This week, we learn what’s new in foreign investment law, featuring lawyer and best-selling author, Dany Assaf. Topics: critical mineral investments; the National Security Review of Investments Modernization Act; and voluntary notifications. This program contains 30 minutes of substantive content for the Law Society of Ontario’s CPD requirements.
Full Episode (55:30) Download Transcript
⚫ How is the federal government changing its approach regarding acquisitions of control of Canadian mineral businesses? (10:00)
⚫ How could a new bill strike a balance between welcoming investment and safeguarding national security interests? (19:02)
⚫ Why would foreign investors voluntarily notify the government about investments that could raise national security concerns? (28:16)
⚫ Our Ask-Me-Anything segment, featuring questions submitted by patrons of the Lawyered community (36:42)
? How do you envision the partnership between government and business in unleashing the potential of Canada’s citizens? (37:22)
? What aspects should foreign investors consider when they are looking to navigate the cultural and regulatory nuances when conducting business in Canada? (42:21)
? Are there any specific strategies that you have found useful for foreign investors trying to affect policy change with the government? (43:48)
? Tell us about the role of ESG considerations in the evaluation of foreign investment proposals in Canada? (46:59)
? How important is it for foreign investment lawyers to have political acuity in their day-to-day work? (48:42)
1. Clamping Down on Critical Mineral Investments (12:39) Download
– Regarding Foreign Investments from State-Owned Enterprises in Critical Minerals under the Investment Canada Act (Innovation, Science and Economic Development Canada)
– Critical Minerals Centre of Excellence (Innovation, Science and Economic Development Canada)
2. Bill C-34 – The National Security Review of Investments Modernization Act (12:35) Download
– Bill C-34 – The National Security Review of Investments Modernization Act
– “Significant national security amendments coming to the Investment Canada Act – The National Security Review of Investments Modernization Act” (Torys – Dec 14, 2023)
3. Voluntary Notifications (11:47) Download
– Regulations Amending the National Security Review of Investments Regulations: SOR/2022-124 Canada Gazette, Part II, Volume 156, Number 13
– “Foreign investors can now notify voluntarily under Investment Canada Act national security regulations” (Torys – Aug 4, 2022)
4. Ask-Me-Anything: Foreign Investment Law (18:30) Download
? How do you envision the partnership between government and business in unleashing the potential of Canada’s citizens?
? What aspects should foreign investors consider when they are looking to navigate the cultural and regulatory nuances when conducting business in Canada?
? Are there any specific strategies that you have found useful for foreign investors trying to affect policy change with the government?
? Tell us about the role of ESG considerations in the evaluation of foreign investment proposals in Canada?
? How important is it for foreign investment lawyers to have political acuity in their day-to-day work?
About the Guest:
Dany Assaf is co-chair of the Competition and Foreign Investment Review Practice at Torys LLP where he advises international and domestic clients on all aspects of competition law and foreign investment matters, including in the area of national security reviews.
Dany is a globally recognized lawyer with deep and broad international business experience and has worked on some of the largest and most complex global and Canadian mergers and investigations over the last 25 years. Dany’s international business experience includes opening the first offices for a major Canadian law firm in the United Arab Emirates and Qatar. Dany also serves on the boards of Unity Health, the Canadian Race Relations Foundation, and Canada’s Sports Hall of Fame. Dany has also been involved in many community initiatives and projects over the years including being President of the Canadian Club of Toronto and an advocate for the No Fly List Kids project to name a few.
Dany is the author of an Amazon-best seller book called “Say Please and Thank You & Stand in Line: One man’s story of what makes Canada special, and how to keep it that way”. He is also the co-author of the recently published book called ‘Everybody’s Business: How to Ensure Canadian Prosperity through the 21st Century’ which draws on interviews with over 100 thought leaders, politicians, CEOs, union leaders to craft a new way of thinking about our national opportunities.
Dany’s Full Bio
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