In this article — “Canada’s 2026 privacy priorities: data sovereignty, open banking and AI” — we discuss legislative reform, government policy, industry standards, and regulatory guidance and oversight which will all have a role to play in shaping the privacy and data management landscape in 2026.

This article is authored by Adam Kardash, partner and Co-Chair of the Privacy and Data Management practice; Wendy Gross, Chair of the Technology Group; François Joli-Coeur, partner, Privacy and Data Management; Adam LaRoche, partner Privacy and Data Management and Employment and Labour Groups; Colleen Morawetz, Privacy Knowledge Management lawyer; and Alexandra Toma, associate, Privacy and Data Management.

Osler Legal Outlook is brought to you by Osler, Hoskin & Harcourt LLP. Osler is a leading, national law firm with a singular focus — your business. We advise clients on an array of domestic and cross-border legal issues, drawing on the expertise of over 600 lawyers to provide the answers you need, when you need them.

Osler Legal Outlook, published on December 4, 2025, provides general information only and does not constitute legal or other professional advice. Specific advice should be sought in connection with your circumstances.

For more information about Osler and for the full Osler Legal Outlook, please visit our website, osler.com.

In this article — “AI training on trial: the next legal frontier in copyright law” — we discuss how the rapid rise of AI has raised fundamental legal questions regarding copyrighted materials. In 2026 we expect to see the courts in the U.S. and Canada begin to clarify how fair dealing applies to training AI models.

This article is authored by Barry Fong, a partner in Osler’s Intellectual Property Group, Sam Ip, a partner in Osler’s Technology Group, and Ryan Holland, an associate with the Intellectual Property Group.

Osler Legal Outlook is brought to you by Osler, Hoskin & Harcourt LLP. Osler is a leading, national law firm with a singular focus — your business. We advise clients on an array of domestic and cross-border legal issues, drawing on the expertise of over 600 lawyers to provide the answers you need, when you need them.

Osler Legal Outlook, published on December 4, 2025, provides general information only and does not constitute legal or other professional advice. Specific advice should be sought in connection with your circumstances.

For more information about Osler and for the full Osler Legal Outlook, please visit our website, osler.com.

In this article — “Reconciling Aboriginal title and private property rights on unceded land” — the authors examine how recent court decisions and ongoing cases from across Canada are impacting the relationship between Aboriginal title and fee simple ownership interests on unceded lands, as well as their legal and practical implications for governments, corporations and other parties.

This article is authored by Richard King, a partner and Co-Chair of Osler’s Regulatory, Indigenous and Environmental group, Lindsay Burgess, Ankita Gupta, and Shelby Empey, who are associates in the firm’s Disputes group, and Daniel Kiesman, an articling student.

Osler Legal Outlook is brought to you by Osler, Hoskin & Harcourt LLP. Osler is a leading, national law firm with a singular focus — your business. We advise clients on an array of domestic and cross-border legal issues, drawing on the expertise of over 600 lawyers to provide the answers you need, when you need them.

Osler Legal Outlook, published on December 4, 2025, provides general information only and does not constitute legal or other professional advice. Specific advice should be sought in connection with your circumstances.

For more information about Osler and for the full Osler Legal Outlook, please visit our website, osler.com.

In this article — “International trade: navigating the rapidly changing landscape” — we discuss the dramatic shifts in Canadian trade policy that occurred in 2025 due largely to the often-fluctuating U.S. tariffs. In the coming year clients will need to closely monitor legal and political developments in the U.S., and Canada’s responses to them, as they adapt to this new and rapidly evolving environment.

Osler Legal Outlook is brought to you by Osler, Hoskin & Harcourt LLP. Osler is a leading, national law firm with a singular focus — your business. We advise clients on an array of domestic and cross-border legal issues, drawing on the expertise of over 600 lawyers to provide the answers you need, when you need them.

Osler Legal Outlook, published on December 4, 2025, provides general information only and does not constitute legal or other professional advice. Specific advice should be sought in connection with your circumstances.

For more information about Osler and for the full Osler Legal Outlook, please visit our website, osler.com.

In this article — “Shareholder activism in Canada: trends and outlook for coming years” — the authors examine the recent increase of shareholder activism targeting board composition and company leadership, the attitudes of Canadian securities regulators toward intervention, and how issuers and shareholders can calibrate their strategies to align with regulatory expectations and investor priorities.

This article is authored by Teresa Tomchack, a partner in Osler’s Disputes group, John Valley, a partner and Chair of the firm’s Corporate Governance practice, Lauren Harper and Tamara Kljakic, associates in the firm’s Disputes group, and Wesley Cohen, an associate in the firm’s Corporate group.

Osler Legal Outlook is brought to you by Osler, Hoskin & Harcourt LLP. Osler is a leading, national law firm with a singular focus — your business. We advise clients on an array of domestic and cross-border legal issues, drawing on the expertise of over 600 lawyers to provide the answers you need, when you need them.

Osler Legal Outlook, published on December 4, 2025, provides general information only and does not constitute legal or other professional advice. Specific advice should be sought in connection with your circumstances.

For more information about Osler and for the full Osler Legal Outlook, please visit our website, osler.com.

In this article — “From AML to AI: regulatory developments in the financial services landscape” — the authors discuss the increasingly complex regulatory environment for Canada’s financial services sector, including enhanced enforcement activity, risk management around the integration of artificial intelligence, machine learning and other technologies, pathways to participation in the Real-Time Rail payments system, stablecoin adoption and more.

This article is authored by Victoria Graham and Elizabeth Sale, partners in Osler’s Financial Services group.

Osler Legal Outlook is brought to you by Osler, Hoskin & Harcourt LLP. Osler is a leading, national law firm with a singular focus — your business. We advise clients on an array of domestic and cross-border legal issues, drawing on the expertise of over 600 lawyers to provide the answers you need, when you need them.

Osler Legal Outlook, published on December 4, 2025, provides general information only and does not constitute legal or other professional advice. Specific advice should be sought in connection with your circumstances.

For more information about Osler and for the full Osler Legal Outlook, please visit our website, osler.com.

In this article – “Canada’s crypto realignment: focus on stablecoins and global tax transparency” — we examine the substantial changes to cryptocurrency regulation in Canada in 2025, with securities regulators and financial authorities introducing support for stable coins, as well as the impending legislation that will demand new levels of transparency from market participants.

This article is authored by Matthew Burgoyne, partner in the Corporate Group and Chair, Digital Assets and Blockchain, and members of Osler’s Tax Group Matias Milet, partner, and Sean Timlick, associate.

Osler Legal Outlook is brought to you by Osler, Hoskin & Harcourt LLP. Osler is a leading, national law firm with a singular focus — your business. We advise clients on an array of domestic and cross-border legal issues, drawing on the expertise of over 600 lawyers to provide the answers you need, when you need them.

Osler Legal Outlook, published on December 4, 2025, provides general information only and does not constitute legal or other professional advice. Specific advice should be sought in connection with your circumstances.

For more information about Osler and for the full Osler Legal Outlook, please visit our website, osler.com.

In this article – “Beyond tariffs: compliance implications of shifting U.S. trade relations” — we discuss how Canadian businesses, particularly those operating internationally or in industries targeted by executive orders, should continue to expect heightened scrutiny from U.S. authorities as it continues to focus on enforcement against foreign entities.

This article is authored by members of the Disputes Group: Lawrence Ritchie, partner, and Chair, Risk Management and Crisis Response; Stéphane Eljarrat, partner, and head, Government Investigations and White-Collar Defence; Malcolm Aboud, Counsel and Emilie Dillon, associate, together with Chelsea Rubin, associate in Osler’s Competition/Antitrust, Foreign Investment and International Trade Groups.

Osler Legal Outlook is brought to you by Osler, Hoskin & Harcourt LLP. Osler is a leading, national law firm with a singular focus — your business. We advise clients on an array of domestic and cross-border legal issues, drawing on the expertise of over 600 lawyers to provide the answers you need, when you need them.

Osler Legal Outlook, published on December 4, 2025, provides general information only and does not constitute legal or other professional advice. Specific advice should be sought in connection with your circumstances.

For more information about Osler and for the full Osler Legal Outlook, please visit our website, osler.com.