Notes Of Communications With Clients Should Be Clear

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.

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 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.

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.

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.

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

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 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).

As part of its commitment outlined in the 2024 Ontario Economic Outlook and Fiscal Review, the Government of Ontario is moving forward with the new licensing framework...

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

A major U.S. vendor agreement has established a rigorous new AI safety standard for educational technology, prohibiting the use of student data for AI training and enforcing strict data minimization. While the standard does not directly bind vendors in Canada, Canadian school boards can leverage this precedent to demand equivalent contractual protections and strengthen their own AI governance frameworks.

The Supreme Court of Canada held its second annual ceremony marking the opening of the judicial year at its temporary home in the West Memorial Building, with Chief Justice highlighting the Court's increased caseload and architectural features. What significant constitutional and legal challenges will the Court address in its fall 2026 session, including cases on firearm regulations, Crown immunity, and vicarious liability?

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

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.

The Government of British Columbia has published the Restricted Insurance Agent Licence Regulation, introducing a new restricted licensing framework...

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...

Since April 1, 2021, residential projects of at least 450 m² (about 5 units or more) in Montréal have been subject to the By-law for a Diverse Metropolis (the BDM).

In June 2022, Health Canada introduced new nutrition labelling regulations for prepackaged foods. A key feature of these regulations is the mandatory use of a front-of-package (FOP) nutrition symbol...

As part of its commitment outlined in the 2024 Ontario Economic Outlook and Fiscal Review, the Government of Ontario is moving forward with the new licensing framework...