Publications

December 1, 2012

Francization – Bill No 14 amending the Charter of the French language

This publication was authored by Luc Thibaudeau, former partner of Lavery and now judge in the Civil Division of the Court of Québec, District of Longueuil. The title of this newsletter gives a good summary of the explanatory notes that serve as an introduction to Bill 14, entitled An Act to amend (…)

December 1, 2012

AMF Investigations: The duty to answer an investigator and his jurisdiction to rule on objections (continued)

With regard to our In Fact and In Law Express newsletter of July 2012, entitled ‘‘AMF Investigations: The duty to answer an investigator and his jurisdiction to rule on objections’’, please be informed that, on December 20, 2012, the Supreme Court dismissed Fournier’s (…)

November 1, 2012

New consumer protection measures for prepaid credit cards

This publication was authored by Luc Thibaudeau, former partner of Lavery and now judge in the Civil Division of the Court of Québec, District of Longueuil. On October 24, 2012, the Harper government announced its intentions to enact new regulations to protect consumers who use prepaid credit cards (…)

October 1, 2012

Investment and Financial Security Advisors: Respect your clients’ goals and document your files!

Two recent decisions of the Court of Appeal remind us of the duty on investment advisors and financial security advisors to know their client and the correlative duty of information. In both cases, the Court of Appeal held that the advisor had breached his duty to know his client, assess the (…)

July 1, 2012

AMF Investigations: The duty to answer an investigator and his jurisdiction to rule on objections (continued see In Fact and In Law Express, December 2012)

The Securities Act [SA] allows the Autorité des marchés financiers [the “AMF”] to order investigations to ensure compliance with the SA and to repress contraventions which may be committed. This is the context in which the Court of Appeal handed down a decision on June 22, 2012 going to (…)

March 1, 2012

E-Distribution of Insurance Products: the AMF Wants Your Input!

On February 24, 2012, the Autorité des marchés financiers published, on its website, a notice of consultation entitled Notice and Request and Comment on Internet Insurance Offerings in Québec.This process follows the AMF’s analysis, initiated a few years ago of the issues relating to (…)

December 1, 2011

OCRCVM v. Beaudoin and AMF (C.A.) – Courts of justice cannot homologate a disciplinary decision in the absence of a specific legislative provision to that effect

The Investment Industry Regulatory Organization of Canada (IIROC, formerly known as the Investment Dealers Association of Canada (IDA)) is a self-regulatory organization recognized by the Autorité des marchés financiers (AMF), which mainly deals with disciplinary complaints against its members. For (…)

November 1, 2011

Supervising the Use of Social Networking Websites by Financial Sector Intermediaries

The use of social media, discussion forums and other websites for business purposes, as a means of communicating with the public, raises increasingly significant compliance issues for regulated entities of the financial sector. Such use may expose registered or certified representatives and, (…)

June 1, 2011

BILL 7 – SECTION 115 of the Act Respecting the Distribution of Financial Products and Services

On May 4, 2011, an important Bill was presented by the Minister for Finance, Mr. Alain Paquet.The effect of Bill 7, entitled An Act to amend various legislative provisions concerning the financial sector, is, among other things, to amend section 115 of the Act respecting the distribution of (…)

May 1, 2011

La responsabilité contractuelle et extracontractuelle des banques : développements récents.

April 1, 2011

Change in Corporate Culture: New Expectations of the AMF for Insurer’s “Commercial Practices”

On March 11, 2011, the Autorité des marchés financiers (the “AMF”) published a draft Commercial Practices Guideline, which is available for public consultation on the website of the AMF until April 22, 2011.This Guideline constitutes a statement of principle on the expectations of the (…)