Barry Campbell
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Miners & Manufacturers Beware: Canada To Review Overseas Human Rights Abuses
The Office of the Canadian Ombudsperson For Responsible Enterprise (“CORE’) is open for business. Established by Order in Council and not legislation, CORE has no enforcement powers nor can it compel witnesses to appear or even cooperate. This has disappointed many advocates. CORE can conduct reviews “concerning an alleged human rights abuse” arising from a Canadian…
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Bank of Canada Accelerating Its Consideration Of A “Digital Loonie”
We have previously flagged the growing threat of private digital currencies to official (paper) currency. In a recent speech the Deputy Governor of the Bank of Canada confirmed that the Bank is accelerating its consideration of the role and form of an official digital currency. This is the result of the declining use of cash during the…
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OSFI Consultation on Climate-Related Risk Will Shape Regulation of Financial and Pension Sectors
The Office of The Supervisor Of Financial Institutions (“OSFI”), Canada’s regulator of financial institutions and federally regulated pension plans, has launched a consultation on climate related risks in the financial sector. OSFI identifies climate risk as potentially impacting the safety and soundness of federally regulated institutions and pensions. OSFI sees severe climate events increasingly driving…
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Finance Minister Resigns: Where Does That Leave The Liberal Government?
The resignation of a finance minister is no small matter. For an opposition party, bringing down a finance minister is the equivalent of bagging big game (in the political jungle). For a government, losing a finance minister (because of a rupture in the relationship with a prime minister or over policy disagreements) is a huge…
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Canada Applies The Breaks On Foreign Takeovers
Canada is definitely not fully open for business “until the economy recovers from the effects of the Covid-19 pandemic.” In a terse announcement in the middle of this past weekend, the Investment Review Division of Innovation, Science and Economic Development Canada moved to protect from foreign takeovers, businesses: “related to public health or involved in the supply…
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Canada Applies The Breaks On Foreign Takeovers
Canada is definitely not fully open for business “until the economy recovers from the effects of the Covid-19 pandemic.” In a terse announcement in the middle of this past weekend, the Investment Review Division of Innovation, Science and Economic Development Canada moved to protect from foreign takeovers, businesses: “related to public health or involved in the…
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Government Measures To Combat The Economic Impact Of COVID-19
Over the past 10 days federal and provincial governments and regulators have announced a dizzying array of measures to support workers and businesses. Some measures, like those introduced by the Bank of Canada and OSFI, are highly technical and designed to provide liquidity to ensure the smooth functioning of the economy. Other initiatives promise direct…
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Government Digs Deep With $82B For Individuals And Businesses
The federal government has announced the first phase of its economic support plan in response to COVID-19. $82 billion is being released to support Canadian individuals and businesses, including $27B in direct support and $55B to meet liquidity needs through tax deferrals. These measures are in addition to the liquidity support announced last week by…
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An Eventful Day In Ottawa – The Government Addresses The COVID-19 Threat
First the bad news: The Coronavirus is here and it is a significant threat to the health of Canadians. It is already having significant economic impacts reflected in unprecedented stock market gyrations. This virus has struck close to home for the Prime Minister whose wife is ill; but as Justin Trudeau noted in his mid-day…
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Lobbying For Good
From Barry Campbell, something you don’t often see: a defense of lobbying and an explanation of how lobbying shapes better public policy: The circumstances around the resignation of Jody Wilson Raybould have shone a light, and not a favourable one, on the lobbying by SNC Lavelin. That lobbying by SNC Lavelin of the PMO and…