A closer look at the Report on Common Property, Land Titles, and Fundamental Changes for Stratas: Should the Strata Property Act continue to require a resolution passed by a unanimous vote to authorize changing the basis on which a strata lot’s share of the contribution to the strata’s operating fund and contingency reserve fund is calculated?

This post is part of a series highlighting key recommendations in the Report on Common Property, Land Titles, and Fundamental Changes for Stratas. For other entries in the series, click here. Brief description of the issue The general rule for strata corporations is to calculate a strata lot’s share of the contribution to a strata’s operating fund and its contingency reserve fund on the basis of the strata lot’s unit entitlement. The act allows for some Read more…

Finding similarities and differences in Finnish and British Columbian legal systems

From May 28 to June 12, 2019, the Canadian Centre for Elder Law was pleased to host visiting scholar Katja Karjalainen, LL.D. from the University of Eastern Finland. In the blog post that follows she discusses her experiences as she begins the comparison of our two jurisdictions’ approach to what we know in BC as enduring powers of attorney and representation agreements made under s. 7 of the Representation Agreement Act. I am employed by Read more…

First Canadian Seniors’ Complaints Report: OBSI

On July 18, 2019, the Ombudsman for Banking Services and Investments (OBSI) issued its first 2019 Seniors Report. Survey data gathered between 2017 and 2018 from over 1,400 case files highlights some of the unique challenges faced by seniors when accessing financial services and products. According to its news release, “Older Canadians experience different challenges with the financial services they use than younger Canadians.” Raising awareness of seniors’ issues is considered by OBSI to be Read more…

Locked-in retirement accounts the focus of July 2019 Pension Division Review Project Committee meeting

At this month’s meeting, the Pension Division Review Project Committee examined locked-in retirement accounts. British Columbia’s Pension Benefits Standards Act defines locked-in retirement account to mean “an RRSP that is prescribed to be a locked-in retirement account.” The regulation completes this definition by adding that “an RRSP is a locked-in retirement account if the RRSP includes locked-in money.” Locked-in retirement accounts are commonly created when an employee, who was a member of an employer’s pension plan, ceases Read more…

Results of IIROC National Survey Calls for More Protection for Vulnerable Investors

On June 21, 2019, the Investment Industry Regulatory Organization of Canada (IIROC) published the results of its national survey, Awareness and Attitudes Related to Provisions to Protect Vulnerable Investors and Investment Firms/Advisors: Presentation of Key Findings. Survey data gathered between March 7th and 14th, 2019 from 1,000 Canadian investors covered a range of topics including awareness of regulatory tools and resources on available protection measures, uptake on the use of a trusted contact person, and Read more…