Canada: Finance and Banking

The lender has approved the financing, the borrower needs the funds, and a closing date has been set. So why is the transaction taking longer, and costing more, than expected? In Canadian commercial lending, the steps between credit approval and funding can be easy to underestimate. Documents need to be settled, due diligence completed and funding conditions addressed, often with input from several parties. While unforeseeable complexities may arise from time to time that are outside everyone’s control, there are some issues that, if addressed from the outset of the file, will allow lenders and borrowers to plan realistically and manage legal spend.

On October 13, 2026, British Columbia’s new Mortgage Services Act, S.B.C. 2022, c. 27 (the “MSA”) will come into force and effect, replacing the longstanding Mortgage Brokers Act, R.S.B.C. ch. 313 (the “MBA”). The MSA introduces a modernized regulatory framework for mortgage service providers, including expanded licensing requirements, increased disclosure obligations, enhanced enforcement tools, and significantly higher penalties for non-compliance.

Teva Pharmaceutical Industries and Samsung Bioepis have expanded their biosimilar partnership to include up to six new biosimilar candidates. Two confirmed candidates are SB41, referencing AstraZeneca's FASENRA (benralizumab) for eosinophilic asthma, and SB44, referencing Novartis's ILARIS (canakinumab) for systemic juvenile idiopathic arthritis and other inflammatory conditions.