Québec court finds aspects of securities model unconstitutional

By Lawrence E. Ritchie, Robert M. Yalden, W. David Rankin – Osler, Hoskin & Harcourt LLP Originally published May 12, 2017 at osler.com In response to a reference from the Government of Québec, the Québec Court of Appeal has concluded that while the governance framework for the co-operative capital markets regulatory regime, as proposed, is unconstitutional,… Read More Québec court finds aspects of securities model unconstitutional

Bad News for Investors from the CSA

  The Canadian Securities Administrators (CSA) announced yesterday that a majority of provinces and territories have abandoned the project of working on a best interest standard governing investment advisers and other financial intermediaries. This is bad news for investors especially given the “expectations gap” that consumers experience: they incorrectly assume that advisers are obliged to… Read More Bad News for Investors from the CSA

Continued Governance Problems at Bombardier

At today’s shareholder meeting, the CEO of Bombardier, Alain Bellmare, stated that Bombardier is now “tighter on governance.” Perhaps he was referring to the move of Pierre Beaudoin to step down as executive chair  after major Canadian pension funds refused to support Beaudoin  in this position. But this governance change, while positive, is minor. There… Read More Continued Governance Problems at Bombardier

Canada’s approach to board diversity needs a rethink

By Anita Anand and Krupa Kotecha http://www.theglobeandmail.com/report-on-business/rob-commentary/canadas-approach-to-board-diversity-needs-a-rethink/article34386450/ Earlier this month, State Street Global Advisors erected a statue of a little girl directly facing Wall Street’s iconic bull. The so-called “fearless girl” statue is a symbol of State Street’s somewhat timid ultimatum: If the corporations in which it invests do not take measures to improve boardroom… Read More Canada’s approach to board diversity needs a rethink