The Government of Canada recently introduced Part 1 of the budget implementation bill, which completed its second reading before the House of Commons and has been referred to the Standing Committee on Finance. The Bill proposes novel amendments, including “deemed ownership” provisions to the Special Economic Measures Act and the Justice for Victims of Corrupt Foreign Officials Act and it demonstrates that the Government intends to rely on existing anti-money laundering enforcement regimes to eliminate sanctions circumvention and enforce sanctions compliance. Additionally, the Bill seeks to expand the Government’s authority to prohibit activities with specific persons under the SEMA.
This article provides an overview of the global rise in human and labor rights legislation linked to trade measures. In particular, it examines: Canada’s efforts to enforce the existing import prohibitions on goods mined or manufactured with forced labor under the Customs Tariff; compliance under the recently passed Bill S-211, Fighting Against Forced Labour and Child Labour in Supply Chains Act and to amend the Customs Tariff which comes into force on 1 January 2024; and the need for Canadian businesses to develop compliance measures on the import prohibition under the Customs Tariff, the new reporting requirements under Bill S-211, and the importance of continuing enterprise and supply chain scrutiny.
On 13 April 2023, the Canadian Securities Administrators (CSA) published a request for comments due by 12 July 2023. The CSA proposes two approaches to enhance the disclosure requirements of non-venture issuers that were previously adopted by most CSA jurisdictions in 2014 regarding corporate governance practices pertaining to board nomination, board renewal and diversity on boards and in executive officer positions. The proposals are designed to increase transparency about diversity and to provide investors with useful information to better understand how diversity is addressed by an issuer. The CSA has also requested comments on adapting similar diversity disclosure requirements to venture issuers in the future.
With a surge in layoffs taking place over the past year, many of those originally hired to diversify the workplace have been impacted, and studies show that inclusion, diversity and equity (ID&E) professionals have been affected by layoffs at a higher rate than others. The harm? Other than potentially hurting employee morale and sidelining efforts to improve ID&E in the workplace, employers risk exposing themselves to litigation.
Join us for a four-part webinar series as our US moderators welcome colleagues from around the globe to share the latest labor and employment law updates and trends. US-based multinational employers with business operations in Asia Pacific, Europe, the Middle East and Africa, and the Americas regions will hear directly from local practitioners on the major developments they need to know, and come away with practical tips and takeaways to implement.
The United States-Mexico-Canada Agreement went into force on 1 July 2020, replacing the North America Free Trade Agreement to support mutually beneficial trade between the parties. In this video, Baker McKenzie lawyers from each country share their reflections and the insights they’ve gained during the almost three years since the USMCA took effect.
On 28 March 2023, Canada’s Minister of Finance tabled budget materials that propose significant changes to Canada’s General Anti-Avoidance Rule. These changes will create substantial uncertainty, increase companies’ tax risk, and add turbulence to the Canadian tax disputes landscape.