Blakes Weekly Digest | January 10, 2025
In this issue...
Quebec Court of Appeal Rules on the Limits of CPA Professional Secrecy for Financial Whistleblowing
Simon Seida, Philippe Dubois and Marc-André Otis (Articling Student)
On November 12, 2024, the Quebec Court of Appeal issued a significant decision in Autorité des marchés financiers c. Ordre des comptables professionnels agréés du Québec, overturning the trial judgment. It held that section 17.0.1 of Quebec’s Act respecting the regulation of the financial sector does not violate the right of CPAs’ clients to professional secrecy, which is a right protected by section 9 of Quebec’s Charter of Human Rights and Freedoms.
Canada Issues Finalized Clean Electricity Regulations
On December 17, 2024, the Government of Canada released the finalized Clean Electricity Regulations. A key component of Canada’s climate strategy, the regulations are designed to achieve a net-zero electricity grid by 2035 and contribute to economy-wide net-zero emissions by 2050. Significant updates since the initial comment period include revised emissions limits, compliance credit systems, and new opportunities for credit trading and pooling within federal and provincial frameworks.
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Alberta’s New Public Sector Privacy and Access to Information Legislation: What Businesses Need to Know
On December 4, 2024, Alberta passed two bills that replace the province’s Freedom of Information and Protection of Privacy Act with the new Protection of Privacy Act and Access to Information Act. This is the province’s first major update to its privacy and access to information regime in 30 years. The new legislation introduces mandatory breach reporting for public bodies, new penalties for public employee misuse of personal information, and new powers to help public bodies manage access to information requests.
Private M&A: Year in Review and Outlook
Cheryl Satin and John-Paul Bogden
Looking back on 2024 in private M&A, several notable trends stand out. In a year generally marked by caution in dealmaking, the Canadian market saw heightened regulatory scrutiny, the growth of private capital financing and the effects of a mature representation and warranty insurance industry.
We’ve distilled these trends and explained why many observers are optimistic about private dealmaking in 2025.