Banking, Bankruptcy & Insolvency
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June 27, 2025
CSA business plan seeks to address rising investor risks while helping companies grow
Canada’s securities regulators will pursue projects over the next three years that will include examining regulatory changes that could benefit growth issuers, pursuing a Bankruptcy and Insolvency Act amendment that would enable securities regulator orders to survive bankruptcy, and further determining regulatory needs around artificial intelligence.
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June 27, 2025
CSA proposes ban on chargebacks in investment fund sales
The Canadian Securities Administrators (CSA) is proposing to ban chargebacks, a practice that allows investment funds, including mutual funds, to require dealers to repay upfront commissions if clients redeem their securities before a set period.
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June 27, 2025
Tax Court turns to 1997 'safe harbour' rule to allow appeal related to refugee’s expired work permit
The Tax Court of Canada has allowed an appeal of a decision that ruled that the appellant was not in insurable and pensionable employment for a period of about one year because his work permit was not renewed.
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June 26, 2025
Federal Court Chief Justice Crampton to retire in fall after 14 years leading national trial court
The Federal Court announced that its chief justice, Paul Crampton, will retire from the bench next fall, after almost 14 years as the court’s leader and 16 years as a puisne judge with the itinerant national trial court.
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June 26, 2025
FedCt unveils new practice guidelines; cuts oral, written argument in visa, work & study permit JRs
The Federal Court this week “paused” its study permit pilot project and announced that, for judicial reviews of denials of temporary resident visas, study permits and work permits, the default maximum time for hearings will be reduced to 45 minutes and the default maximum written submissions will be limited to 20 pages, starting Sept. 2.
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June 19, 2025
FCA sets aside decision that declared Ottawa must fill judicial vacancies ‘within a reasonable time’
A novel Federal Court action that tried to compel Ottawa to fix its chronic tardiness in filling superior court vacancies has been dismissed for lack of jurisdiction by the Federal Court of Appeal; however, the law firm that launched the case to help its clients and other litigants says its efforts were not in vain.
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June 19, 2025
U.S. tariffs will flatline Canadian GDP growth in second quarter, says PBO
The federal Parliamentary Budget Officer (PBO) Yves Giroux is predicting that Canada’s real GDP growth will be flat for the April-to-June quarter (Q2) of 2025, as the effects of pre-tariff stockpiling unwind and new U.S. trade measures begin to weigh on Canadian exports.
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June 19, 2025
CSA amendments tweak regulatory environment for Canadian Securities Exchange
The Canadian Securities Administrators (CSA) have announced amendments to some national instruments and policies to address a number of matters, including the creation of a senior tier by the Canadian Securities Exchange (CSE).
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June 19, 2025
Ottawa quietly reboots Trudeau-era cybersecurity bill passed by Commons but makes changes
The Carney Liberal government has quietly rebooted — with changes — a Trudeau-era cybersecurity bill that proposed new offences, large administrative monetary penalties (AMPs), gags and broad “compliance orders” for businesses, with the stated aim of defending critical infrastructure in the federally regulated sectors of finance, telecommunications, energy and transportation from the rising tide of electronic espionage, ransomware and other “malicious cyber activity.”
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June 18, 2025
G7 summit issues statements on AI, quantum technology, critical minerals and migrant smuggling
Concluding statements on artificial intelligence, quantum technology, critical minerals and migrant smuggling were issued by G7 leaders at the end of the 2025 summit in Kananaskis, Alta.