Privilege at Risk: How Pleading Lack of Legal Understanding Can Backfire

What happens when a party claims it misunderstood the legal consequences of a contract, but had in fact obtained legal advice at the time it was executed?  The short answer is that it can result in a complete loss of solicitor-client privilege. The Ontario Court of Appeal addressed this issue in One York Street Inc. …

CSA Proposes Semi-Annual Financial Reporting Pilot for Eligible Venture Issuers

Introduction On October 23, 2025, the Canadian Securities Administrators (“CSA”) released a Notice of Publication and Request for Comment regarding proposed Coordinated Blanket Order 51-933 Exemptions to Permit Semi-Annual Reporting for Certain Venture Issuers (the “Blanket Order”). A coordinated blanket order consists of harmonized local exemption orders issued by each CSA jurisdiction. Accordingly, the Blanket Order is intended to …