Banking, Bankruptcy & Insolvency
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June 30, 2025
G7 countries reach accord for ‘side-by-side’ system on global minimum tax
Two weeks after their summit in Kananaskis, Alta., G7 countries have issued a statement endorsing an international “side-by-side” system that would exempt U.S. multinational corporations from two global minimum tax rules, helping to de-escalate growing tax tensions with the world’s largest economy.
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June 30, 2025
Quebec regulation for complaint processing coming into effect July 1
The Autorité des marchés financiers (AMF) has announced that the regulation respecting complaint processing and dispute resolution in the financial sector, first published on Feb. 15, 2024, will be coming into effect on July 1.
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June 30, 2025
Saskatchewan regulator’s 2024 report highlights mental health, AI, competency
Saskatchewan’s legal regulator was active last year in continuing its goals of increasing competency, minding members’ mental health and guiding lawyers in the use of artificial intelligence. The Law Society of Saskatchewan (LSS) laid out progress in these areas and others as part of its recently released annual report for 2024.
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June 30, 2025
Canada drops digital services tax to restart U.S. trade talks, avert more tariffs
The federal government has withdrawn its digital services tax (DST) on U.S. technology giants to resume trade negotiations days after U.S. President Donald Trump terminated talks with Canada over the levy.
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June 27, 2025
B.C. Court of Appeal increases damages award to parents who lost son, citing potential contributions
The B.C. Court of Appeal has increased damages awarded to parents who lost their 17-year-old son in a car accident to include compensation for the unpaid work their son was likely to undertake during his university years.
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June 27, 2025
CSA business plan seeks to address rising investor risks while helping companies grow
Canada’s securities regulators will pursue projects over the next three years that will include examining regulatory changes that could benefit growth issuers, pursuing a Bankruptcy and Insolvency Act amendment that would enable securities regulator orders to survive bankruptcy, and further determining regulatory needs around artificial intelligence.
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June 27, 2025
CSA proposes ban on chargebacks in investment fund sales
The Canadian Securities Administrators (CSA) is proposing to ban chargebacks, a practice that allows investment funds, including mutual funds, to require dealers to repay upfront commissions if clients redeem their securities before a set period.
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June 27, 2025
Tax Court turns to 1997 'safe harbour' rule to allow appeal related to refugee’s expired work permit
The Tax Court of Canada has allowed an appeal of a decision that ruled that the appellant was not in insurable and pensionable employment for a period of about one year because his work permit was not renewed.
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June 26, 2025
Federal Court Chief Justice Crampton to retire in fall after 14 years leading national trial court
The Federal Court announced that its chief justice, Paul Crampton, will retire from the bench next fall, after almost 14 years as the court’s leader and 16 years as a puisne judge with the itinerant national trial court.
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June 26, 2025
FedCt unveils new practice guidelines; cuts oral, written argument in visa, work & study permit JRs
The Federal Court this week “paused” its study permit pilot project and announced that, for judicial reviews of denials of temporary resident visas, study permits and work permits, the default maximum time for hearings will be reduced to 45 minutes and the default maximum written submissions will be limited to 20 pages, starting Sept. 2.