Interview – Everything You Need To Know About Predictive Markets

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.

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.

The Canadian Investment Regulatory Organization’s (CIRO) proposed Incorporated Approved Person model could materially change how client-facing advisors structure their businesses and receive compensation with significant impacts to sponsoring firms. The proposed rule amendments, published on July 9, 2026, would introduce a harmonized incorporated compensation option for client-facing Approved Persons across CIRO regulated dealers. Comments are due November 6, 2026.

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...

Since the threats of new and increased U.S tariffs first emerged in the spring, the Ontario government has looked to reduce trade barriers and improve harmonization for licensing standards between provinces.

The Canadian private equity landscape navigates a transition period marked by prolonged market volatility and stalled exit activity, yet demonstrates resilience through strategic investments in high-growth sectors. Q3 2026 analysis reveals how larger commitments, power and utilities investments, evergreen fund expansion, and healthcare sector dynamics are shaping the market amid escalating trade tensions and evolving investor strategies.

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).

Bill C-12 has fundamentally transformed Canada's anti-money laundering framework by introducing penalties up to forty times higher than previous levels and expanding compliance obligations across the financial sector. The legislation now requires all reporting entities to enroll with FINTRAC and maintain "reasonably designed, risk-based and effective" compliance programs, while imposing cumulative maximum penalties that can reach 3% of global revenue.

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

Bill C-39, the Building Canada Strong Act, proposes significant amendments to the Canada Labour Code that will reshape collective bargaining timelines, ministerial intervention powers, and union certification processes for federally regulated employers. The legislation introduces new conditions for government intervention in labour disputes, accelerates bargaining deadlines for certain collective agreements, and expands obligations for airport service providers.

New draft regulations clarify which federally regulated private businesses must comply with French language obligations under the Use of French in Federally Regulated Private Businesses Act.

The federal government has introduced a temporary public policy to allow eligible temporary foreign workers in Québec to obtain a new work permit valid for up to 12 months.

Starting October 20, 2026, federally regulated employers in Canada must comply with new equal treatment requirements that prohibit wage differences based on employment status for comparable work. The regulations establish specific criteria for comparing employees, outline permissible exceptions to equal treatment, and impose new obligations on temporary help agencies.

The Act to give greater consideration to the needs of the population in the event of a strike or a lock-out will come into effect on November 30, 2025.

Le projet de loi C-39 propose des modifications majeures au Code canadien du travail qui transformeraient les relations de travail dans les milieux syndiqués de compétence fédérale. Ces changements incluent un nouvel encadrement des interventions ministérielles, des négociations collectives plus hâtives et une prolongation du processus de conciliation.

On May 13, 2021, the Minister of Justice and Minister Responsible for the French Language, Simon Jolin-Barrette, tabled Bill 96, An Act respecting French, the official and common language of Quebec ("Bill 96").

The Court of Québec has clarified the interpretation of section 22 of Quebec's Access to Information Act, determining that public bodies need not prove "economic loss" when refusing document disclosure. The ruling addresses whether universities and other public institutions can withhold pedagogical materials and technical information when disclosure might cause losses or benefit third parties, establishing a new standard for applying access to information exceptions.

The Québec government has announced amendments to the Québec Immigration Regulation. These changes, most of which come into force on December 17, 2025, will directly affect how you manage and recruit foreign workers.

On April 25, 2025, the Financial Markets Administrative Tribunal (the "FMAT") issued its first ruling on the admissibility of expert reports on cryptocurrencies.