NAFTA 2.0: The United States-Mexico-Canada Agreement
Canada, Mexico and the United States reached an agreement on a renegotiated North American Free Trade Agreement (NAFTA) on September 30: the United States-Mexico-Canada Agreement (USMCA). The USMCA updates the more than two decade-old agreement, and includes substantial changes to rules regarding, among other things, investment protection, intellectual property, and automotive manufacturing
What You Need To Know
Investment protections between Canada and the U.S. will no longer be subject to arbitration
Protections of Canadian investments in Mexico will be governed by the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), which contains substantially stronger protections than those that remain in the USMCA between the U.S. and Mexico.
New biologic drugs will now be entitled to a…
Torys Wins Five LMG Life Sciences Awards
Torys is pleased to announce we have been named winners for five LMG Life Sciences awards for 2018
The firm was named as winner in the following categories
Canadian Product Liability Firm of the Year
Canadian Life Cycle Firm of the Year
Canadian Finance & Transactional Firm of the Year
Partner Eileen McMahon was also individually recognized when she was named Canadian Patent Non-Contentious Attorney of the Year.
Eileen is the chair of Torys’ Intellectual Property and Food and Drug Regulatory Practices and is one of the few Canadian lawyers who advise on regulatory clearance and intellectual property protection of products.
The LMG Life Sciences directory recognizes the top firms and lawyers practicing in all areas…
How Will the EU GDPR Affect Canadian Businesses?
Parallels to Canadian Privacy Law, with Additional Obligations
June 14, 2018
The new European privacy regime—the General Data Protection Regulation (GDPR) is now in force. Although its broad scope may impose new privacy obligations on a larger number of Canadian businesses, the impact of the GDPR in Canada is unlikely to be significant in the short term. Rather, the influence of EU privacy standards on how Canadian privacy laws are amended and interpreted in the longer term promises to have a more direct impact on Canadian businesses than the GDPR itself
What You Need To Know
GDPR, like Canada's federal privacy law, PIPEDA, imposes obligations on companies which handle personal data: information that can be used…
Michael Fortier Comments on Potential Benefits from Proposed Environmental Reforms to Bill C-69
Partner Michael Fortier has provided insight to Law Times regarding the proposed reforms to the Impact Assessment Act
The article addresses the proposed changes regarding the federal environmental assessment regime; particularly regarding how early assessments of projects could help eliminate future issues among affected communities and the environment—along with saving time and money for the owners of such projects. The aim is to promote projects that are in the public interest
Michael told Law Times the changes to the bill provided an opportunity for a fresh start for the federal environmental assessment process, opposed to just amendments being made to the existing legislation.
“This has the potential to fundamentally change how project development happens at the…
Dany Assaf Says National Security Concerns Contributed to Blocked Aecon Deal
Partner Dany Assaf has told CBC On The Money host Peter Armstrong Ottawa’s decision to block the takeover of Canadian construction company Aecon by a Chinese company was “unexpected but not surprising.”
Talking live on the program , Dany delves into some of the possible reasons why the deal was blocked, saying national security and the shift of economic power may have contributed to the decision
“Everyone wants to take a look at deals for national security concerns,” Dany said.
“There is no doubt, there is more uncertainty today and that’s caused by a couple of different factors.
“One of the factors is you do have this shift of economic power from west to east.
“You’re also dealing with technology and the digital age where security concerns are more sophisticated, they’re more subtle,…
Final Bail-In Regulations and Related Guidelines Published
On April 18, the Government of Canada published final regulations under the Canada Deposit Insurance Corporation Act (CDIC Act) and the Bank Act. These regulations provide details of the bank recapitalization (bail-in) conversion, issuance and compensation regime relating to bail-in instruments issued by domestic systemically important banks (D-SIBs) (collectively referred to as the Bail-In Regulations). Our earlier bulletin "Government of Canada Publishes Bail-In Regulations" provides a more detailed discussion of the substance of the Bail-In Regulations.1
What You Need To Know
The Issuance Regulations were revised to add a new section prohibiting advertising or otherwise promoting bail-in eligible liabilities to purchasers in Canada as deposits
The Conversion Regulations were revised to clarify that any bail-in eligible…