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Canada Financial Transactions

American Conference Institute (ACI)

[Event] 24th Annual Canadian Forum on Anti-Money Laundering and Financial Crime - June 25th - 26th, Toronto, ON, Canada

Canada’s financial sector is facing unprecedented scrutiny, rising enforcement, and evolving compliance risks – are you ready? Join top regulators and industry leaders at CI's 24th Annual Canadian Forum on Anti-Money...more

Stikeman Elliott LLP

Reminder for Certain Retail Payment Service Providers: Register by November 15, 2024 before the 15-day RPAA Application Window...

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Canada’s new Retail Payment Activities Act (the “RPAA”), which governs Payment Service Providers (“PSPs”), requires registration with the Bank of Canada (the “BoC”) within a registration window that runs from November 1, 2024...more

Stikeman Elliott LLP

Sanctions Evasion: Canada Takes Aim with New FINTRAC Reporting Requirements for Reporting Entities

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Reporting entities under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) will soon be subject to a new requirement to report transactions suspected to be related to sanctions evasion to the...more

Bennett Jones LLP

A New Chapter in Canada Ukraine Free Trade Opens with Modernized CUFTA

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On March 19, 2024, Bill C-57, An Act to implement the 2023 Free Trade Agreement between Canada and Ukraine (the New CUFTA) received royal assent, introducing a modernized version of the Canada-Ukraine Free Trade Agreement....more

Stikeman Elliott LLP

Federal Court of Appeal Confirms Tax Court of Canada’s Decision: Supply of Right to Place and Operate ATMs is a Taxable Supply

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On June 8, 2023, the Federal Court of Appeal upheld a Tax Court of Canada decision that, by allowing a supplier of Automated Teller Machines (“ATMs”) to place and operate ATMs throughout its casino resort, a casino operator...more

Blake, Cassels & Graydon LLP

Entrée en vigueur de modifications clés à la législation canadienne sur les sanctions

Le 22 juin 2023, la Loi no 1 d’exécution du budget de 2023 a reçu la sanction royale. Cette nouvelle loi apporte plusieurs modifications importantes à la législation canadienne sur les sanctions, lesquelles touchent les...more

Blake, Cassels & Graydon LLP

Key Amendments to Canadian Sanctions Legislation Now in Force

On June 22, 2023, the Budget Implementation Act, 2023, No. 1 received Royal Assent. The new legislation enacted several key amendments to Canadian sanctions legislation, which impact regulated financial institutions and...more

Bennett Jones LLP

New Legislation Will Require Money Services Businesses in British Columbia to Register

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In June 2022, we summarized the key recommendations that came out of the Final Report of the Cullen Commission in our blog, The Cullen Commission Releases Its Final Report on Money Laundering in British Columbia—Key...more

Bennett Jones LLP

The Cullen Commission Explores the Issue of Money Laundering Through Virtual Assets

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In June 2022, the Final Report of the Commission of Inquiry into Money Laundering in British Columbia was published. As previously reported by us in The Cullen Commission Releases Its Final Report on Money Laundering in...more

Bennett Jones LLP

Anti-Money Laundering Rules Expanded to Include Payment Service Providers and Crowdfunding Platforms

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Payment service providers and crowdfunding entities that were not previously subject to anti-money-laundering (AML) and anti-terrorist financing (ATF) legislation in Canada should be aware of changes that came into force...more

Bennett Jones LLP

The Cullen Commission Releases Its Final Report on Money Laundering in British Columbia—Key Takeaways

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On June 15th, 2022 the Commission of Inquiry into Money Laundering in British Columbia released its highly-anticipated Final Report which comes after years of work and a review of extensive evidence, including testimony from...more

Stikeman Elliott LLP

Disclosure Obligations Under Canadian Economic Sanctions and Anti-Terrorism Laws: A Primer

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In this post we discuss disclosure obligations under Canadian economic sanctions and anti-terrorism laws, including in respect of financial services providers. As discussed below: There are disclosure obligations...more

Stikeman Elliott LLP

Canada Imposes Another Round of Sanctions on Russia in Response to the War in Ukraine

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On February 28, 2022, Canada imposed another round of sanctions on Russia in the wake of its invasion of Ukraine. The new sanctions are now effective. They were imposed under the Special Economic Measures Act by way of...more

Bennett Jones LLP

Canadian Sanctions Targeting Russia, Belarus and Separatist Territories in Ukraine Expanded in Response to the Russian Invasion of...

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On February 21, 2022, Russia formally recognized the purported independence of two regions in Eastern Ukraine, Donetsk and Luhansk. The next day it ordered Russian troops into the separatist-occupied territories, and the...more

American Conference Institute (ACI)

[Virtual Event] Anti-Money Laundering and Financial Crime - May 4th - 5th, 9:45 am - 5:15 pm EST

The Canadian Institute’s 20th Canadian Annual Forum on AML and Financial Crime is a curated program, dedicated to addressing pressing industry challenges through in-depth analysis of the financial crime landscape and industry...more

Dickinson Wright

The Effect of Canada's Revised Anti-Money Laundering Rules on Casino Operators

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On July 10, 2019, the Regulations Amending Certain Regulations Made Under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (the “Amending Regulations”) were formally released in the Canada Gazette. The...more

Blake, Cassels & Graydon LLP

New Guidance from FINTRAC: Expanding Suspicious Transaction Requirements

The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) recently updated its industry guidance in respect of suspicious transaction reporting (Guidance) and released: Transaction reporting requirements...more

Bass, Berry & Sims PLC

OFAC Sanctions: No Entity Too Small or Too Far for Enforcement

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- Canadian bank pays penalties for U.S. dollar transactions involving Cuba and Iran - Bank receives Finding of Violation – but no penalty – for violations by European subsidiaries - Disclosure and cooperation...more

Blake, Cassels & Graydon LLP

Amendments to Canada’s Anti-Money Laundering Legislation: The First Step

On June 17, 2016, the federal government quietly released the final version of the long-awaited amended general regulations (Regulations) under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA)....more

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