On August 9, 2017, the Government of Ontario released its report on financial services following the Red Tape Challenge. This report contains a number of recommendations and action items relating to Fintech:
… Continue Reading
- New flexible, innovative provincial financial services regulator – As previously announced, the Government of Ontario is proceeding with its plans to establish a new financial services regulator, the Financial Services Regulatory Authority of Ontario (“FSRA”), which is intended to be a “new, flexible and innovative financial services and pension regulator”, and which will replace existing provincial financial services regulators, including the Financial Services Commission of Ontario
On December 1st, the Ontario Government announced it was launching consultations seeking public input to identify any “unclear, outdated, redundant or unnecessarily costly” financial services or insurance regulation in Ontario, with the aim to modernize and improve such regulation and achieve a regulatory regime that supports innovation and growth, while at the same time protecting the public interest. These consultations specifically include the following:
- Provincial credit union legislation
- Provincial mortgage brokering legislation
- Provincial loan and trust corporations legislation
- Provincial insurance legislation
- the Financial Services Commission of Ontario (“FSCO”) Act.
The consultations come as Ontario is in the process … Continue Reading
The Ontario Court of Appeal has put to rest any notion that the practice of consultation between counsel and expert witnesses to review draft reports is improper. In its decision in Moore v. Getahun, 2015 ONCA 55 rendered on January 29, 2015, the Court explained that “banning undocumented discussions between counsel and expert witnesses or mandating disclosure of all written communications is unsupported by and contrary to existing authority”.
The Court observed that consultations between counsel and expert witnesses are essential to ensure that reports comply with the Rules of Civil Procedure and the rules of evidence, address relevant … Continue Reading