Financial Institutions Legislative And Regulatory Reporter

Expanding a payment business into Canada requires navigating FINTRAC's Money Services Business registration framework. Understanding the regulatory requirements, compliance obligations, and practical steps for MSB registration helps international payment providers establish compliant operations in one of the world's most established financial markets.

This Bulletin summarizes key regulatory developments impacting the payments sector in 2025 and looks ahead to 2026.

The Institutional Limited Partners Association (ILPA) recently released the third version of its principles (Principles 3.0), as well as a form of limited partnership agreement (model LPA, and...

The Bank of Canada (the Bank) has begun to exercise its enforcement powers under the Retail Payment Activities Act (RPAA), publishing its first enforcement decisions involving Notices of Violation against payment service providers (PSPs). Each published enforcement decision to date has involved a zero dollar administrative monetary penalty (AMP).

The Office of the Superintendent of Financial Institutions (OSFI) published its third quarterly release of the year on September 10, 2026, noting that the targeted adjustments made to its guidance were made with a view to supporting a resilient and competitive Canadian financial system.

Canadian regulators have established a category-by-category framework for prediction markets, permitting certain economic and financial event contracts through securities dealers while directing sports and entertainment contracts outside that regime. This emerging approach creates distinct regulatory pathways depending on contract structure and underlying event type, raising critical questions about classification, market integrity, and compliance for platforms, dealers, and financial institutions navigatin

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.

The Ontario Securities Commission's 2026 survey reveals significant shifts in Canadian cryptocurrency adoption, awareness, and sentiment. With ownership rates more than doubling since 2023 and a growing belief that crypto will play a key role in Canada's financial system, the findings paint a picture of an evolving landscape where traditional financial advisors increasingly recommend crypto investments, yet regulatory awareness remains surprisingly low among the general population.

Canadian federal and provincial governments have launched targeted support programs to help businesses weather tariff disruptions and pivot operations. These programs offer liquidity assistance, working capital loans, and funding for market diversification, complementing broader regulatory and tax incentives being deployed across the country.

This bulletin summarizes the key provisions of the Digital Asset Market Clarity Act of 2025 (the "CLARITY Act"), a U.S. federal bill that establishes a comprehensive regulatory framework for the classification, offering, trading, and supervision of digital assets.

The United States has escalated its trade dispute with Canada by imposing import bans on alcoholic beverages, dairy products, and motorcycles under Section 338 of the Tariff Act of 1930, while Canada responds with matched counter-tariffs on $27.6 billion worth of U.S. goods. Following the collapse of bilateral negotiations in August 2026, both nations have entered an unprecedented phase of trade restrictions that extends beyond traditional tariffs to include procurement exclusions and threatens further auto

On July 2, 2026, the Canada Revenue Agency (CRA) published its updated Guidance on the Common Reporting Standard (Updated CRS Guidance).

Canada's inaugural Investment Summit in September 2026 aims to attract $1 trillion in investment across defence, infrastructure, Indigenous partnerships, technology, energy, critical minerals and agriculture. This analysis examines the federal measures shaping the Summit's agenda and outlines the key legal, regulatory and structuring considerations businesses and investors should evaluate when assessing nation-building opportunities in Canada.

The Government of Alberta recently confirmed its plan to implement a data centre levy framework as part of its broader AI Data Centre Strategy. The levy framework requires that large-scale data...

Newfoundland and Labrador's House of Assembly has approved a landmark definitive cooperation and implementation agreement that would replace the 1969 Churchill Falls Power Contract, pair the redevelopment of Churchill Falls with the Gull Island project, and establish new transmission pathways through Québec. The agreement faces political uncertainty in Québec ahead of the October 2026 provincial election...

Agentic AI, a new threat: The report identifies AI agents as an emerging trend that presents many risks to investors, firms, and markets, such as agents acting beyond the user's intention and the unintentional use or disclosure of sensitive information. Firms are encouraged to develop the necessary supervisory frameworks specific to agentic AI

The Supreme Court of Canada annulled a federal election in Terrebonne, Quebec after a single mail-in ballot went uncounted due to an Elections Canada administrative error—a postal code mistake that directly affected the one-vote margin of victory. In a 6-3 decision, the majority clarified that serious administrative errors can constitute "irregularities" under the Canada Elections Act even without fraud or intentional wrongdoing, fundamentally reshaping how courts balance electoral integrity against v

Canadian securities regulators have drawn a clear line excluding sports and entertainment prediction markets from securities regulation, leaving provincial gaming authorities to develop frameworks for these emerging platforms. Meanwhile, Quebec's political landscape suggests a potential opening of its iGaming market, and the Supreme Court prepares to rule on whether Ontario operators can legally connect players internationally through pooled liquidity arrangements.

On March 15, 2019, Education Minister Lisa Thompson announced plans to increase class size for high school and some elementary grades.

La Cour d'appel du Québec confirme une indemnité de 15,7 M$ contre un donneur d'ouvrage pour manquement à son devoir de bonne foi dans l'affaire PG4 c. Énergir. L'arrêt établit qu'un donneur d'ouvrage ne peut créer des attentes légitimes quant au traitement d'une réclamation pour ensuite se réfugier derrière le formalisme contractuel, consacrant ainsi les principes de loyauté et de cohérence dans les contrats de construction.