The Transparency Tsunami
Date: November 12, 2019
Speaker: Fiona Hunter
Fiona Hunter was part of a team of three senior B.C. lawyers who drafted a response to the BC government’s request for consultation on a draft LOTA. Ms. Hunter has agreed to share her insights with the EPC. She presented a paper on LOTA at STEP’s 2019 Annual Conference. Ms. Hunter will give an overview of the Act and how it may affect the advice EPC members give to clients
The Transparency Tsunami - How transparency and privacy laws coming into force in 2020 impact estate planning. There is an increasingly crowded regulatory landscape of reporting obligations relating to financial and other interests globally. In Canada, the federal government has introduced new reporting requirements for federally owned companies and for trusts. In B.C., the government has introduced a variety of new rules for disclosure (including changes to the Corporations Act and the Property Transfer Act). It is also the first province to implement reporting requirements in relation to land ownership, in its Land Owner Transparency Act (LOTA). The statue will come into force in 2020 and will impact estate and business planning that involve nominee and trustee ownership.