Prudent Investor Legislative Provisions Update - Second

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.

‘Interest’ is deductible in terms of section 24J(2) of the Income Tax Act. The term ‘interest’ is defined to include any interest ‘or similar finance charges’. The meaning of ‘similar finance charges’ has been uncertain since the 2016 amendment replaced the broader expression ‘related finance charges’ with ‘similar finance charges’. Under the previous wording, the SCA held in CSARS v South African Custodial Services that various costs closely connected to obtaining finance, including guarantee, advisory, margin, commitment, legal and administration fees, qualified as ‘related finance charges’.

L'OCRI continue d'utiliser des dispenses pour relever les défis pratiques liés à la réglementation des courtiers membres. Les dispenses accordées en 2025 visaient plusieurs domaines récurrents, notamment les activités de négociation, la double inscription, les cryptoactifs, le prêt de titres et l'assurance des compétences, démontrant une approche de réglementation fondée sur des principes et la proportionnalité.

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.

The AI boom is creating unprecedented demand for GPUs, servers, power systems, cooling infrastructure, and other data center assets in Canada. As highlighted in the Equipment Lease & Finance Association’s (ELFA) recent article, as part of the data center “gold rush,” equipment finance has become a critical part of the capital stack supporting data center development, with lenders increasingly financing GPU-backed infrastructure and related technology assets. Canada’s cooler environment, expansive geography and access to abundant water and electricity in certain provinces, make the country a desirable location to build data centers.

The Planning Gap, with Shannon Lee Simmons. This episode focuses on the gab between having a financial plan and implementing it...

The arrival of prediction markets in Canada has introduced a wave of practical challenges and emerging legal and regulatory issues, including questions relating to the scope of permissible trading, the limitations of traditional market surveillance, and new dynamics relating to the use of confidential information.

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

The Canadian Securities Administrators and CIRO have issued guidance clarifying their regulatory stance on event contracts and prediction markets. While declining jurisdiction over sports and entertainment-based contracts, regulators maintain oversight of event contracts tied to economic and financial indicators, creating a nuanced framework that requires careful analysis of each product's structure and underlying event.

Canadian securities regulators have established a limited framework for prediction markets, restricting which event contracts can be offered to investors and under what conditions. While certain economic and financial forecasts may be traded through authorized dealers, contracts based on political events, sports, or entertainment remain prohibited, and compliance with securities law does not resolve potential exposure under criminal gambling provisions.

Smart glasses are rapidly transitioning from a novelty seen in movies to a mainstream workplace tool. Devices like the Ray-Ban Meta line and Samsung’s Google-powered glasses are being used across industries.

Navigating a shift in gender identity involves profound personal changes that extend into legal and estate planning considerations. Understanding how name changes, gender identifiers, pronouns, and medical directives intersect with wills and powers of attorney ensures that estate plans authentically reflect and honor a person's true identity throughout their life and after death.

Ontario's Bill 97 introduces sweeping reforms to freedom of information and privacy laws, fundamentally reshaping how public institutions handle access requests and protect personal data. The amendments establish new timelines, breach reporting requirements, and privacy impact assessment obligations that will require significant operational changes.

Lisa and Arturo will examine common leasing challenges, emerging trends and key considerations providing attendees with practical strategies they can apply in their day-to-day leasing matters.

Ontario's Minister of Municipal Affairs and Housing has taken the rare step of referring Toronto's Official Plan Amendment 804 to the Ontario Land Tribunal for recommendation. This referral involves the redesignation of certain Employment Areas and will have significant implications for how the province's new "area of employment" regime is applied across Ontario. The Tribunal's forthcoming recommendation will be closely watched by municipalities and stakeholders throughout the province.

August continues to be a busy month for the Court of Appeal of Ontario with another significant decision for Ontario employers and employees.[1] In Wigdor v Facebook Canada Ltd., the Court of Appeal provided clarification...

Recent court decisions reveal a developing area of cyber insurance subrogation where insurers can potentially recover losses from vendors, financial institutions, and service providers who failed to meet specific cybersecurity obligations. These cases demonstrate that a cybercriminal's involvement does not automatically shield third parties from liability when they breach contractual duties or ignore red flags that contributed to the loss.

On July 28, 2026, the Ontario Securities Commission’s (OSC) released its 2025 Crypto Assets Survey.[1] The report provides a useful snapshot of how Canadians engage with cryptocurrency assets...

Commercial real estate transactions often begin with agreed-upon purchase prices based on surface-level criteria, but the true nature and value of a property only emerges through comprehensive due diligence. Beyond simply identifying risks, thorough legal and physical investigation can reveal hidden opportunities, inform negotiation leverage, and ultimately determine whether a deal truly aligns with a purchaser's investment objectives. Understanding what due diligence can uncover—from title restrictio

The Ontario Court of Appeal has resolved a critical question about employment contract enforceability, determining whether common phrases like "at any time" and "for any reason" in termination provisions violate employment standards legislation. The decision addresses conflicting lower court rulings and establishes new guidance on how courts should interpret termination clauses in employment agreements.