not have an automatic right to appeal an order lifting a stay under the Bankruptcy and Insolvency Act and has permitted a project owner to terminate an agreement with an insolvent project developer.
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February 11, 2025
Canada sanctions two Sudanese leaders linked to human rights violations
Ottawa is sanctioning two Sudanese leaders of opposing warring groups who are linked to the ongoing violence against civilians in Sudan, where more than 12 million people have been displaced as a result of the country’s internal conflicts.