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September 27, 2021

VACCINATIONS MANDATORY IN SOME SECTORS

Now that COVID-19 vaccines are widely available across Canada, many employers are considering whether to make the vaccination mandatory for employees, says a Norton Rose Fulbright Canada ‘Legal Update.’ As it currently stands, the federal and provincial governments have not made COVID-19 vaccination mandatory for all employees; however, certain jurisdictions have mandated vaccination policies for workers in specific fields. The federal government requires all federal public servants to be fully vaccinated by the end of September 2021. In addition, it will require employees in the federally regulated air, rail, and marine transportation sectors to be vaccinated by the end of October 2021. Ontario has issued a directive mandating hospitals, home, and community care service providers to have a COVID-19 vaccination policy. In British Columbia, it will be mandatory for all long-term care and assisted living workers The city of Toronto, ON, requires all of its employees to confirm their vaccination status and provide proof of vaccination. Employees who fail to show proof of vaccination are required to attend mandatory education on the benefits of vaccination and receive their first dose of the vaccine. Saskatchewan will require all employees of to be  fully vaccinated by October 1. Employers adopting mandatory COVID-19 vaccination in the workplace must keep in mind health and safety, privacy, collective agreement terms, and human rights in implementing any mandatory vaccination policy as well as consider whether individual employees may require accommodation based on a protected ground pursuant to human rights legislation. Overall, it does appear there is a growing trend toward implementing vaccination policies in the workplace, it says. Employers looking to implement such a policy should keep in mind that there is no ‘one-size-fits-all’ approach to vaccination policies and as such it is recommended that employers obtain legal advice before implementing one.

September 27, 2021

TRUSTWORTHY AI COMES WITH CHALLENGES

Governments, financial regulators, and firms should step up their efforts to work together to address the challenges of developing and deploying trustworthy artificial intelligence (AI) in the financial sector, says an OECD report. The ‘OECD Business and Finance Outlook 2021’ says that investment in AI finance is on the rise and the financial and insurance sector has consistently been within the top 10 industries in terms of the amount of venture capital investments in AI start-ups, investing over $4 billion worldwide in 2020. Almost 65 per cent of investments in the sector went to American AI start-ups. It says AI has the potential to facilitate transactions, enhance market efficiency, reinforce financial stability, promote greater financial inclusion, and improve customer experience. But it also raises unique challenges to privacy, autonomy, transparency, and accountability and existing financial regulations may fall short of addressing systemic risks presented by wide-scale adoption of AI-based FinTech by financial firms.

September 27, 2021

ONTARIO TEACHERS’ ACQUIRES MORTGAGE BANK

The Ontario Teachers’ Pension Plan Board will acquire HomeQ Corporation, the parent company of HomeEquity Bank, from Birch Hill Equity Partners Management Inc. and the other minority shareholders of HomeQ. HomeEquity Bank offers reverse mortgage solutions including the flagship CHIP Reverse Mortgage. It has a 30-year track record of helping Canadians 55 and older age stay in place by accessing the equity in their homes. The bank is well positioned for sustained growth as more Canadians near retirement age and seek innovative solutions to create income and build wealth.

September 27, 2021

FINANCIALS OFFERS OPPORTUNITIES FOR GROWTH

The financials and energy sectors offer the best growth investment opportunities for investors in the year ahead, says research from blockchain-based derivatives trading platform CloseCross. Its study among professional investors around the world responsible for around $380 billion in assets under management found widespread disagreement on which sectors offer the best and worst growth opportunities for the next 12 months. More than half (52.5 per cent) of investors rated the financials sector as offering the best growth opportunities while 36.6 per cent said it offered the worst. For the energy sector around 45.5 per cent rated it as offering strong opportunities while 27.7 per cent said it was the worst. However, both sectors emerged with a net positive score along with information technology, healthcare, and communication services.

September 27, 2021

KURULIAK HEADS PROTEUS

He has spent the last 20 years with the firm as a strategic contributor to its business and development and a leader within the firm. Proteus’ founder Peter Henry and Gord Lewis, its president for the past two years, remain part of the senior team and transition into new roles that will support Kuruliak and his management team.

September 27, 2021

SHAREHOLDER ENG