Canada

FINTRAC Guidance on Proceeds of Crime Act Obligations

FINTRAC has published updated guidance for reporting entities on their obligations under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act. The guidance covers various sectors and key compliance areas such as client identification and transaction reporting.

Health product recall: APO-BRIMONIDINE-TIMOP weight out of specification

Health Canada has issued a recall for APO-BRIMONIDINE-TIMOP due to a weight specification issue in lot VK2312. The recall is classified as Type II, indicating a low probability of adverse health consequences. Retailers are instructed to remove the affected product from shelves.

Lifeworks Technology Massage Guns Recalled as Unauthorised Device

Health Canada has recalled Lifeworks Technology Vibra-Heal and Restore Massage Guns because they were distributed without a valid medical device licence. Sales have ceased, and the company plans to apply for the necessary licence.

Olympus MAJ-1443 and MAJ-1444 Valves Recall

Health Canada has issued a Type II recall for Olympus MAJ-1443 and MAJ-1444 valves. These valves are no longer compatible with OER-Pro and OER-Elite automated endoscope reprocessors and require reprocessing via updated instructions. Healthcare providers should contact the manufacturer for further information.

Shimadzu FDR Visionary Suite Health Product Recall

Health Canada has issued a Type II recall for Shimadzu Corporation's FDR Visionary Suite medical device due to a potential safety issue with the X-ray high voltage generator. The issue could lead to overheating and smoke. Healthcare providers are advised to contact the manufacturer for more information.

Competition Tribunal Dismisses Google's Constitutional Challenge

The Competition Tribunal has dismissed Google's constitutional challenge against the Competition Bureau's abuse of dominance litigation. The Tribunal affirmed its authority to impose administrative monetary penalties. The underlying case against Google regarding anti-competitive conduct in online advertising continues.

CSA Disarms Over 7,500 Fake Investment and Crypto Scam Websites

The Canadian Securities Administrators (CSA) announced the deactivation of over 7,586 fake investment and crypto scam websites targeting Canadians between June 2025 and February 2026. This initiative highlights the CSA's ongoing efforts to combat online investment fraud using regulatory and technological tools.

Canada Pre-Merger Notification Threshold Remains $93M for 2026

The Canadian Minister of Industry has decided to keep the pre-merger notification threshold at $93 million for 2026. This means transactions where the acquired company's Canadian assets or revenues exceed $93 million will continue to require advance notice to the Competition Bureau, provided the combined parties' assets or revenues exceed $400 million.

OSFI Superintendent Discusses Mortgage Regulation and Financial System Resilience

OSFI Superintendent Peter Routledge discussed the future of mortgage regulation, including the retention of stress tests and LTI limits, and OSFI's ongoing regulatory modernization efforts. The speech highlighted OSFI's commitment to adapting its framework based on feedback from regulated institutions.

Competition Bureau Expands Real Estate Commission Rules Investigation

The Competition Bureau has expanded its investigation into real estate commission rules to include Greater Vancouver REALTORS® (GVR), seeking a court order to gather information. The probe examines whether GVR and the Canadian Real Estate Association's commission rules violate the Competition Act by potentially discouraging competition or leading to higher costs for buyers and sellers.