On March 17, 2014, the federal government introduced two new
regulations under Canada's Special Economic Measures
Act imposing an asset freeze on senior government officials
and other individuals and entities in Russia and Crimea in
connection with the recent developments in Crimea. On March 18 and
21, the federal government amended these regulations to designate
additional names, including one Russian bank. The Special
Economic Measures (Russia) Regulations and the Special
Economic Measures (Ukraine) Regulations (New Regulations),
together with the subsequent amendments, came into force
immediately. The New Regulations follow the designation of certain
members of the former Ukrainian government under the Freezing Assets of Corrupt Foreign Officials
(Ukraine) Regulations on March 5, 2014.
Similar to the March 5, 2014 Regulations, the New Regulations
apply to every person in Canada and every Canadian outside Canada
dealing in any property, wherever situated, held by or on
behalf of any person designated under the New Regulations;
entering into or facilitating, directly or indirectly, any
transaction related to such dealing;
making any goods, wherever situated, available to a designated
providing any financial or related service to or for the
benefit of a designated person or in respect of a dealing in the
property of a designated person.
The New Regulations also prohibit anything that is intended or
causes, assists or promotes the contravention of the prohibitions
under the New Regulations.
Regulated financial institutions are required to determine, on a
continuing basis, whether they are in possession or control of
property that they have reason to believe is the property of a
All businesses are required to disclose without delay to the
Royal Canadian Mounted Police property reasonably believed to be
that of a designated person under the New Regulations, together
with information about any related transaction. Financial
institutions are not required to separately report their search
results under New Regulations to their principal regulator.
Please join members of the Blakes Commercial Real Estate group as they discuss five key provisions of a commercial real estate purchase agreement that are often the subject of much negotiation but are sometimes misunderstood.
Emotional culture is influenced in great part by the mindset and actions of leadership, although employees also play more of a role than they may realize in creating the culture that exists in the group.
The session will be led by Dr. Robert Brooks, an award-winning author and psychologist. In his presentation, Dr. Brooks will describe the mindset and realistic practices of leaders and staff that help to nurture and sustain a culture characterized by positive emotions, satisfying, respectful relationships, a sense of meaning and ownership for one’s work, and enhanced job performance. Examples will be offered to illustrate strategies for developing a positive emotional culture in an organization.
Join leading lawyers from the Blakes Pensions, Benefits & Executive Compensation group as they discuss recent updates and legal developments in pension and employee benefits law as well as strategies to identify and minimize common risks.
The Canadian Office of the Superintendent of Financial Institutions ("OSFI") recently ruled that a bank cannot promote comprehensive credit insurance ("CCI") within its Canadian branches under the Insurance Business (Banks and Bank Holdings Companies) Regulations (the "Regulations").
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