Highlights Of The New Competition Act And Pending Changes For Foreign Investment

The federal government has significantly enhanced the Canadian approach to both competition law and foreign investment, evidencing a growing focus on enforcement of Canada's competition laws and on national security considerations arising from foreign investment. Businesses need to be mindful of the increasing risk and exposure from these changes.

Specifically, the legislative framework governing competition law and business conduct in Canada as set out in the Competition Act (Act) has changed substantially. The application of these rules is also becoming more rigorous. We wrote about these pending changes last year. Some of these changes are already in effect. Others are coming into effect at the end of this year or in June 2025. Among other noteworthy developments, private rights of action are now available for contravention of certain provisions with monetary relief available as a remedy. The Act also now specifically includes greenwashing provisions, which we