Borden Ladner Gervais LLP, one of Canada’s preeminent law firms, recently published a report on the top 10 legal risks businesses may face in 2016. Learning what these risks are can help companies identify key trends and regulatory changes that could have serious legal implications for their business. Five of the major risks identified include the following:
Climate Change: In order to combat climate change, there will likely be significant changes to Canada’s energy systems, with a heavier focus on green energy sources expected. As such, businesses will need to be aware of potential green initiatives in order to navigate complicated policies.
Increased Tax Scrutiny: As the demand for greater tax transparency continues, businesses will need to be mindful as Canadian tax authorities pursue non-privileged information.
Electronic Payment Fraud: With the increasing popularity of electronic payment methods, the need for effective policies and procedures to mitigate the risk of fraud has never been greater.
Trade Agreements: The Trans-Pacific Partnership (TPP) and the Comprehensive Economic and Trade Agreement (CETA) are primed to have a serious impact on Canadian businesses. The report says it’s important for companies to get a head start in investigating potential risks associated with these agreements.
Anti-spam Law: Canada’s anti-spam legislation (CASL) creates regulations around unsolicited commercial electronic messages, unauthorized commercial installation and use of computer programs, and other forms of online fraud. If these regulations aren’t properly followed, companies could face serious penalties.
For more information and to read about all of potential 2016 legal risks, click here.
Posted in Business Insurance