Wednesday, August 13, 2008

Anti Trust Investigations Irk Corporate Lawyers

From The Financial Post

An independent report released yesterday exonerates the Competition Bureau for resorting to the use of secret hearings before a judge to obtain sweeping disclosure orders.

Now on the surface this looks like a wake up call to Canadians to see the government's use of closed hearings as investigative tools as a threat to the public. However, the reality is that in order to protect the public from anti-competitive and possibly illegal business deals we need our regulators to have unrestricted access to the facts and records of corporate mergers.

Canada's Anti-Trust legislation is laughably weak in comparison to the US and IMO the US is the best model when it comes to effective legislation in this area.

However it seems that Private Lawyers of the CBA (Canadian Bar Assn.) feel slighted....

"The bar wasn't fully consulted," James Musgrove of the CBA said. He criticized Mr. Gover for suggesting in his report that the competition bar has issues with "existence of the section 11 power."

Yeah Sure!

And maybe we should be asking your permission to investigate you and your clients before hand?

Oh! Wait a minute! THAT IS what the CBA is saying!

How dare they force lawyers and corporations to comply with laws!


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