Wendy Berman and Jonathan Wansbrough were part of The Law
Reviews' Expert Panel 2015 and their Canada chapter in The
International Investigations Review has now been
Contributors to this series are carefully selected local experts
in their field of practice and the collection aims to put together
accessible insights into different areas of law in the most
significant jurisdictions worldwide.
Here are five reminders from the authors of things you should be
Corporations, and their directors and
officers, face a dense enforcement mosaic and increasing
cooperation globally amongst law enforcement and regulatory
authorities. Defending allegations of wrongdoing requires
navigating a complex labyrinth of potential liability and strategic
During a criminal and quasi-criminal
investigation, law enforcement agencies may exercise a range of
powers, including searching corporate offices, searching and
seizing electronic and other documents, and even engaging in
electronic surveillance through the use of wiretaps.
In certain circumstances, Canadian
authorities may assume jurisdiction over corporate misconduct
occurring entirely outside the country.
Canadian authorities are increasingly
following the lead of their US counterparts and turning to
whistleblowers as a source of tips of potential wrongdoing. In
addition to whistleblower protection, regulators, such as the
Ontario Securities Commission and the Canada Revenue Agency, have
even implemented programs to financially reward whistleblowers
whose tips result in successful prosecutions.
Over the last few years, Canada has
demonstrated a continued commitment to prosecuting both individuals
and corporations for corporate criminal misconduct. We can
expect to see more high profile charges for foreign and domestic
corruption and securities law violations in the future.
For a better understanding of Canada's enforcement regime
and ways to proactively avoid escalating internal and external
investigation costs, reputational damage and massive fines
read the full chapter here.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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Under the Income Tax Act, the Employment Insurance Act, and the Excise Tax Act, a director of a corporation is jointly and severally liable for a corporation's failure to deduct and remit source deductions or GST.
While most are well aware that the sale of a business is generally a complex process, even sophisticated business owners are surprised by just how much cost and effort is required to complete the sale.
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