Banking, Bankruptcy & Insolvency
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June 19, 2025
Ottawa quietly reboots Trudeau-era cybersecurity bill passed by Commons but makes changes
The Carney Liberal government has quietly rebooted — with changes — a Trudeau-era cybersecurity bill that proposed new offences, large administrative monetary penalties (AMPs), gags and broad “compliance orders” for businesses, with the stated aim of defending critical infrastructure in the federally regulated sectors of finance, telecommunications, energy and transportation from the rising tide of electronic espionage, ransomware and other “malicious cyber activity.”
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June 18, 2025
G7 summit issues statements on AI, quantum technology, critical minerals and migrant smuggling
Concluding statements on artificial intelligence, quantum technology, critical minerals and migrant smuggling were issued by G7 leaders at the end of the 2025 summit in Kananaskis, Alta.
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June 17, 2025
Canada ramps up sanctions against Russia for Putin regime’s ‘continued aggression’ against Ukraine
Canada announced new sanctions against Russia as leaders of the G7 Western countries met for a second day in Kananaskis, Alta.
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June 17, 2025
CBA backs constitutional amendment to constrain federal use of Charter’s ‘notwithstanding’ clause
In a rare move, the Canadian Bar Association (CBA) has thrown its support behind a Senate public bill (S-218), which proposes a constitutional amendment to restrict and structure the discretion of the federal government to breach Charter rights via the contentious s. 33 “notwithstanding” clause.
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June 17, 2025
Proposed $7M settlement reached in RBC duplicative NSF fee class action
A proposed $7.05-million settlement has been announced in an ongoing class action against Royal Bank of Canada relating to alleged charging of multiple non-sufficient funds (NSF) fees on an attempted transaction.
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June 17, 2025
23andMe data breach a ‘cautionary tale’ for all organizations, warns OPC
The Office of the Privacy Commissioner of Canada (OPC) has warned that the global data breach at 23andMe serves as a “cautionary tale for all organizations about the importance of data protection in an era of growing cyberthreats.”
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June 13, 2025
OSC releases framework for distributing disgorged funds collected to harmed investors
The Ontario Securities Commission (OSC) has issued final rules to “implement a new statutory framework that will facilitate distributing amounts collected by the OSC under disgorgement orders to harmed investors.”
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June 12, 2025
Court approves $1.65M settlement of action against solicitors over failed syndicated mortgage loans
The Ontario Superior Court of Justice has approved a $1.65-million settlement of a class action against solicitors who provided legal services for syndicated mortgage loans (SML) that went into default, causing investors to lose most of their money.
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June 10, 2025
Canada’s top judge declares ‘in this country, the rule of law is non-negotiable’
Lawyers, as officers of the court, have a professional “responsibility and obligation” to defend the rule of law and the independence of the bar and judiciary against attacks, Chief Justice of Canada Richard Wagner said at his annual news conference in Ottawa.
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June 09, 2025
Ontario judge relies on contractual intent, factual context in business dispute involving estate
Pointing to a contract’s factual matrix, an Ontario Superior Court judge has awarded ownership of a North Bay, Ont., fishing store to one of its original partners in a dispute with an estate trustee — his deceased business partner’s surviving spouse.