Business
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December 13, 2024
CRYPTOCURRENCIES - Application of securities laws - Cryptocurrency exchanges - Initial coin/token offerings (ICO/ITO) - Prospectus requirements or exemption
Appeal by appellant from the order of the motion judge dismissing its motion for a stay of proceedings in favour of arbitration. The appellant operated the world's largest cryptocurrency trading platform. It sold cryptocurrency derivatives to Canadians through its website. However, the motion judge found that cryptocurrency derivatives contracts were novel, complex, and risky securities, presenting investor protection concerns.
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December 13, 2024
Eight-paragraph appeal Court decision could benefit from analysis of trial judge’s reasoning
Two men were charged after police executed a search warrant at a Peterborough residence on March 6, 2020. Peterborough Police issued a press release stating that the force’s Intelligence Crime Analyst Drug Unit (ICAD) and the Emergency Response Unit executed the Controlled Drugs and Substances Act (CDSA) search warrant at a Bethune St. address. There, police located a quantity of cocaine and Canadian currency along with a .45-calibre handgun.
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December 12, 2024
Supreme Court denies leave to appeal stay of Google ad price-fixing class action
The Supreme Court of Canada has declined leave to appeal a B.C. Court of Appeal decision that stayed in favour of arbitration a proposed class action against Google over allegations that it conspired with Apple to artificially inflate the price of Google search ads.
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December 12, 2024
PBO releases overview of Ottawa's national housing strategy, cites challenges with certain information
The Office of the Parliamentary Budget Officer (PBO) has released a report on federal government's spending this year on its national housing strategy, noting that the government is projecting how much housing it will provide but not how many people will be in need.
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December 12, 2024
Trademark registrar announces pilot project in January to address issue of ‘deadwood’ marks
Beginning in January, Canada’s registrar of trademarks will start proactively issuing a limited number of section 45 notices in a bid to tackle the growing problem of deadwood trademarks in the Canadian marketplace.
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December 12, 2024
Court approves $70.25M settlement of TD Asset Management trailing commissions class action
The Ontario Superior Court has approved a $70.25 million settlement in a class action against TD Asset Management Inc. (TDAM) over allegations that it paid unearned or excessive trailing commissions to discount brokers out of mutual fund assets.
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December 12, 2024
New 10-day freehold purchase termination right differs from condominiums
The Homeowner Protection Act, 2024 (HPA) received Royal Assent on June 6, 2024. The HPA introduces a new 10 day “cooling off period” into the New Home Construction Licensing Act, 2017 which, once proclaimed, will permit the purchaser of a new freehold home from a builder to terminate an agreement of purchase and sale pursuant to an expressed statutory entitlement to do so. The termination right does not apply to resale residential purchase agreements or to properties already covered by the termination right afforded by the Condominium Act. The HPA termination right is similar, but not identical, to the termination right afforded to condominium purchasers from a declarant under the Condominium Act. This article examines some of the similarities and differences between the HPA termination rights and those in the Condominium Act.
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December 12, 2024
Yukon, Ottawa failed to consult Indigenous group on ‘economic feasibility’ of mine project
Yukon’s top court has found that both the territory’s government and that of the country failed to properly consult a First Nations group on the “economic feasibility” of a mine planned to be built on Indigenous land. The Court of Appeal of Yukon case of Ross River Dena Council v. Yukon (Government of), 2024 YKCA 18, released Dec. 6, pits the governments of Canada and Yukon (known as the “Decision Bodies”) against the Ross River Dena Council (RRDC), which brought the court the legal action on behalf of the Kaska Nation.
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December 11, 2024
FINTRAC imposes $2M penalty on Exchange Bank of Canada
The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) has imposed an administrative penalty of more than $2 million on Exchange Bank of Canada for non-compliance with Part 1 of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act and its associated Regulations.
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December 11, 2024
Deemed trust amendment shields fresh produce sellers, helps exporters, says industry
Canada's $13 billion fresh produce industry is welcoming an amendment to federal insolvency laws establishing a deemed trust financial protection mechanism for fresh produce sellers.