Steve Szentesi – A Proposal to Amend the Competition Act Reference Section
From: Steve Szentesi To: The Hon. Navdeep Bains, Minister of Innovation, Science and Economic Development CC: John Pecman, Commissioner of Competition Date: March 28, 2017 RE: A Proposal to Amend the Competition Act Reference Section Despite being in force in one form or another for over a hundred years, Canadian competition law remains relatively underdeveloped compared to other […] Ware and Von Wartburg – Competition Policy Should Promote Competition
From: Roger Ware and Markus von Wartburg To: John Pecman, Commissioner of Competition; Navdeep Bains, Minister of Innovation, Science and Economic Development Cc: Brian Facey; Joshua Krane Date: March 27, 2017 Re: Competition Policy Should Promote Competition In their recent e-Brief Promoting Innovation and Efficiency by Streamlining Competition Reviews, Brian Facey and Joshua Krane (Facey […] Robert Mysicka – Challenge To Liquor Import Restrictions May Set “free Trade” Precedent In Constitutional Law
From: Robert Mysicka To: Provincial Premiers Date: March 16, 2017 Re: Challenge to Liquor Import Restrictions May Set “Free Trade” Precedent in Constitutional Law Liquor control laws across Canada could be shaken up by a successful constitutional challenge in New Brunswick which the province is now seeking to appeal at the Supreme Court of Canada. […] Promoting Innovation and Efficiency by Streamlining Competition Reviews
It is time for Ottawa to reform its merger review process to ensure that Canada is actively promoting efficiencies and innovation, according to a new C.D. Howe Institute report. In “Promoting Innovation and Efficiency by Streamlining Competition Reviews,” authors Brian Facey and Joshua Krane argue that merger review should support and encourage mergers that generate […] Smokes, Smugglers and Lost Tax Revenues: How Governments Should Respond
Provinces should fight contraband cigarettes with better policing, and reforming government allocation of cigarettes to Aboriginal reserves, rather than impose higher taxes, according to new report released by the C.D. Howe Institute. In “Smokes, Smugglers and Lost Tax Revenues: How Governments Should Respond,” author Anindya Sen analyzes trends in cigarette smuggling and the implications for […] Anindya Sen on BNN: Smokes, smugglers and lost tax revenues
Anindya Sen, economics professor at the University of Waterloo joins BNN to discuss his new report “Smokes, Smugglers & Lost Tax Revenues: How Governments should Respond.”
Benjamin Dachis – Don’t Send Waste Competition To The Dump
From: Benjamin Dachis To: Toronto Mayor John Tory and Toronto City Council Date: January 17, 2017 RE: Don’t Send Waste Competition to the Dump There’s a lot of trash talk happening at Toronto City Hall. The city currently has private contractors collecting household waste in the western half of the city. Toronto City Council will […] Konrad von Finckenstein – Bypassing Existing Legislation to Create Support for Canadian Content in a Digital World
From: Konrad von Finckenstein To: The Minister of Canadian Heritage Date: January 5, 2017 Re: Bypassing Existing Legislation to Create Support for Canadian Content in a Digital World Our present regime for regulating communications is based on three statutes stemming from the 80s when the concept of broadband was unheard of. Under those statutes the […] James M. Mabbutt – Consumer Protection, Banks and Federal Authority
From: James M. Mabbutt To: Finance Minister Morneau Date: December 21, 2016 Re: Consumer Protection, Banks and Federal Authority Your proposed budget implementation legislation (Bill C-29) set up a comprehensive consumer protection regime for bank customers. That regime represents yet another skirmish in the ongoing federal-provincial war for control over banks. I would like to […] Benjamin Dachis – The Good, The Bad, And The Ugly Of Ontario’s Electricity
From: Benjamin Dachis To: Minister Glenn Thibeault Date: December 15th, 2016 Re: The Good, the Bad, and the Ugly of Ontario’s Electricity You recently gave a speech in which you laid out your proposed direction for Ontario’s electricity sector. Like any change, the time will come one day for the inevitable showdown with those who […] Federal Pot Report Still Leaves a Lot of Haze in The Air: Financial Post Op-Ed
The federal government has just released the report of its special advisory task force on marijuana legalization. While the report lays out broad strokes, key decisions remain on retail distribution, legal age limit, and taxation that Ottawa and the provinces should agree on soon.
The report recommends that provinces be given the jurisdiction to determine the precise mechanism of retail distribution. However, the report has also recommended against allowing the sale of marijuana in stores that also offer liquor and/or cigarettes. This is consistent with my own study that was released by the C.D. Howe Institute, in which I recommended retail sales through stand-alone stores as opposed to government-owned retail…
InterOil-Exxon Precedent Delivers a Wake-Up Call on Fairness Opinions: Globe and Mail Op-Ed
Rare is the precedent-setting securities case that emerges from the Yukon Court of Appeal. The recent attempted arrangement between InterOil Corp. and Exxon Mobile Corp., however, has given rise to such a case. The decision contains a welcome judicial pronouncement on fairness opinions in the context of corporate mergers.
InterOil was set to merge with another corporation before Exxon came forward with a “white knight” offer. InterOil’s financial adviser, Morgan Stanley, provided it with a fairness opinion stating that the merger (which was structured as an arrangement) was fair from a financial point of view.
While fairness opinions are common in merger transactions, their purpose may be legitimately questioned. Should…