Finance Law and Banking Law

The Office of the Superintendent of Financial Institutions (OSFI) published its third quarterly release of the year on September 10, 2026, noting that the targeted adjustments made to its guidance were made with a view to supporting a resilient and competitive Canadian financial system.

La troisième publication trimestrielle du BSIF de l'année est parue le 10 septembre 2026. Dans cette publication, le BSIF souligne que les ajustements ciblés apportés à ses lignes directrices visent à favoriser la résilience et la compétitivité au sein du système financier canadien.

This monthly summary tracks Canadian federal legislative and regulatory developments affecting federally regulated financial institutions, covering updates from OSFI, FINTRAC, Payments Canada...

The Canadian investment fund industry is regulated by, among other things, a number of National Instruments. The Investment Fund Rules Book, prepared by members of BLG's Investment Management Group, incorporates the most commonly used national instruments and policies affecting investment funds and their managers, and includes all amendments to the various National Instruments that came into force as of July 1, 2026. It does not reflect other amendments that have been proposed but are not yet in force on the date of publication.

GP stakes transactions—namely, minority investments by third-party investors in a private asset manager—were once viewed primarily as a founder liquidity tool. The market, however, has evolved well beyond that original story, with these transactions increasingly framed as strategic partnerships rather than mere financing events.

Le 29 juillet 2026, l'OCRI et les ACVM ont publié l'Avis conjoint 81-339 concernant les pratiques sectorielles à l'égard des fonds négociés en bourse à l'étranger. Cet avis traite des obligations de prospectus et d'inscription pour les gestionnaires de FNB étrangers, ainsi que des obligations de connaissance du produit, du client et de détermination de la convenance pour les courtiers. Les gestionnaires et courtiers doivent maintenant évaluer leurs pratiques

Private equity sponsors are increasingly using continuation vehicles to extend ownership of high-conviction assets while providing liquidity options to existing investors. This comprehensive analysis examines the strategic considerations, structural mechanics, and critical risk factors that sponsors, limited partners, and new investors must navigate when evaluating continuation vehicles as an alternative to traditional exit strategies.

Project finance raises long-term debt and equity against the project's assets and future cash flows rather than against sponsor balance sheets. Lenders will not commit capital...

Infrastructure projects delivered through collaborative models like alliances and IPD face a fundamental challenge: reconciling shared-risk governance with traditional project finance requirements. This analysis examines practical financing structures—from progressive P3s and government backstops to catalytic capital and holdco arrangements—that bridge the gap between collaborative delivery principles and lender bankability expectations.

Fraudulent investment schemes often promise unusually high returns with little apparent risk. For a period of time, the promoter may make regular payments to investors and describe those payments as interest, profits, commissions, or investment returns.

Section 160 of the Income Tax Act (ITA) is one of the most potent collection tools available to the Canada Revenue Agency (CRA). While most tax liabilities are personal to the individual who earned the income, section 160 creates a form of “derivative” or secondary liability.

Our tax law firm recently closed a matter in which a client came to us after discovering that a CRA tax debt believed to be long settled was still showing up as an active court judgment on the client’s credit report. The judgment was standing in the way of a financing transaction, and the client needed documented proof, quickly, that the underlying tax debt had actually been paid.