Canada: Finance and Banking

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.

Le 19 mars 2026, les Autorités canadiennes en valeurs mobilières (les « ACVM ») ont annoncé la mise en œuvre d’un projet pilote autorisant les émetteurs émergents admissibles...

Voluntary semi-annual financial reporting (SAR) for public companies in Canada is now live, at least for eligible venture issuers.

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.

Picture this: a borrower is relying on a revolving credit facility to meet working capital needs. Suddenly, it is told by its lender that a “material adverse event” has occurred, and the facility is now being frozen or called. What does this mean, and what can the borrower do?

In Heydary Green Professional Corporation v. The King, the Tax Court of Canada delivers a clear and uncompromising message: GST/HST bad debt deductions are not governed by flexibility, fairness, or practical difficulty—they are governed by strict statutory compliance.

When a property is subject to multiple mortgages, can a second mortgagee protect their priority position against further advances made on a first mortgage?

Assuming a mortgage in a real estate transaction can preserve favorable financing terms and avoid costs associated with obtaining new financing.

Assuming a mortgage loan in a real estate transaction can preserve favorable financing terms and avoid new loan costs, but the process involves critical considerations beyond simply taking over payments.

Canadian Governments Invest in Innovation, Talent and Domestic Competitiveness — Federal and provincial governments, frequently alongside private-sector partners, have introduced a series of new funding programs, capital sources and talent initiatives designed to support the retention and growth of technology, intellectual property and human capital in Canada. This edition's Market Insight is a summary of recent initiatives that are of particular relevance to companies, founders and investors operating in Canada’s innovation economy.

The CSA has finalized amendments to the “principal distributor” model that limit dealers to acting as principal distributor for a single mutual fund family, introduce new disclosure requirements...

On June 27, 2026, the Department of Finance published the proposed Consumer-Driven Banking Regulations(the “Regulations”) under the Consumer Driven Banking Act (the “Act”). Together with the Act, the Regulations introduce a framework, to be overseen by the Bank of Canada (the “Bank”), that enables Canadian individuals and businesses to share their financial data with accredited service providers of their choice.