Canada's increasing use of international trade sanctions has led to complex compliance issues for companies operating abroad. Two recent cases highlight the challenges of delisting from sanctions: former Haitian Prime Minister Laurent Salvador Lamothe and Russian Formula 1 driver Dmitry Mazepin have both filed for judicial review in the Federal Court of Canada. Lamothe argues that his inclusion on the sanctions list violates procedural fairness, while Mazepin contends that his listing is unjustified and based solely on his familial connection to a close associate of Vladimir Putin. Both cases underscore the opaque nature of Canada's sanctions process compared to other countries like the UK and the US.

The Canada Business Corporations Act (CBCA) was amended to require federally incorporated companies to maintain a register of individuals with significant control (ISCs) to combat financial crimes. Effective January 22, 2024, certain CBCA companies must file ISC information with Corporations Canada. Bill C-42, currently before the Senate, may further mandate public disclosure of some ISC information. Non-compliance could result in fines, sanctions, or dissolution of the corporation. Companies should prepare for these changes and inform their ISCs accordingly.

Canada's increasing use of international trade sanctions has led to complex compliance issues for companies operating abroad. Two recent cases highlight the challenges of delisting from sanctions: former Haitian Prime Minister Laurent Salvador Lamothe's judicial review application in the Federal Court of Canada, and Russian Formula 1 driver Dmitry Mazepin's similar legal challenge. Both cases underscore the opaque nature of Canada's sanctions process, contrasting it with more transparent systems in the UK and the US. The article emphasizes the difficulties individuals face in challenging their inclusion on sanctions lists due to the lack of access to the reasons behind such decisions.

Significant amendments to the Special Economic Measures Act (SEMA) in Canada have introduced a new deemed control provision, altering the notion of ownership in Canadian sanctions. The amendments define ownership as including entities controlled directly or indirectly by a person, setting a 50% ownership threshold and criteria for control over an entity's board of directors. The changes aim to clarify control in sanctions but create uncertainties and diverge from the practices of Canada's allies. The amendments also include a foreign state exemption and similar changes to related acts, with further consultations ongoing.

Significant amendments to the Special Economic Measures Act (SEMA) in Canada introduce a new deemed control provision, altering the concept of ownership in Canadian sanctions. The amendments define deemed ownership and set criteria for control, including a 50% ownership threshold, the ability to change the composition of a board, and de facto control. The changes aim to clarify control but may create uncertainties and diverge from the practices of Canada's allies. The amendments also include a foreign state exemption and similar changes to related acts, impacting compliance and reporting obligations.

The Canada Business Corporations Act (CBCA) was amended in June 2019 to require federally incorporated companies to maintain a register of individuals with significant control (ISCs), including personal and control details. The amendments aim to combat financial crimes. New regulations came into force on May 4, 2023, providing clarity on identifying ISCs. Starting January 22, 2024, certain CBCA companies must file ISC information with Corporations Canada. Bill C-42, if passed, will make some ISC information public and grant Corporations Canada additional enforcement powers. CBCA companies are advised to continue identifying ISCs and prepare for the filing requirements and potential public disclosure.

The Canadian Securities Administrators (CSA) have proposed amendments to enhance diversity, board renewal, and board nominations in corporate governance. The amendments include two versions of Form 58–101 F1 and NP 58–201, with differing approaches to diversity disclosure. Form A focuses on women's representation, while Form B mandates disclosure on historically underrepresented groups. The proposed changes aim to increase transparency, provide decision-useful information to investors, and guide issuers on diversity practices. The amendments reflect growing market expectations for diversity and the potential consequences for companies failing to address diversity adequately.

Cardiovascular diseases are the leading cause of death in Venezuela, and the construction of specialized centers like the Montalbán Cardiological Hospital is crucial. Announced by President Hugo Chávez in 2007, the hospital is now nine years behind schedule with no completion in sight. The project, which was supposed to provide 350 hospital beds and numerous medical facilities, has been marred by corruption, economic downturns, and mismanagement. The current state of the construction poses health risks to local residents, with a cement factory operating on the premises and mosquito breeding grounds nearby. The article calls for investigation and action against those responsible for the corruption that has hindered Venezuela's social welfare projects.