Highlights

  • Canada has set a cap on study permit applications and requires a provincial attestation letter for processing.
  • Two substances have been removed from the Non-domestic Substances List, and six out of 12 assessed substances may be added to a concern list due to health risks.
  • New guidelines for antimony in drinking water have been established to protect against health effects.
  • Measures to support rural and remote access to communication services have been announced, including a new licensing framework and policy improvements for Indigenous access to spectrum resources.
  • Royal Bank of Canada is set to amalgamate with several financial entities following its acquisition of HSBC Bank Canada.
  • Various federal appointment opportunities are open, aiming for a merit-based and diverse selection process.
  • Credit Suisse AG’s Toronto Branch is seeking to release its assets in Canada, with a deadline for opposition.
  • KOHO Financial Inc. is applying to establish a new bank, with a period for objections to the application.

Recent Canadian Government Updates on Immigration, Environment, Health, Telecommunications, Finance, and Appointments

The Department of Citizenship and Immigration Canada has issued Ministerial Instructions for the processing of study permit applications by foreign nationals as part of the student class. These instructions require a provincial attestation letter from the province or territory where the applicant intends to study. The goal is to limit the number of study permit applications to 606,250 for one year, with certain categories of applications exempt from this cap. Applications without a provincial attestation letter will not be processed, and fees will be returned.

The Department of the Environment has amended the Non-domestic Substances List, removing two substances, and published an assessment of 12 substances in the Phenylpropanoids and Aldehydes Group. Six of these substances are not considered a risk to human health or the environment, while the other six may pose a risk to human health and are proposed to be added to a list of substances that are a concern under the Canadian Environmental Protection Act, 1999.

The Department of Health has released the final Guidelines for Canadian Drinking Water Quality for Antimony, setting a maximum acceptable concentration at 0.006 mg/L. This guideline is based on potential liver and gastrointestinal effects from oral exposure and is protective against health effects from lifetime exposure to antimony in drinking water.

Innovation, Science and Economic Development Canada has announced decisions to support rural and remote deployment in the Personal Communications Services and Cellular bands. This includes a new Access Licensing Framework and changes to subordinate licensing and white space policies. Additionally, a draft Indigenous Priority Window Spectrum Policy Framework has been published to improve Indigenous access to spectrum resources.

The Office of the Superintendent of Financial Institutions has issued letters patent of amalgamation and an order to commence and carry on business for the amalgamation of Royal Bank of Canada with several other financial entities, effective upon Royal Bank of Canada’s acquisition of HSBC Bank Canada.

Lastly, the Privy Council Office has advertised various appointment opportunities for positions in different organizations, emphasizing a merit-based, transparent process that reflects Canada’s diversity. [Source]

Credit Suisse Toronto Branch Asset Release and KOHO Financial’s New Bank Application

Credit Suisse AG’s Toronto Branch is planning to request authorization from the Superintendent of Financial Institutions to release its assets in Canada as per section 599 of the Bank Act. Depositors or creditors opposed to this release must submit their opposition by March 6, 2024.

KOHO Financial Inc. intends to apply for the establishment of a Schedule I bank named “KOHO Bank” in English and “Banque KOHO” in French. The proposed bank will offer banking services including deposit and lending products to Canadian residents. Objections to this application can be submitted to the Office of the Superintendent of Financial Institutions until April 18, 2024. Approval of the bank is subject to the standard review process and the discretion of the Minister of Finance. [Source]

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