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Companies could face hefty fines under new Canadian privacy law – CBC.ca

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The federal government is threatening to impose fines that could run to millions of dollars on private companies that violate Canadians’ privacy.

Innovation Minister Navdeep Bains introduced the Digital Charter Implementation Act today — officially called an “Act to enact the Consumer Privacy Protection Act and the Personal Information and Data Protection Tribunal Act and to make consequential and related amendments to other Acts.” It represents one of the biggest shakeups in Canada’s privacy law in decades. 

If the bill passes, companies could face fines of up to five per cent of global revenue or $25 million — whichever is greater — for the most serious offences. Bains said the legislation provides for the heaviest fines among the G7 nations’ privacy laws.

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“The fines are there to provide accountability,” Bains told reporters.

The legislation also would give the federal privacy commissioner order-making powers — something Privacy Commissioner Daniel Therrien has long asked for — including the ability to force an organization to comply and to order a company to stop collecting data or using personal information.

Bains said the commissioner also would be able to recommend fines to a new Personal Information and Data Protection Tribunal, which would levy administrative monetary penalties and hear appeals of orders issued under the new law.

According to the wording of a government press release, the legislation also would give Canadians the option of demanding that their personal online information be “destroyed”.

Consent rules

The federal government has been signalling a more user-friendly system since it first floated the idea of a digital charter.

if the draft legislation passes, companies would have to obtain consent from customers through plain language — not a long, jargon-filled legal document — before using their personal data.

The Canadian Internet Registration Authority, the not-for-profit agency that manages the .ca internet domain, praised the new bill.

WATCH | Bains explains how fines would be laid if companies contravene the new privacy legislation 

Innovation Minister Navdeep Bains tabled new privacy legislation today in the Commons. 1:25

“Trust is critical to the digital economy, and central to a well-functioning internet. Canadians must be able to trust that their personal data will be protected and not abused,” said CIRA president Byron Holland in a media statement.

“Companies that handle massive troves of personal data must be held accountable for protecting that data, be transparent about how they use it and face real consequences should they break the trust of their users.”

Conservative MP James Cumming, the party’s innovation, science and industry critic, said that if the Liberals truly cared about Canadians privacy rights they’d ban the Chinese telecom giant Huawei from operating in Canada.

“While other countries have taken decisive action to stand up for the privacy of their citizens and banned Huawei, the Trudeau Liberals have failed to make a decision and stand up for the privacy of Canadians. There is no excuse for this delay by the Trudeau government,” he wrote in a statement.

“When it comes to Liberal legislation, the devil is always in the details. Conservatives will review the legislation to ensure that it protects privacy without imposing burdensome regulations on small businesses who are struggling to keep their doors open during the second wave of the pandemic.”

Canada already has two privacy laws. The Privacy Act covers government agencies and federally regulated industries, while the Personal Information Protection and Electronic Documents Act applies to private-sector organizations.

Statistics Canada said that about 57 per cent of Canadians online reported experiencing a cyber-security incident in 2018.

WATCH | Bains on Privacy Commissioner’s powers

Industry Minister Navdeep Bains explains the new powers of investigation that the Privacy Commissioner will have under the new Consumer Privacy Protection Act. 0:43

The bill is a “big win for privacy in Canada,” said Laura Tribe, executive director of OpenMedia, which has long pushed for stronger laws.

“For years, people have been calling on the government to increase protections for our digital privacy, to no avail,” she said.
“As a result, protecting the data and privacy of Canadians has been an afterthought for many companies, knowing that there were no meaningful penalties or consequences for bad behaviour.”

The group noted the legislation says consent is not required when an organization lacks a direct relationship with a person, which could water down the protections.  

The bill is a step in the right direction, said Jim Balsillie, founder of the Centre for Digital Rights. “However, what seems to be missing is a clear recognition of privacy as a fundamental human right.”

Increased bureaucracy

Goldy Hyder, president of the Business Council of Canada, said the legislative proposals set out clear rules to protect consumers, promote innovation and strengthen Canadians’ confidence in the emerging digital economy.

B.C.’s Information and Privacy Commissioner Michael McEvoy told CBC News that while the bill is a good start, he has issues with how it limits a privacy commissioner’s authority to recommending to a tribunal that a company be fined for breaching the law.

“It seems to me there is no reason why the commissioner shouldn’t have the power to administer those fines — subject, of course, to the courts,” he said.

McEvoy said that requiring a tribunal to review a commissioner’s recommendation to impose a fine adds an extra layer of bureaucracy that puts people one step further away from getting justice.

He said he likes the provision in the proposed law that would require privacy companies to state in plain and easy-to-understand language how they collect information and how they use it.

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Calgary breaks all-time record in housing starts but increasing demand keeps inventory low – CBC.ca

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Soaring housing demands in Calgary led to an all-time record for new residential builds last year, but inventory levels of completed and unsold units remained low due to demand outpacing supply.

According to the latest report from Canada Mortgage and Housing Corporation (CMHC), total housing starts increased by 13 per cent in Calgary, reaching a total of 19,579 units with growth across all dwelling types in the city.

That compares to a decline of 0.5 per cent overall for housing starts in the six major Canadian cities surveyed by CMHC.

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Calgary also had the highest housing starts by population.

“Part of the reason why we think that might have happened is that developers are responding to low vacancies in the rental market,” said Adebola Omosola, a housing economics specialist with CMHC.

“The population of Calgary is still growing, a record number of people moved here last year, and we still expect that to remain at least in the short term.”

Earlier this year, the Calgary Real Estate Board also predicted that demand, especially for rental apartments, wouldn’t let up any time soon. 

Industry can cope with demand, expert says

According to numbers from the report, average construction times were higher in 2023 for all dwelling types except for apartments.

The agency’s report suggests the increase in the number of under-construction residential projects might mean builders are operating at or near full capacity.

However, there’s optimism the construction industry can match the increasing need.

Brian Hahn, CEO of BILD Calgary Region, said despite concerns around about construction costs, project timelines and labour shortages, the industry has kept up with the demand for new builds.

Demand is expected to remain robust, but the construction industry can keep up, according to BILD Calgary region CEO Brian Hahn.
Demand is expected to remain robust, but the construction industry can keep up, according to BILD Calgary Region chief executive officer Brian Hahn. (Shaun Best/Reuters)

“I’ve heard that kind of conversation at the end of 2022 and I heard it in 2023,” Hahn said.

“Yet here we are early in 2024, and January and February were record numbers again.”

Hahn added he believes the current pace of construction will continue for at least the next six months and that the industry is looking at initiatives to attract more people to the trades.

Increase in row house and apartment construction

Construction growth was largely driven by new apartment projects, making up almost half of the housing starts in Calgary in 2023.

The federal housing agency says 9,034 apartment units were started that year, an increase of 17 per cent from the previous year. Of those, about 54 per cent were purpose-built rentals.

Apartments made up around two-thirds of all units under construction, CMHC said, with the total number of units under construction reaching 23,473.

Growth, however, was seen across all dwelling types. Row homes increased by 34 per cent from the previous year while groundbreaking on single-detached homes grew by two per cent.

“Notwithstanding challenges, our members and the industry counterparts that support them managed to produce a record amount of starts and completions,” Hahn said.

“I have little doubt that the industry will do their very best to keep pace at those levels.”

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Ottawa real estate: House starts down, apartments up in 2023 – CTV News Ottawa

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Rental housing dominated construction in Ottawa last year, according to a new report from the Canada Mortgage and Housing Corporation (CMHC).

Residential construction declined significantly in 2023, with housing starts dropping to 9,245 units, a 19.5 per cent decline from the record high observed in 2022. But while single-detached and row housing starts fell compared to 2022, new construction for rental units and condominiums rose.

“There’s been a shift toward rental construction over the past two years. Rental housing starts made up nearly one third of total starts in 2023, close to double the average of the previous five years,” the report stated.

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Apartment starts reached their highest level since the 1970s.

“The trend toward rental and condominium apartment construction follows increased demand in these market segments due to population growth, households looking for affordable options, and some seniors downsizing to smaller units,” the CMHC said.

Demand from international migration and students, the high cost of home ownership, and people moving to Ottawa from other parts of Ontario were the main drivers for rental housing starts in 2023. The CMHC says rental and condominium apartment starts made up 63 per cent of total starts in 2023, compared to the average of 37 per cent for the period 2018-2022.

There was a modest increase in rental housing starts in 2023 over the record-high seen the year prior and a jump in new condominiums. The report shows 5,846 new apartments were built in Ottawa last year, up 2.1 per cent compared to 2022.

Housing starts in Ottawa by year. (CMHC)

Big demand for condos

The CMHC said condo starts reached a new high in 2023, increasing 3 per cent from 2022 numbers.

“As of the end of 2023, there were only 13 completed and unsold condominium units, highlighting continued demand for new units,” the CMHC said.

Condominum starts increased in areas such as Chinatown, Hintonburg, Vanier and Alta Vista, as well as some suburban areas like Kanata, Stittsville, and western Orléans. Condo apartment construction declined in denser parts of the city like downtown, Lowertown and Centretown, the report says.

Taller buildings are also becoming more common, as the cranes dotting the skyline can attest. The CMHC notes that buildings with more than 20 storeys accounted for nearly 10 per cent of apartment structure starts in 2022 and 2023, compared to an average of 2 per cent over the 2017-2021 period. The number of units per building also rose 7 per cent compared to 2022.

Apartment building heights in Ottawa by year. (CMHC)

Single-detached home construction down significantly

The number of new single-detached homes built in Ottawa last year was the lowest level seen in the city since the mid 1990s, CMHC said.

“The Ottawa area experienced a slowdown in residential construction in 2023, driven by a significant decline in single-detached and row housing starts,” the CMHC said.

Single-detached housing starts were down 45 per cent compared to 2022. Row house starts dropped by 38 per cent compared to 2022, marking a third year of declines in a row.

“Demand for single-detached and row houses also declined in 2023. Higher mortgage rates and home prices have led to a shift in demand toward more affordable rental and condominium units,” the report said.

There were 1,535 single-detached housing starts in Ottawa last year, 208 new semi-detached homes and 1,678 new row houses.

The majority of single-detached and row housing starts were built in suburban communities such as Barrhaven, Stittsville, Kanata, Orléans and rural parts of the city.

“Increased construction costs resulting from higher financing rates and inflation that occurred in 2022 and 2023 contributed to the decline in construction in the region,” the CMHC said. 

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Trump’s media company ticker leads to fleeting windfall for some investors

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A man looks at a screen that displays trading information about shares of Truth Social and Trump Media & Technology Group, outside the Nasdaq Market site in New York City, U.S., March 26.Brendan McDermid/Reuters

Possible confusion over the new stock symbol for former President Donald Trump’s Truth Social (DJT-Q) saw some investor brokerage balances briefly jump by hundreds of thousands of dollars on Tuesday, the first day Trump’s “DJT” ticker traded.

Several people complained on social media about briefly seeing the value of their DJT stock holdings on Charles Schwab platforms inflated to figures more in line with what they would be worth if the shares traded at the level of the Dow Jones Transportation Average.

Some users said they faced a similar issue in pre-market hours on Morgan Stanley’s E*Trade trading platform.

Shares of Trump Media & Technology Group opened Tuesday at $70.90, while the Dow Jones Transportation Average started the session at 15,937.73 points.

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For one trader, the Schwab brokerage balance jumped by more than $1 million due to the error, according to a screen grab shared on social media platform X. Reuters was unable to contact the trader or independently verify the brokerage balance.

“It sure was nice seeing millions in the account, even if it wasn’t real,” another person, going by the username @DanielBenjamin8, who faced the issue in his E*Trade account, posted on X.

Two X users and one on Reddit surmised that the inflated balances were due to the ticker symbol for the company being nearly identical to the index.

A spokeswoman for Charles Schwab said that certain users on some of Schwab’s trading platforms saw their brokerage balances briefly inflated due to a technical issue.

The issue has been resolved and investors are able to trade equities and options on Schwab platforms, she said. Schwab declined to describe the exact cause of the issue.

E*Trade did not immediately respond to a request for comment outside of regular business hours.

Trump Media & Technology Group and S&P Dow Jones Indices, which maintains the Dow Jones Transportation Average Index, did not immediately comment on the issue.

While social media users said the issue appeared to have been resolved, many rued not being able to cash out their supposed gains from the error.

“I better go tell my boss that I’m actually not retiring,” the trader whose account balance had briefly jump by more than $1 million, wrote on X.

Trump Media & Technology Group shares surged more than 36% on Tuesday in their debut on the Nasdaq that comes more than two years since its merger with a blank-check firm was announced.

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