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Kristopher R. Hanc

M&A and Capital Markets Lawyer at Bennett Jones Toronto

Partner

John Lawless

Private Equity, M&A, Corporate and Securities Lawyer at Bennett Jones Calgary

James D. Beeby

Corporate Finance, M&A, Private Equity and Venture Capital Lawyer

The Supreme Court of Canada has released its much-anticipated decision in Lundin Mining Corp. v. Markowich, 2025 SCC 39, clarifying the definition of a "material change" under securities law and providing guidance on when a public company must disclose information to the market. The decision will have broad implications for public companies, their directors, officers, shareholders and other market participants.

Supreme Court of Canada Clarifies Scope of Securities Disclosure Obligations for Material Changes

Shifting Grounds: Supreme Court of Canada Clarifies Scope of Securities Disclosure Obligations for "Material Changes"

Robert W. Staley

Commercial, Securities and Class Action Litigation Lawyer at Bennett Jones Toronto

Vice Chair and Partner

Amanda C. McLachlan

Securities Litigation, Regulatory Investigations and Financial Crimes Lawyer at Bennett Jones Toronto

Doug Fenton

Litigation Lawyer at Bennett Jones Toronto

The Ontario Court of Appeal&rsquo;s decision in Binance v. OSC clarifies the limits of the OSC&rsquo;s investigative powers and the Charter protections available in securities investigations. While the Court rejected a constitutional right to challenge a summons before compliance, it found the summons issued to Binance overbroad and unconstitutional. The ruling offers important guidance for market participants on regulatory scrutiny, the scope of document production, and the viability of judicial review.

Court of Appeal Addresses Scope of Charter Review in Securities Investigations

Binance v. OSC: Court of Appeal Addresses Scope of Charter Review in Securities Investigations 

Shaan P. Tolani

Commercial Litigation Lawyer at Bennett Jones Toronto

Associate

In recent years, the OSC and other regulatory bodies began signaling to public markets that regulators intended to crack down on what they termed abusive short-sellers. Against this backdrop, the OSC brought enforcement proceedings before the Ontario Capital Markets Tribunal (CMT) naming Cormark Securities Inc., Saline Investments Ltd., and individuals as respondents. The proceedings focused on an alleged illegal and abusive short selling scheme. At the conclusion of a lengthy hearing on the merits, the CMT dismissed all of the OSC’s allegations.

Short Selling Structure not Abusive Ontario Capital Markets Tribunal Dismisses OSC Allegations

Short-Selling Structure Not Abusive—Ontario Capital Markets Tribunal Dismisses OSC Allegations in High-Profile Enforcement Proceeding

Simon Grant

Banking & Finance Lawyer, Fintech Lawyer at Bennett Jones Toronto

Partner 

William (Will) Gatchell

Commercial Transactions Lawyer at Bennett Jones Toronto

Borrowers and lenders negotiating payment directions on the closing of loan transactions should take heed of the recent decision of the Ontario Court of Appeal in Kemeny v. Callidus Capital Corporation, 2023 ONCA 76.

Ontario Court of Appeal Case Upholds Closing Payment Direction Against Lender

Sarah E. Gilbert

Regulatory, Environmental and Health and Safety Lawyer at Bennett Jones Toronto

Julia E. Schatz

Commercial Litigation, Agribusiness, Arbitration, Real Estate, Construction and Environmental Litigation at Bennett Jones Toronto

Gatlin Smeijers

Environmental Lawyer at Bennett Jones Toronto

On December 31, 2025, the Federal Government published the Prohibition of Certain Toxic Substances Regulations, 2025 under the Canadian Environmental Protection Act, 1999. When they come into effect on June 30, 2026, the 2025 Regulations will repeal and replace the Prohibition of Certain Toxic Substances Regulations, 2012. The Federal Government published a proposed version of the 2025 Regulations in 2022 for public consultation.

Federal Government Publishes Prohibition of Certain Toxic Substances Regulations

Federal Government Publishes Prohibition of Certain Toxic Substances Regulations, 2025

William S. Osler KC

Capital Markets, Securities, M&A and Corporate Governance Lawyer at Bennett Jones Calgary

Drew C. Broughton

Corporate Commercial and M&A Lawyer at Bennett Jones Calgary

Audrix Arce

Articling Student

Recent changes to the Commissioner of Lobbying&rsquo;s interpretation of the federal Lobbying Act significantly lower the threshold for mandatory lobbyist registration. As of January 2026, organizations may be required to register if employees collectively spend as little as eight hours lobbying within a four-week period, including preparation and written communications. This update has important compliance implications for corporations and other organizations engaging with federal public office holders.

Expanded Federal Lobbyist Registration Requirements

Natalia E. Iamundo

Commercial Real Estate Lawyer at Bennett Jones Toronto

Alixe A.L. Cameron

Corporate Commercial and Real Estate Lawyer at Bennett Jones Calgary

Troy Mack

Corporate Commercial Lawyer at Bennett Jones Calgary

Rights of first refusal and rights of first offer are often used interchangeably, but they carry very different legal consequences in Alberta land transactions. This post explains how Alberta legislation and case law treat each right, why only a ROFR can support a caveat, and what parties should consider when structuring agreements to protect their interests.

Right of First Refusal vs Right of First Offer in Alberta Land Transactions

Right of First Refusal vs. Right of First Offer in Alberta Land Transactions 

Edward (Ted) Yoo

Intellectual Property Lawyer and Canada/US Patent and Trademark Agent at Bennett Jones Edmonton

Partner, Patent Agent, Trademark Agent

Ahmed Elmallah

Intellectual Property Lawyer at Bennett Jones Edmonton

Counsel, Patent Agent, Trademark Agent

Joshua Kim

Articling Student at Bennett Jones in Edmonton

The Alberta Court of King&rsquo;s Bench decision in SHAC Solutions Inc v Guenther confirms that intellectual property includes confidential processes, trade secrets and institutional know-how. The Court&rsquo;s injunction highlights the power of confidentiality agreements and the irreparable harm that can result from misuse of confidential information.

Protecting Your Proprietary Information Lessons from SHAC Solutions Inc v Guenther

Protecting Your Proprietary Information: Lessons from SHAC Solutions Inc v Guenther

Shahrose Javed

Lawyer at Bennett Jones Toronto

Andrew L. Jeanrie

Commercial Real Estate and Infrastructure Development Lawyer at Bennett Jones Toronto

Inclusionary zoning is a planning tool that requires certain new residential developments to include a prescribed percentage of affordable housing units.&nbsp;IZ was introduced as a unique zoning tool for Ontario&mdash;it would use zoning bylaws not only to dictate the uses permitted in a given area, but also as a tool to control the market price of what that zoning permits. 
<div>&nbsp;</div>

Ontario Moves to Pause Inclusionary Zoning Obligations

Inclusionary Zoning in Ontario: Ontario Moves to Pause Inclusionary Zoning Obligations 

2014 Annual Update on Human Rights: Keeping on Top of Key Developments

From the Same Authors