Canada

CSA Proposes Amendment to Insider Reporting Requirements for Investment Funds and Structured Products

The Canadian Securities Administrators published a notice proposing amendments to Part 9 of National Instrument 55-104 to clarify insider reporting requirements for investment fund transactions and structured products such as notes, American Depositary Receipts, and Canadian Depositary Receipts based on reporting insiders' securities. The 60-day comment period closes June 8, 2026.

Securities Regulators Report on CIRO, CIPF Oversight Activities

The Canadian Securities Administrators (CSA) published CSA Staff Notice 25-315 summarizing oversight activities for the Canadian Investment Regulatory Organization (CIRO) and the Canadian Investor Protection Fund (CIPF) during the 2025 calendar year. The report covers CIRO's rules consolidation, cybersecurity breach response, dealer registration functions, and fee model amendments, along with CIPF's fund integration and credit-risk model assessment.

Regulators Remind Industry of Prediction Market Rules

The CSA and CIRO issued a joint reminder that prediction markets and event contracts in Canada are subject to securities and derivatives legislation. Trading or facilitating trading in event contracts that qualify as securities or derivatives requires compliance with registration or recognition requirements. MI 91-102 prohibits binary options with maturity under 30 days. Two CIRO members have been authorized to facilitate Canadian client access to event contracts on foreign markets.

US Surtax Remission Order Provides Motor Vehicle Import Relief

The Canada Border Services Agency (CBSA) published Customs Notice 26-10 providing information on the United States Surtax Remission Order (Motor Vehicles 2026), which grants remission of the 25% surtax imposed on US-origin motor vehicles. The remission applies to eligible importers with specific business numbers listed in the schedule, for vehicles imported between April 9, 2026 and April 8, 2027. Importers must file claims within two years of importation and meet conditions including manufacturing or restarting manufacturing in Canada.

CEO Pollard Fined $25,000 for Late Insider Reports

The BC Securities Commission fined Andrew Pollard, CEO of Blackrock Silver Corp., $25,000 for failing to file timely insider reports on the System for Electronic Disclosure by Insiders (SEDI). Between 2019 and 2025, Pollard failed to report 161 securities transactions valued at more than $950,000 within the required five-day deadline. Pollard voluntarily disclosed his failures, completed all required SEDI filings, and paid $5,700 in late fees.

Anti-Dumping Investigation Into Chinese Decorative Plywood

The Canada Border Services Agency initiated anti-dumping and countervailing duty investigations on April 10, 2026, concerning decorative and other non-structural plywood from China. The investigations follow a complaint by Canadian producers Columbia Forest Products and the Canadian Hardwood Plywood and Veneer Association. The CBSA will investigate alleged dumping and subsidizing and make preliminary determinations within 90 days, at which time provisional duties may apply.

Apo-Fluoxetine Recalled Due to Impurities Out of Specification

Health Canada has issued a Type III health product recall for Apo-Fluoxetine 10mg and 20mg capsules by Apotex Inc. due to impurities being out of specification and out of trend. The recall affects retailer-level distribution. Affected lots include VM4608, VM4612 (20mg) and VM4598 (10mg). Patients with affected product should verify their medication and consult healthcare providers before making any changes to their treatment.

Stryker InZone Detachment System Type II Recall - Battery Drain

Health Canada issued a Type II recall for Stryker Neurovascular's InZone Detachment System. Certain device lots may experience premature battery drain, causing devices to fail to power on, display faint indicators, or be unable to detach coils as intended. Healthcare providers should contact Stryker Neurovascular at 47900 Bayside Parkway, Fremont, CA 94538 to verify affected lot numbers and obtain additional information.

Cardinal Health Angiography Pack and Catheterization Packs Recalled

Health Canada has issued a Type I recall for Cardinal Health Angiography Pack and Catheterization Pack products. The recall affects model numbers SCV30COP18, SCV30COPBN, SCV30COPBO, and SAN30LHTHC. The issue stems from Namic Angiographic Rotating Adaptor (RA) Control Syringes included in these products, which may unwind during use and cause disconnection. Healthcare providers should immediately identify and stop using affected products and contact Cardinal Health for replacement or additional information.

QuickVue Dipstick Strep A Test Recalled - False Positive Results

Health Canada issued a Type II medical device recall for the QuickVue Dipstick Strep A Test (catalog 20125) manufactured by Quidel Corporation due to false positive results. Affected lots include 709509, 709487, 709503, 709684, and 233275. False positives may include faint pink lines as well as pink-to-red test lines. Healthcare providers using these tests should stop using affected lots and contact the manufacturer.