On June 1, 2020, certain provisions of the amended regulations (Regulations) to the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) came into force. In addition, on May 18, 2020, the most recent...more
Key changes marking a significant shift in the Financial Consumer Agency of Canada’s (FCAC) enforcement powers and mandate came into force on April 30, 2020. Financial institutions will need to recalibrate their reputation...more
On March 26, 2020, the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) issued a message for reporting entities (REs) subject to the Proceeds of Crime (Money Laundering) and Terrorist Financing Act...more
On March 19, 2019, the Government of Canada released its 2019 budget plan (2019 Budget) before the federal election later this year. The 2019 Budget includes several proposals that impact federally regulated financial...more
The wait is over. On June 9, 2018, the Department of Finance (Department) released the long-awaited amendments to the regulations to the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) (Revised...more
6/13/2018
/ Canada ,
Digital Currency ,
Financial Institutions ,
Life Insurance ,
Money Laundering ,
Money Services Business ,
Prepaid Payment Products ,
Recordkeeping Requirements ,
Reporting Requirements ,
Terrorism Funding ,
Virtual Currency