Transactions

LSO Direction regarding Commissioning of Affidavits

  • March 17, 2020

Please note that as a result of COVID-19 the Law Society of Ontario will interpret the Commissioners for Taking Affidavits Act as not requiring the lawyer to be in the physical presence of the client. It is still important that lawyers commissioning an affidavit remotely manage the risks appropriately. This includes taking appropriate measures to guard against fraud; identity theft; undue influence; duress; capacity; the ability of the client to retain a copy of the commissioned affidavit and ensuring that the client does not feel that they did not have an adequate opportunity to ask questions or request clarifying information about the documents they have executed.

LSO Direction regarding remote client identification

  • March 18, 2020

Please note that as a result of COVID-19 the Law Society of Ontario has provided pertinent information lawyers should consider when identifying and verifying client identity and whether this can be done remotely and/or virtually. Chief is for lawyers to consider whether they are identifying or verifying a client’s identity.

OSC waiving all late fees between April 17 and June 1

  • April 17, 2020

The Ontario Securities Commission (OSC) announced that it will be providing temporary relief to market participants by waiving all late fees that accumulate between April 17, 2020 and June 1, 2020. Entities subject to fees under Part 4 of OSC Rule 13-502 Fees are not included in the relief as they will not accumulate late fees during this relief period.