BAX Securities Law
Automatically compiled listing. Details may contain errors.3 lawyers · Established 2012 · City of Toronto
One of 2,273 law firms listed in Toronto, and one of 462 handling Business & Corporate Law.
Virtual appointments
Virtual appointmentsAbout BAX Securities Law
BAX Securities Law is a Toronto firm devoted to corporate securities and financial services law, with work spanning capital markets, investment funds, financial services regulation and crypto assets. Its advice reaches across asset classes, from equity and debt to private equity, venture capital and syndicated mortgages. Clients include public and private companies from Canada and abroad, financial services and accounting firms, and the officers, directors and employees of those businesses.
Barbara Hendrickson started the firm in 2012, following a 20 year career with time at an international law firm, a national law firm and the Ontario Securities Commission, where Hendrickson served as senior legal counsel. Hendrickson has also sat on a number of the OSC's securities advisory committees. A graduate of the University of Calgary law school's third graduating class, Hendrickson also holds two Master of Laws degrees, one in tax from Osgoode Hall Law School and one from the University of Toronto, and was called to the bar in Ontario in 1994 and in British Columbia in 2010.
Janny Cho, of counsel, handles securities, corporate finance and commercial matters. Cho is fluent in Cantonese and has worked in Hong Kong, Japan and Singapore. Navraj Pannu is a corporate, commercial and securities lawyer who helps businesses through regulatory hurdles, strategic deals and key growth stages.
Best Lawyers named BAX Securities Law to its Best Law Firms Canada list in 2025 and 2026, and Canadian Lawyer included it among its Top Corporate Law Boutiques every year from 2016 to 2020. The office is at 30 St. Patrick Street, Suite 700, in Toronto, and a 15 minute consultation costs nothing.
Practice areas
Corporate and commercial
BAX Securities Law works with Canadian and international businesses from start-ups to mid-size companies, setting up corporations, limited partnerships and trusts, drafting and negotiating shareholder and partnership agreements, and building stock option and employee incentive plans. Navraj Pannu's practice covers corporate commercial law, M&A, corporate finance and capital markets.
Capital markets and securities
Financings run from private placements and IPOs to short form and shelf prospectuses, alongside listings on the TSX, TSXV and CSE and deals such as plans of arrangement, going private transactions and contested or friendly take-over bids. Clients range from start-ups and high growth companies to multinationals and financial institutions, and Janny Cho represents issuers and investors in private offerings.
Investment funds
The firm forms funds of many kinds, among them ETFs, pooled funds, closed-end funds and REITs, and stays with private equity and venture capital sponsors from structuring and raising capital through to exits and returning money to investors. It also handles first registrations and ongoing compliance for portfolio managers, investment fund managers, exempt market dealers and individual registrants.
Crypto assets and fintech
Since 2017 BAX Securities Law has advised on digital asset and blockchain law, from structuring crypto funds to designing tokenized business models in fields such as agriculture, aviation, mortgages and real estate, and setting up frameworks for stablecoin issuance and use. Payment processors and fintech businesses get help registering with FINTRAC as a money service business, meeting its anti-money laundering rules and working within the Bank of Canada's payment processor framework.
Real estate syndication
Clients run from seasoned commercial developers and brokers to people raising money for a first real estate deal, with projects spanning office, retail, industrial, residential, condominium and healthcare property. The firm handles going public transactions for REITs and products that can be held in an RSP, such as mutual fund trusts, syndicated mortgages and mortgage investment corporations.
Financial services regulation
Banks, credit unions, insurers, pension plans and investment dealers come to the firm for regulatory advice. Mortgage lenders, administrators and brokers get help with FSRA compliance, including enhanced know your client and suitability rules and the syndicated mortgage regime.
Securities enforcement and litigation
The firm acts in compliance reviews, audits, investigations and enforcement proceedings brought by the OSC, the BCSC, CIRO and stock exchanges. It also represents clients on claims over alleged securities fraud and misrepresentation, including claims against investment dealers, advisors, fund managers, investment funds and REITs.
Artificial intelligence
BAX Securities Law helps AI start-ups and the venture capital firms backing them structure for growth, investment and scale. It also advises on privacy compliance for AI under PIPEDA, provincial privacy laws and new AI-specific privacy rules.
Good to know
Wheelchair accessible
Woman-owned
Virtual appointments
In-person servicesHow BAX Securities Law works
BAX Securities Law isn't driven by the billable hour. Its billing is value driven, a model meant to reward efficiency. The firm is also committed to building and using technology-based tools to help clients and bring their legal fees down, drawing on online client tools, its own earlier work, set legal processes, checklists and templates, and its knowledge of management systems.
Milestones & recognition
- Hendrickson has been reappointed to a third two-year term on the British Columbia Securities Commission's Fintech Advisory Forum, which advises BCSC staff on emerging fintech trends, opportunities and risks.
- As of September 1, 2026, Hendrickson is a Member-at-Large of the Ontario Bar Association's Business Law Section and Chair of its Securities Committee, having earlier served as Co-Chair of the OBA Securities Committee.
- In February 2026 Hendrickson was a guest speaker at the III Annual International Scientific and Practical Conference, Social Justice and the Digital Economy 2026: Tokenisation, hosted in part by the Ukrainian National Bar Association, speaking on how Canada regulates securitisation and tokenisation.
- Hendrickson was named as a speaker for the Ontario Bar Association's Twenty Fourth Annual OSC, TMX, and CIRO Update on September 29, 2026.
- Hendrickson received the Women's Law Association President's Award for contributions to promoting women in law, and a recognition award from the Prospectors and Developers Association of Canada for service as a board member and securities committee member.
- Hendrickson appears in the Canadian Legal Lexpert Directory for Corporate Finance & Securities, most recently in the 2025 edition, and in the 2026 edition of The Best Lawyers in Canada.
- Hendrickson is listed in the OSC's Beta Innovation Office Directory and is part of the LexisNexis Practical Guidance team for crypto assets.
In the community
- BAX Securities Law supports social causes including the Scott Mission, Sick Kids, Parkinson Canada and the Princess Margaret Cancer Centre.
- BAX Securities Law lawyers take part in the Canadian Bar Association and the Ontario Bar Association.
- In 2026 the Toronto Business Lawyers Association, which BAX Securities Law sponsors, marked its 10th anniversary. Lawyers from solo, small and mid-size firms who practise business law can join its monthly meetings, held at 9:30 am at Chefs Hall on Richmond Street West.
Affiliations & connections
- Toronto Business Lawyers Association: Barbara Hendrickson founded the association in 2016.
- BCSC Fintech Advisory Forum: Barbara Hendrickson of BAX Securities Law is a member of the British Columbia Securities Commission's Fintech Advisory Forum.
- Ontario Bar Association: Barbara Hendrickson chairs the Securities Committee of the OBA's Business Law Section.
- Women's Law Association of Ontario: BAX Securities Law sponsors professional events with the Women's Law Association of Ontario.
Lawyers 3
This firm’s lawyers at a glance
- Called to the bar
- 2002–2015 · median 17 years in practice 2 of 3 lawyers
- Languages on the roster
- Cantonese
Who handles what
Frequently asked questions
- Can BAX Securities Law help a crypto trading platform register as an investment dealer and join CIRO?
- BAX Securities Law guides crypto trading platforms through the CSA's framework for them, including what it takes to register as an investment dealer and become a CIRO member. The firm has advised on digital assets and blockchain law, including platform registration, since 2017.
- I'm a mortgage broker and FSRA says I'm not complying with the mortgage brokerage rules. Can BAX Securities Law help?
- BAX Securities Law assists mortgage brokers, administrators and agents facing an FSRA allegation of non-compliance under the Financial Services Regulatory Authority of Ontario Act or the Mortgage Brokerages, Lenders and Administrators Act.
- Can BAX Securities Law help me file a whistleblower report with a Canadian securities commission?
- BAX Securities Law helps whistleblowers who want to report to a Canadian securities commission, and people facing reprisals for blowing the whistle under securities legislation. Barbara Hendrickson has practised in this area for a number of years and is listed in Whistleblowing Canada's Ontario and British Columbia lawyers directories for whistleblowers.
- How does the founder's background at the Ontario Securities Commission shape BAX Securities Law's enforcement work?
- BAX Securities Law's founder draws on decades of experience with how the OSC reaches decisions, who its people are and how it runs enforcement, and uses that to assess a matter and map out a detailed plan to resolve it.
- What do BAX Securities Law's Legal Strategy Sessions cost beyond the free 15 minute consultation?
- BAX Securities Law offers a 15 minute consultation at no charge, a one hour session for $250 and a formal retainer for $500. (Fees as of October 2026.)
- Can BAX Securities Law help a public company avoid AI washing in its disclosure?
- BAX Securities Law helps public companies write AI disclosures specific to their business, steering clear of boilerplate and AI washing in line with CSA guidance. It also advises AI businesses on their obligations under National Instrument 51-102, including material AI risk factors and forward-looking information.
- Can BAX Securities Law set up a mortgage investment corporation?
- BAX Securities Law advises on mortgage investment entities, including mortgage investment corporations under the Income Tax Act, covering how they're structured and formed, their securities and financial services compliance, and how they raise capital.
Where to find them
30 St. Patrick Street, Suite 700, Toronto, ON M5T 3A3 · 416-601-1004
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