Reasonable notice periods still not “one size fits all”
You know that “rule of thumb” of one month notice for each year of employment? The one we use as a rough guideline for getting in the ballpark when determining a reasonable notice periods? The Court of Appeal has reminded us that the “rule of thumb” may not even get you near the ballpark when dealing with senior, high salaried employees. [more]
Oppression class actions now recognized in both British Columbia and Ontario
In recent years, much attention has been paid to amendments to provincial Securities Acts across Canada that make it easier for shareholders to sue for misrepresentations by public companies in financial statements and other public documents...
During this period significantly less attention has been paid to whether shareholder class actions might be brought under another and potentially much broader statutory remedy: the oppression remedy under one of the provincial or federal business corporations statutes. However, this may be changing.
Originally published in The Lawyers Weekly. [more]
IIROC Increases mandatory arbitration award limits to $500,000
On January 14, 2010, the Investment Industry Regulatory Association of Canada (“IIROC”), the self regulatory organization (SRO) that regulates all investment dealers in Canada, enacted what is almost certain to be a major expansion of its 15-year-old mandatory arbitration program. In particular, IIROC has increased from $100,000 to $500,000 the upper limit on client claims that are required to be resolved through binding arbitration if the client requests it. [more]
Raising the AMPerage
The Spread of Administrative Monetary Penalties in Canada
AMPs have become widespread in administrative schemes in Canada because they fill a gap between traditional administrative and criminal enforcement tools. This paper explores the rationales that are behind the spread of AMPs in Canadian law. It outlines a number of AMP schemes in federal and provincial legislation. Finally, it discusses three issues that commonly arise in AMP proceedings: the availability of a due diligence defence, whether AMP provisions apply retrospectively, and interpretive difficulties raised by the novelty of language used in AMP provisions. [more]
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