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www.canadianlawyermag.com 57 made by those entities – we saw it go from transgressions by junior mining companies, to cannabis, and now a lot of cryptocurrency and AI-related work. That regulatory work also tends to be more resistant to swings in the economic cycle than something like commercial liti- gation. Regulators keep investigating and prosecuting compliance issues regardless of whether the economy is strong, which makes it a comparatively steady part of the practice. On the class-action side, there's been a bit less volume in Ontario lately. Amend- ments to the Class Proceedings Act made Ontario less appealing to plaintiffs' lawyers, so there's higher volume now in British Columbia and Quebec, where the Stockwoods LLP Stockwoods LLP has appeared in the rank- ings since 2012, with peers this time around highlighting the firm's securities litigation and regulatory practice alongside its class- action advocacy. "Stockwoods is simply the best. Unbe- lievably smart, great with clients, strategic, sees the big picture and litigates to win," says one respondent. Paul Le Vay, partner at Stockwoods in Toronto, spoke with CL about what has sustained that recognition. Q: Peers specifically cited your securi- ties litigation and regulatory work. How has that practice area evolved for the firm over the last decade or so? A: Securities litigation and regulatory work are two distinct but related concepts. Secu- rities litigation involves regulatory work, representing public market participants or registrants in front of the Ontario Securi- ties Commission, the Canadian Investment Regulatory Organization, and other bodies, involving breaches of Ontario securities law. It also involves civil litigation, investor claims, intra-industry claims, and securities class actions. How that work has evolved is really a function of the regulatory choices Recognized among Canadian Lawyer's Top Litigation Boutiques 2026, Hunter Litigation Chambers brings sophisticated advocacy, deep litigation expertise, and a forward-looking approach to complex, high-stakes matters across Canada.