Canada: Commodities/Derivatives/Stock Exchanges

The Ontario Securities Commission has released its 2025 Annual Report on Canadian OTC derivatives markets, revealing significant shifts in market composition and regulatory oversight. Interest rate derivatives continue to dominate with 88.2% of total gross notional outstanding, while new data quality standards and expanded clearing requirements signal a more sophisticated regulatory approach to derivatives monitoring and risk management.

The Registration, Inspections and Examinations Division (RIE) of the Ontario Securities Commission (OSC) has published its examination priorities for fiscal 2026-2027 in OSC Staff Notice 33-761 – 2026 Examination Priorities for the Registration, Inspections and Examinations Division, enforcing its focus on a risk-based supervisory framework that is responsive to evolving market conditions and emerging risks

On May 14, 2026, the Canadian Securities Administrators (CSA) proposed changes to a number of rules to provide issuers with greater flexibility to repurchase their own securities, enhance transparency of ownership of derivative interests in specified circumstances and enhance the integrity of the issuer bid, take-over bid and early warning reporting regimes.

TMX Group Limited has entered into a definitive agreement to acquire Cboe Australia and Cboe Canada from Cboe Global Markets for US$300 million, a move that will consolidate Canadian equity trading platforms and unite leading mining and energy transition financing ecosystems. The transaction raises important questions about competition in Canadian capital markets and requires regulatory approval from securities regulators and the Competition Bureau.

The Government of Canada has introduced a comprehensive federal framework for regulating fiat-backed stablecoins through Budget 2025, establishing the Bank of Canada as the primary regulator.

The Canadian Securities Administrators (CSA) have announced the adoption of Coordinated Blanket Order 51‑933 – Exemptions to Permit Semi‑Annual Reporting for Certain Venture Issuers (Blanket Order), effective March 19, 2026.

On June 12, 2025, the Ontario Securities Commission (OSC) published final rules to facilitate the implementation of a new statutory framework for distributing amounts collected by the OSC under disgorgement orders to harmed investors.

As of June 4, 2025, several provisions of the Act amending various provisions primarily in the financial sector (the Act) have come into force, notably amending the Securities Act...

On June 12, 2025, the Ontario Securities Commission (OSC) adopted final Rule 11-502 Distribution of Amounts Received by the OSC under Disgorgement Orders and Payment of Related Administrative Costs...