A licensed corporation, registered institution, licensed individual, substantial shareholder of a licensed corporation, corporate licence applicant or an individual licence applicant can apply to the SFC to have certain sections of the Securities and Futures Ordinance (SFO) or any provision of rules made by the SFC modified or waived under the SFO according to section 134 of the SFO ...
The countdown has begun! Have the governance rules for your pension committee been set out in an internal by-law? If not, there’s no time to lose! The deadline is December 13, 2007.SourceIn Quebec, billions of dollars are managed by pension committees ...
TABLE OF CONTENTSI. INTRODUCTIONII. WHAT ARE THE FACTORS DRIVING A RISING NUMBER OF CLASS ACTIONS IN THE PENSION CONTEXTIII KEY ELEMENTS OF THE CLASS PROCEEDING AND WHAT MAKES IT A SUITABLE VEHICLE FOR PENSION ACTIONSA. How Class Actions WorkB. Expansion of Class Actions in Canada1. Availability of Class Actions2. Advantage of Class Actions3. Class Proceeding Not the Only Way to Pursue Pension Related ClaimsIV. KEY ELEMENTS OF A CLASS PROCEEDING1. Filing2. Certification3 ...
In Hungary, Act XXXIII of 1995 on the Protection of Inventions by Patents (the “Patent Act”) is the key piece of legislation in respect of inventions created in employment relationships. The Act differentiates between employees’ inventions and service inventions in its provisions applicable to this domain ...
On April 25, 2007 the BC Government introduced Bill 31: the Human Rights Code (Mandatory Retirement Elimination) Amendment Act, 2007. Once the amendments are in force, the changes to the legislation are to be effective January 1, 2008.Currently, the BC Human Rights Code defines “age” as being an age of 19 years or more and less than 65 years. Following the amendment, “age” will be defined as being an age of 19 years or more ...
The Employment (Amendment) Bill 2006 (the "Bill") was gazetted on 8 December 2006 and was read in the Legislation Council for the first time on 20 December 2006. The Bill proposes that commission be expressly included in the calculation of certain statutory payments under the Employment Ordinance (“EO”) ...
The Court of Final Appeal recently made a ruling in Poon Chau Nam v. Yim Siu Cheung t/a Yat Cheung Air-conditioning & Electric Co. casting light on determining whether a worker should be treated as an employee or an independent contractor under the Employees Compensation Ordinance ("ECO").This is an appeal case from the District Court and the Court of Appeal. The appellant worker suffered personal injury in a work-related accident at a building ...
First conviction on offence to make false or misleading statement to claim MPF benefitsAccording to section 43E of the Mandatory Provident Fund Schemes Ordinance ("MPFSO"), a person who, in any document given to the MPFA, an approved trustee or an auditor of an approved trustee or of a registered scheme in connection with the MPFSO, makes a statement that the person knows to be false or misleading in a material respect, or recklessly makes a statement which is false or mislea
The Labour Law of the People's Republic of China ("PRC") came into effect on 1 January 1995. The PRC Labour Law sets out the basic legal framework for the administration of employment/labour relationships and is applicable to all labour/employment contracts entered into between a PRC entity (including any foreign invested company) as employer and an individual as employee rendering services in the PRC ...
The financial services industry recently witnessed a plethora of competition investigations. The banking sector, in particular, has attracted the attention of competition watchdogs in an increasingly complex regulatory environment. Following an 18-month European sector enquiry, UK banks seem to have largely escaped the danger of significant enforcement actions, except possibly in relation to credit cards ...
The U.S. Department of Justice’s revised corporate charging policy, which was named after deputy attorney general Paul McNulty, was unveiled in December 2006. In the wake of its predecessor document, the 2003 Thompson Memo, we have seen a steady increase in the resolution of corporate criminal investigations without indictments or trials ...
On January 22, 2007, the Commission des lésions professionnelles (the “Board”) handed down a decision in Harvey et Brasserie Labatt ltée(1) further to a motion for revocation filed by the employer against a decision rendered by a first commissioner ...
According to the Equal Opportunities Commission, 52% of men and 48% of women say they want to work more flexibly and 6.5 million people in the UK could be using their skills more fully if greater flexible working was available. The suggestion is that rigid models of work are driving highly qualified workers into jobs below their skill level in order for them to have a life outside of work ...
The Supreme Court of Canada recently handed down a highly anticipated judgment in McGill University Health Centre (Montreal General Hospital) (the “MUHC”) vs. Syndicat des employés de l’Hôpital Général de Montréal (2007 SCC 4) ...
"Outsourcing" is defined as an event in which the regulated financial services firm (the "outsourcing entity"), contracts with a service provider to perform any aspect of the outsourcing entity's regulated or unregulated functions that could otherwise be undertaken by the entity itself. The service provider may be a related party within a corporate group, or an unrelated third party entity ...
A Chinese commercial bank recently launched an investment product under the Qualified Domestic Institutional Investors scheme (QDII) which takes in Renminbi funds from mainland investors and invests in offshore equity funds, fixed income instruments and money market products denominated in foreign currencies. This is an important breakthrough as previously QDII products from banks only invested in fixed income instruments ...
Advocate General Sharpston has recently expressed her opinion in the Commission v Republic of Finland case that ensuring a sufficient degree of transparency for the award of sub-threshold procurements should be determined by national law, rather than Community law. If these views were to be followed by the ECJ, it would provide renewed impetus to create national rules on low value awards and represent a meaningful evolution of the ECJ's past case law ...
In our July 2006 legal update, we reported on a ground-breaking agreement (Agreement) signed by the Hong Kong and Mainland China Governments, under which they agreed to recognise and enforce judgments made in each others courts. Legislative changes are now underway in Hong Kong in order to implement the Agreement ...
This paper was prepared for the Pacific Business & Law Institute's 12th Annual Conference on The Essential Tasks of Pension and Benefit Plan Trustees, held in Vancouver, British Columbia on February 20, 2007 Most lawyers are familiar with claims for coverage under disability insurance ...
On November 30, 2006, the Human Rights Tribunal of Quebec released a judgment in which it concluded that a grievance arbitrator did not have jurisdiction over litigation stemming from allegations of employment discrimination. In the case of Commission des droits de la personne et des droits de la jeunesse v ...
The countdown towards implementation of the Markets in Financial Instruments Directive (MiFID) is well underway. The Directive, which replaces the existing Investment Services Directive, is due to come into force across the European Union by 1 November 2007. Member States are required to have the necessary enabling legislation and regulatory rules in final form by 31 January ...
Do you offer your employees group insurance? If so, since January 1, 2007, under the Act respecting prescription drug insurance, you must deduct directly from the remuneration paid to each of your employees his or her portion of the premium applicable to the basic prescription drug insurance coverage stipulated in the group insurance contract.The Act respecting prescription drug insurance (R.S.Q., c. A-29 ...
The BC Privacy Commissioner recently issued two decisions which address “employee personal information”, as well as some other issues of interest under the BC Personal Information Protection Act (“PIPA”) ...
