![Drug manufacturing laboratory equipment](https://www.nortonrosefulbright.com/-/media/images/nrf/thought-leadership/canada/publications/life-sciences-healthcare-lab-equipment.jpg?w=265&revision=355955d3-b814-40be-80c7-63b3ad62cb43&revision=5248910870347387904&hash=1F3BEDB56F2489EB29C4E2FCBDED3656)
Publication
Health Canada identifies lithium-ion batteries, infant bath seats, and water beads as hazards of concern
Health Canada has recently identified three new classes of products that pose a hazard of concern.
United Kingdom | Publication | April 2020
COVID-19 has impacted the lives of every individual across the country. It is critical that firms are able to continue to treat customers fairly during this challenging time and it is also more likely that customers will become vulnerable as the crisis unfolds meaning certain customers require greater support than others.
There have been various support packages announced by the Government along with associated guidance from the regulator to set expectations as to how this should be achieved in practice. It is possible that these expectations will evolve as the crisis unfolds, therefore firms will need to be agile over the coming period having regard to regulatory expectation and actual customer outcomes.
The Financial Conduct Authority has published various guidance for lenders, the key points of which are:
The guidance for mortgage lenders came into effect on 20 March 2020 and the regulator has committed to reviewing the impact it has had in three months and may issue amended guidance following this review.
The guidance for consumer credit lenders and in respect of overdrafts came into effect during April 2020.
We have summarised below the key forbearance guidance issued by the regulator across key lending products to date. The regulator has committed to reviewing the impact these have had over the next three months and further announcements may be made as the COVID-19 pandemic evolves.
In scope of guidance (as at April 17, 2020) | Notes | |
---|---|---|
Mortgages |
✓ |
|
Arranged overdrafts |
✓ |
|
Personal loans |
✓ |
|
Guarantor loans |
✓ |
|
Logbook loans |
✓ |
|
Regulated credit union loans |
✓ |
|
Regulated CDFI loans1 |
✓ |
|
Credit cards and store cards |
✓ |
|
Catalogue credit |
✓ | |
Home-collected credit |
✓ | |
Buy-now pay-later (BNPL) |
✓ |
|
Hire purchase (inc. motor finance) |
✓ |
|
High-cost short-term credit |
✓ |
|
Pawnbroking |
✓ |
|
Peer-to-peer |
x |
|
Premium finance | x |
Publication
Health Canada has recently identified three new classes of products that pose a hazard of concern.
Publication
An employer’s ability to ask for a sick note when an employee is absent from work due to illness is becoming increasingly curtailed across Canada.
Publication
Since 2022, the Government of Canada has introduced three waves of amendments to the Competition Act (Act), making substantive changes to Canada’s competition laws, with the most recent amendments receiving royal assent on June 20, 2024.
Subscribe and stay up to date with the latest legal news, information and events . . .
© Norton Rose Fulbright LLP 2023