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Private Equity Outlook for 2024, Our Top Three Predictions for Startups This Year, Modern Slavery Legislation, and More in Timely Topics – February 2024

Timely Topics with McCarthy Tétrault curates the latest market trends on a monthly basis to help you stay informed of developments that can affect your business. This content is current as of February 7th 2024, but please connect with us if you have any questions on any of the topics below.

Here are this month’s trending topics:

 

1) Private Equity

On Target: 2024 Private Equity Outlook

Despite inflation and high interest rates persisting in 2023, the last year was an active one for private equity players in Canada. What’s ahead for 2024?

McCarthy Tétrault’s Outlook series provides insights into the most important changes across Canada’s economy in six key sectors. This in-depth report on Private Equity closely analyzes the sector’s key developments so sophisticated investors can navigate uncertain markets and creatively deploy capital to maximize return.

Read On Target: 2024 Private Equity Outlook

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Visit our Private Equity & Investment page to learn more about our national, multidisciplinary team of private equity experts.

2) Competition/Antitrust & Foreign Investment Outlook 

Competition/Antitrust & Foreign Investment Outlook 2024

Competition legislative reform dominated the 2023 policy agenda, with amendments to the Competition Act adopted just before year-end, and additional sweeping changes to the Competition Act and the Investment Canada Act’s national security regime currently before Parliament.

The year ahead promises to be just as eventful, with important developments affecting businesses and consumers across the country.

Read our Competition/Antitrust & Foreign Investment Outlook

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Contact any member of our Competition/Antitrust & Foreign Investment Group to learn more.

3) Tax

Tax Perspectives: Review of 2023 & 2024 Outlook

Throughout 2023, the Government of Canada continued its agenda of major tax reform, affecting the GAAR, clean economy tax credits, mandatory disclosure rules, and more. How will these new and proposed changes affect businesses this year?

McCarthy Tétrault’s Outlook series provides insights into the most important changes across Canada’s economy in six key sectors. This in-depth analysis of changes to Canada’s income tax regime will help businesses and tax advisors adapt and plan for the year ahead.

Read Tax Perspectives: Review of 2023 & 2024 Outlook

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Visit our Tax page to learn more about how our national tax team is helping businesses optimize their tax obligations.

4) Startups

Where is the startup ecosystem going in 2024? MT❯Ventures’ Three Predictions

MT❯Ventures, a division of McCarthy Tétrault, works with some of Canada’s most innovative startups and has a keen sense of what to expect for the sector in 2024. Read about their top three predictions, covering early-stage VC funds, M&A in the startup space, and the role of “hyperpersonalization”.

Read the predictions here

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MT❯Ventures provides strategic counsel and other critical services to startups. Contact Aliya Ramji to find out how we can help you sustain exceptional growth.

5) International Trade & Investment

Long-Awaited Guidance Released on Canada’s New Modern Slavery Legislation and its Reporting Requirements

Reporting obligations under Canada’s new Fighting Against Forced Labour and Child Labour in Supply Chains Act are now in force. Public Safety Canada has published a new website to provide guidance on this legislation. The website’s guidance is welcome; however, it also introduces a new and unique method for submitting relevant reports to stay compliant with the legislation, adding an additional layer of complexity to the process, and leaves a number of interpretive questions unanswered.

Read our analysis of the Supply Chains Act based on our work with a significant number of clients responding to the changes across different sectors of the economy.

Read the analysis here

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This analysis is part of a larger series on changes to Canadian supply chains legislation, which you can access through this article. To talk to us about how we can help your business respond to these developments, contact John Boscariol, Martha Harrison, Robert A. Glasgow or Gajan Sathananthan from our International Trade & Investment Group

6) Banking & Financial Services

Fintech Regulatory Developments: 2023 Year in Review

Last year saw significant development for Fintech regulations in Canada, including the much-anticipated finalization of the Retail Payment Activities Act, regulating payment service providers in Canada. Read our summary of this and other key regulatory updates in fintech and get a look at what’s on the horizon for 2024 and beyond.

Read the 2023 Year in Review here

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Fintech’s effect on traditional and digital banking continues to revolutionize the financial sector. Talk to one of the Co-Leaders of our Fintech Group, Ana Badour or Lori Stein, to find out how we can help you embrace this change.

7) Artificial Intelligence

Navigating the European Union’s Artificial Intelligence Act

The European Union is asserting its position as a global leader in technology regulation with a preliminary agreement reached in the European Parliament and Council of the European Union to create the Artificial Intelligence Act. The agreement seeks to balance protecting fundamental rights with innovation, and Canadian businesses using AI with an EU presence should begin assessing the risks and rewards of the new framework.

Read our in-depth analysis of the nascent regulatory scheme and be prepared for announcements regarding Canada’s own draft Artificial Intelligence and Data Act.

Read the full article here

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The recent developments in generative AI and deep learning have brought the technology to the fore once again. Contact Charles S. Morgan, Co-Lead of our Cyber/Data Group, to discuss the technology’s implications for your business.

This newsletter is designed to provide general information only. This newsletter does not provide legal advice on specific issues. You are encouraged to consult with legal counsel should you require assistance in addressing a particular issue or concern.

Tell us what you think! Do you have feedback for the Timely Topics newsletter or topics you’d like for us to explore? Let us know at [email protected].

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