Our Blog


  • CORPORATE GOVERNANCE – Interesting Examples of Self- Assessments - Self-evaluations are now seen in other forum and make useful points of comparison for anyone undertaking a comprehensive look at this vital area. In 2006, the OSC drafted NI 81-107 – Independent Review Committee for Investment Funds.  The National Instrument sets out a comprehensive code of the Independent Review Committee’s role and functions and includes […]
  • CORPORATE GOVERNANCE – How to create the questionnaire -           While it is now accepted practice that companies should undertake a self-evaluation, there has been a tendency to develop a questionnaire and to leave it unaltered year on year.  This has led to the concern that it has become a “tick the box” exercise and a less than useful one for the directors, the […]
  • CORPORATE GOVERNANCE – Board self- evaluations. - This week’s blogs will focus on board self-evaluations; their genesis, their usefulness and evolution, the proliferation of reviews now undertaken by other groups (such as Independent Review Committees) and the new standard being put forward by various regulators such as OSFI and the OSC’s notice 58-306, the 2010 Corporate Governance Disclosure Compliance Review.  It is […]
  • MINING LAW – Keeping current - The mining industry is as vibrant as ever with commodity prices bouncing all over the place, both in the precious and base metals sectors and with companies reacting and dealing with the startling increase in the costs of operating around the world.  Against this backdrop, countries (and provinces/states within countries) are busy changing the laws […]
  • EMPLOYMENT MATTERS – AGF and the Emerging Market Team Defendants. - A couple of weeks ago, AGF launched a lawsuit against the Emerging Market team that left AGF in April 2012, the Dallas-based wealth management company that they went to work for and the recruiting firm that allegedly “lifted the team out”.  (http://www.theglobeandmail.com/globe-investor/funds-and-etfs/funds/agf-alleges-unlawful-conspiracy-in-suit/article4468532/ ).  That initial volley was covered by most of the business commentators across […]
  • BANK REGULATORY – Lessons for Standard Chartered Bank and for others - Rahm Emanuel, the former Chief of Staff to President Obama, is famous for many things during his tenure in the White House.  One of them is his unforgettable saying “you never want a serious crisis to go to waste”.  (http://www.youtube.com/watch?v=1yeA_kHHLow ).  Mr. Emanuel went on to explain that a crisis allows an institution to do […]
  • BANK REGULATORY – Settlement Achieved - As we anticipated in our earlier blogs, Standard Chartered Bank settled the case today, one day before Wednesday’s hearing.    The early disclosure concerning the settlement sets a civil penalty of $340 M.  This penalty seems rather light in face of what the New York Banking regulator had described as violations involving $250B of Iranian transactions.  […]
  • BANK REGULATORY – The tone sounds like a settlement - Following on yesterday’s blog about Standard Chartered Bank (SCB) and its travails with the New York state Banking regulator, the signals are all toward a speedy settlement.  This strategy is consistent with and follows in the footsteps of much larger institutions which have run afoul of regulatory authorities including among others, JPMorgan Chase & Co., […]
  • BANK REGULATORY – Standard Chartered Bank, the saga continues but the tone is changing. - Standard Chartered Bank seems to have realized that tone is vital if one wants to settle a huge regulatory crisis.  SCB is said to have agreed to a compliance monitor to ensure that the transactions conducted by the bank are compliant with U.S. anti-money laundering laws.  Although this compliance monitor has yet to be named […]
  • Update: BANK REGULATORY – Standard Chartered Bank and the New York State Bank regulator - The facts surrounding the Order issued by the New York state banking regulator, Benjamin Lawsky, is being analyzed on both sides of the Atlantic.  There appears to have been a loophole in the US banking law until 2008 which facilitated certain transactions with Iranian banks.  That loophole is discussed in today’s New York times.  http://mobile.nytimes.com/2012/08/09/business/how-a-lax-banking-law-obscured-money-flow.xml  […]