Baker McKenzie has contributed to The Legal 500 Country Comparative Guide 2026: Canada – Capital Markets, offering practical insights into the legal, regulatory and market considerations shaping capital markets activity in Canada.

The guide examines:

• How Canada operates a functionally national securities regime without a national regulator, with provinces and territories administering their own legislation while coordinating through the Canadian Securities Administrators (CSA).
• The regulatory framework issuers navigate, including provincial securities legislation, National and Multilateral Instruments, companion policies, staff notices and the passport system.
• Canada's principal exchanges, including the Toronto Stock Exchange (TSX), TSX Venture Exchange, CBOE Canada, the Canadian Securities Exchange and the Montréal Exchange, and the governance, disclosure and shareholder approval requirements that apply to listed issuers.
• The debt capital markets landscape and the interaction between federal banking and prudential oversight and provincially administered securities regulation.

As cross-border capital flows, foreign private issuer structures and evolving disclosure expectations continue to reshape the market, understanding the interplay between provincial regulators, CSA-harmonized instruments and exchange rulebooks has become increasingly important.

The guide explores how market participants can navigate Canada's decentralized yet coordinated regulatory framework to support successful equity and debt transactions.

Read the full guide

Capital Markets