UPCOMING: AN ANALYSIS OF CANADA’S NEW REGULATIONS AND THE IMPACT ON COMPLIANCE FUNCTIONS
AN ANALYSIS OF CANADA’S NEW REGULATIONS AND THE IMPACT ON COMPLIANCE FUNCTIONS
As they say, when it rains it pours. And for Canadian AML professionals a veritable monsoon of changes are in store. Besides the challenges of the global pandemic, the amended Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) is bringing new reporting and record keeping requirements starting June 1. FINTRAC is set to update its reporting forms – the final details of which are yet unknown. Meanwhile, there are added reporting obligations for foreign MSBs and prepaid payment products, and extensions of virtual currency and beneficial ownership obligations for all reporting entities. Join our experts for an insightful discussion on the regulatory changes ahead and what it means for Canada’s compliance community.