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The Reporter provides a monthly summary of Canadian federal legislative and regulatory developments of relevance to federally regulated financial institutions. It does not address Canadian provincial financial services legislative and regulatory developments. In addition, purely technical and administrative changes (such as changes to reporting forms) are not covered. May 2026 Published Title and Brief Summary Status (if applicable) Office of the Superintendent of Financial Institutions (OSFI) May 21, 2026 Draft…

The Reporter provides a monthly summary of Canadian federal legislative and regulatory developments of relevance to federally regulated financial institutions. It does not address Canadian provincial financial services legislative and regulatory developments. In addition, purely technical and administrative changes (such as changes to reporting forms) are not covered. June 2026 Published Title and Brief Summary Status (if applicable) Office of the Superintendent of Financial Institutions (OSFI) June 25, 2026 Streamlined…

In Alberta (Energy and Minerals) v Spartan Delta Corp,1 the Court of Appeal held that Alberta Energy’s claims for both pre-filing and post-filing royalty arrears under leases sold subject to a CCAA vesting order were barred by operation of the joint, but not several, liability created under the Mines and Minerals Act, RSA 2000, c M-17 (MMA) and the wording of the vesting order. Spartan has important implications and provides…

On Sept. 14, 2025, the Canadian government launched Build Canada Homes, a new federal agency designed to increase Canada’s housing supply by building affordable housing at scale. Build Canada Homes will work with provinces, territories, municipalities and Indigenous communities to build affordable community housing for low-income households, while also partnering with private developers to deliver affordable housing for middle-class Canadians. The federal government introduced Bill C-20, the Build Canada Homes…

Two recent Ontario employment law decisions, Baker v. Van Dolder’s Home Team Inc., 2025 ONSC 952, and Li v. Wayfair Canada ULC, 2025 ONSC 2959, have renewed scrutiny of termination provisions that limit employees to minimum statutory entitlements under the Employment Standards Act, 2000 (the ESA). Although both cases address “ESA only” drafting, the lower courts had reached opposing conclusions. Both appeals were argued on March 25, 2026, and the Court…

Alberta has emerged as one of Canada’s most proactive jurisdictions for the development of large‑scale data centres, particularly those supporting artificial intelligence (AI). Through a combination of targeted legislation, intergovernmental coordination, and policy direction to energy regulators, the province has adopted a regulatory approach that departs in important respects from the traditional treatment of large industrial electricity loads. Key takeaways for proponents Alberta is modernizing its regulatory framework to accelerate…

British Columbia recently introduced legislative amendments that will restrict the electrical capacity available for new data centre projects within the Province. As of Feb. 1, 2026, the allocation of new electrical capacity for data centre purposes in British Columbia is subject to system-wide aggregate limits that are allocated under a competitive process administered by the British Columbia Hydro and Power Authority (BC Hydro). As outlined below, these limits are both…

In Ontario, Canada’s most populous province, the development and connection process for data centres is driven by Ontario-specific electricity rules and institutions. Grid access and connection obligations are governed primarily by the Electricity Act, 1998,1 the Ontario Energy Board’s (OEB) Transmission System Code2 (TSC) and Distribution System Code3 (DSC), and the Independent Electricity System Operator’s (IESO) connection approval and market participation requirements. Recent policy initiatives, such as Bill 40, signal increasing scrutiny…

Since 2016, Québec has actively positioned itself as a prime destination for data centres, leveraging its abundant renewable energy, competitive electricity rates, and ambition to strengthen digital sovereignty. Supported by a government-owned utility that controls electricity generation, transmission and distribution, the province offered a compelling value proposition: low-cost power and a naturally cold climate that reduces cooling costs. This strategy has been successful. The number of data centres has grown…

The Canadian Investment Regulatory Organization (CIRO) has published rule amendments to harmonize advisor compensation (the Amendments). Following CIRO’s 2024 position paper that consulted on three potential regulatory approaches to allow payment of advisor compensation to advisor-owned corporations for all CIRO-regulated dealer members (Dealers), the Amendments propose to adopt the Incorporated Approved Person compensation option. In a material shift from the 2024 proposals, under the proposed Amendments, both ancillary activities and…

Artificial intelligence has entered a new phase in Canadian health care. BLG recently hosted health care leaders, hospital representatives, technology companies, and industry stakeholders at its Artificial Intelligence in Canadian Health Care Symposium in Toronto. Discussions throughout the symposium revealed a clear shift in how health care organizations are thinking about AI. A year ago, many conversations focused on experimentation and use cases. As of 2026, attention is increasingly turning…

In McCarthy v. Bison Transport Inc., 2026 ONSC 3729, the Ontario Superior Court of Justice upheld a termination for just cause arising from an employee’s second failed drug test. The decision highlights the importance of clear workplace policies, consistent enforcement, and the limits of the duty to accommodate in the absence of an actual or perceived substance-dependency disability. Key takeaways for employers on just cause dismissal McCarthy v. Bison Transport…

In Democracy Watch v. Canada (Attorney General), the Supreme Court of Canada confirmed that the Constitution guarantees the availability of a legality review for all aspects of an administrative decision. Privative clauses purporting to oust the courts from this supervisory role are unconstitutional. The Supreme Court held that general political oversight of the Conflict of Interest and Ethics Commissioner (the Commissioner) by Parliament does not provide an adequate alternative remedy…

The Canadian Securities Administrators (CSA) published Staff Notice 33-322 – Review of Registered Firms’ Cybersecurity Practices and Additional Guidance (the Staff Notice) on July 15, 2026, following a focused review of 73 registered firms’ cybersecurity practices. The message is not especially surprising: cybersecurity is a core business risk, and registered firms are expected to have practical, documented and regularly refreshed controls that fit their size, complexity and operations. Practical takeaways Right-size your…

Court-appointed receivers, monitors and trustees play a central role in Canadian insolvency proceedings. As officers of the court, they are expected to act independently and impartially, and in accordance with their statutory and court-ordered duties. Given this role, a recurring question in Alberta insolvency practice is whether parties may cross-examine a court officer on the contents of a report. There is a clear general principle in Alberta: receivers, monitors and…

“Anyone, anyone?” Mr. Lorensax, the Economics Teacher On July 20, 2026, the president of the United States signed three proclamations covering motor vehicles, alcoholic beverages and dairy, imposing additional 50 per cent tariffs on Canadian goods said to account for roughly US$20 billion in annual imports. Although there is some question about exactly how many of the listed products Canada exports into the United States, and how much, if we…

NOTE: For a print-friendly version of this document that includes visuals and tables, please download and print the .pdf file. Canada’s clean economy investment tax credits (ITCs) constitute a major tax policy expenditure supporting Canada’s efforts to achieve a net-carbon-zero economy by 2050. These ITCs, which are explained and summarized here, are often a critical element in the financial viability of many carbon capture, energy generation, battery storage and other…

On July 22, 2026, the Canadian Investment Regulatory Organization (CIRO) released its enforcement report for the 2026 fiscal year, from April 1, 2025, to March 31, 2026 (the Report), which can be found here. The Report covers enforcement activities and priorities for both investment and mutual fund dealers over the past year and notes that most integration priorities have now been completed. CIRO “continues to modernize its regulatory approach by…

On June 3, 2026, the House of Commons completed second reading of Bill C-31, Budget 2025 Implementation Act, No. 2 (Bill C-31) which will now proceed to study in the Standing Senate Committee on National Finance. Alongside numerous policy changes to Canada’s defence procurement strategy, Bill C-31 includes amendments to the Defence Production Act, RSC 1985, c D-1 (the DPA).1 The tabled amendments to the DPA reflect Canada’s prioritization of…

On July 17, 2026, the Supreme Court of Canada released its long-awaited decision in Pharmascience Inc. v. Janssen Inc., 2026 SCC 26, providing the most significant guidance in decades on the patentability of methods of medical treatment in Canada. While the Court ultimately upheld Janssen's patent, which the Court characterized as being for dosing regimens for formulations used to treat schizophrenia, the broader significance of the decision lies in its…

Nearly four years after enacting the Prohibition on the Purchase of Residential Property by Non-Canadians Act (the Act), banning foreign buyers in Canada’s housing market, the federal government is now weighing options to relax restrictions as the Act’s expiry looms. While the Carney government has maintained the previous administration’s decision to extend the prohibition through 2026, it has also signalled a desire to re-open the market to foreign investment in…

Québec’s 2026–2050 Integrated Energy Resource Management Plan (PGIRE) is the province’s first fully integrated long-term energy planning framework. It was adopted following a multi‑year legislative, regulatory, and consultation process initiated in 2024–2025 and seeks to operationalize the provincial government’s new statutory mandate to coordinate energy policy, system planning, and decarbonization objectives under a single governance instrument. Key highlights Total additional investments by 2050: approximately 87 billion dollars (real, 2024) to…

The Canadian Investment Regulatory Organization (CIRO) has published its 2027 Annual Priorities, emphasizing completion of integration initiatives and continued advancement of its broader strategic objectives. Key priorities include: finalizing a harmonized rulebook for investment dealers and mutual fund dealers; completing CE harmonization; advancing adviser compensation reforms by consulting on and finalizing rule amendments relating to an incorporated adviser compensation option to submit to the Canadian Securities Administrators (CSA) for review…

On June 8, 2026, the Financial Services Regulatory Authority of Ontario (FSRA) issued its Operational Risk and Resilience Guidance (PC0050APP) for Ontario-incorporated insurance companies and reciprocal insurance exchanges (collectively, Ontario insurers). The guidance, which sits under FSRA’s Risk-Based Supervisory Framework (RBSF-I), marks an escalation in supervisory focus on cyber threats, data vulnerabilities, third-party dependencies, and climate exposure. While adoption of the guidance’s principles is not mandatory, FSRA has indicated that an…

The Independent Electricity System Operator (IESO) is shaking up the requirements under Window 2 of its Long-Term 2 (LT2) Request for Proposals. Recent engagement sessions signal several important developments for proponents, including expanded eligibility for repowered facilities, potential increases to proposal fees, the possibility for domestic content commitments, and being required to be in “good standing.” While subject to change, the IESO expects to publish draft RFPs and contracts in…

From time to time, a veterinarian may receive notification of a complaint from the College of Veterinarians of Ontario (CVO) on behalf of a client. Under the Veterinarians Act (Act), the CVO is responsible for receiving, investigating, and acting on complaints made against veterinarians, whether they practise in a veterinary clinic, mobile practice, or provide care for farm animals. For a veterinarian, receiving a complaint can be stressful, but a…

Sweeping changes have been proposed to Canadian securities law that would allow selective buybacks, enhance disclosure requirements, update the early warning system, and amend exemptions from takeover bid and issuer bid regimes (collectively, the Proposed Amendments). This development marks a shift by the Canadian Securities Administrators (CSA) towards providing issuers with greater flexibility, improving transparency, reducing regulatory burden, and enhancing the integrity of the issuer bid, takeover bid, and early…

Artificial intelligence is no longer a future-state issue: it's operating inside Canadian businesses already, and the legal and operational landscape surrounding AI in the workplace is moving faster than most governance frameworks can keep pace with. On June 1, 2026, BLG's Labour and Employment lawyers gathered coast to coast to work through four areas that demand immediate attention: The evolving legislative landscape around AI; The risks of uncontrolled early adoption; The…

The Reporter provides a monthly summary of Canadian federal legislative and regulatory developments of relevance to federally regulated financial institutions. It does not address Canadian provincial financial services legislative and regulatory developments. In addition, purely technical and administrative changes (such as changes to reporting forms) are not covered. April 2026 Published Title and Brief Summary Status (if applicable) Office of the Superintendent of Financial Institutions (OSFI) April 21, 2026 Streamlined…

The Canadian Construction Documents Committee (CCDC) recently released a new collection of contracts, including the CCDC 32 – Progressive Design-Build Contract. This eagerly awaited template contract presents the CCDC’s view of a progressive design-build model (PDB) and makes using a PDB delivery model more widely accessible to the industry. In this article we discuss PBD and the CCDC 32, including its benefits and challenges. Overall, the new CCDC 32 provides…

In Resler v. Anglin, 2026 SCC 23, the Supreme Court of Canada held that an unsuccessful provincial election candidate may continue his civil action in misfeasance in public office against Alberta’s Chief Electoral Officer (CEO) for alleged bad faith conduct during an election campaign. The Court confirmed that such claims were not barred by the doctrine of collateral attack, abuse of process, parliamentary privilege, or a statutory immunity clause, given…

The International Chamber of Commerce (ICC) has introduced a revised set of Arbitration Rules, effective for arbitrations commenced on or after June 1, 2026 (the 2026 Rules).  These revisions build on the 2021 framework while introducing targeted reforms aimed at addressing concerns around cost, delay, and procedural rigidity. While the overall structure of ICC arbitration remains familiar, the 2026 Rules reflect a clear recalibration: a move away from formalistic procedural…

Le 12 juin 2026, la Cour suprême du Canada a rendu sa décision dans l’affaire Société de l’Acadie du Nouveau-Brunswick c. Canada (Premier ministre), 2026 CSC 22, confirmant que le lieutenant-gouverneur du Nouveau-Brunswick (N.-B.) doit être fonctionnellement bilingue. Dans cette décision, la Cour a dû interpréter le paragraphe 16(2) de la Charte canadienne des droits et libertés, qui prévoit que le français et l’anglais sont les langues officielles du N.-B.…

Toronto Tech Week 2026 provided a clear view into how Canada’s technology ecosystem is evolving across the full company lifecycle, from early formation to scale and exit. Key takeaways from the week Documentation quality is now a differentiator at pre-seed and seed - clean cap tables and properly assigned IP materially affect a company's ability to close. Defence-adjacent and applied AI opportunities arrive with complex IP, export control and contracting…

What Canadian companies need to know (if enacted): Bill C-34 is broader than previously proposed online safety legislation and targets regulated social media services, certain online services, and AI chatbot services, with a focus on protecting children and supporting victims of online harms. Regulated services, as applicable, have a duty to act responsibly, a duty to protect children, a duty to be transparent, and a duty to make certain content…

On June 1, 2026, the Registered Insurance Brokers of Ontario (RIBO) released Guidance 006 – Online Conduct (Social Media and Review Manipulation) (Guidance). This article summarizes the key expectations and practical implications for brokerages. Scope of guidance The Guidance confirms that brokers’ online activities are subject to the same professional standards as their offline conduct. The Guidance applies to public-facing digital activity connected to insurance brokering, including social media posts,…

Trademark scams are becoming increasingly common in Canada. Both the Canadian Intellectual Property Office (CIPO) and the College of Patent Agents and Trademark Agents (CPATA) have warned that business owners and trademark holders are being targeted by phishing emails, calls, and texts from people pretending to be intellectual property lawyers, agents, service providers, or even CIPO itself. These messages often use details taken from public records, create urgency, and pressure…

Canada’s release of its national artificial intelligence strategy, AI for All, marks a substantive shift in federal policy, signalling how the government intends to govern AI for the foreseeable future. The strategy’s most significant feature is what it is not: as previously announced, it does not revive the Artificial Intelligence and Data Act (AIDA), the proposed omnibus AI statute that stalled in Parliament and was effectively abandoned following the change…

In Intact Insurance Company v. Edward Collins Contracting Limited, 2026 NLSC 49, the Supreme Court of Newfoundland and Labrador dismissed an application to strike a surety’s claim under an indemnity agreement, confirming that releases granted in Companies’ Creditors Arrangement Act (CCAA) proceedings do not automatically extinguish independent contractual obligations of indemnitors. Case summary: Intact v. Collins Contracting (2026 NLSC 49) Background: surety claim and CCAA release defence The plaintiff (Intact)…

In J.C. et al. v. Jugenburg et al., 2026 ONSC 3061, the court found that a plastic surgeon breached his duties to patients and intruded on their privacy by installing surveillance cameras throughout his clinic. This is the first time a court has found that recording footage alone, even if it was not viewed or shared, can result in liability for the tort of intrusion upon seclusion. The court awarded…