Yearly Archives: 2019

We are hoping to do these on a more frequent basis. If you want to get plugged into more current releases and other information, we highly recommend following us on Twitter and LinkedIn as we provide lots of information, news links, and regulatory updates there as they come out. Twitter: https://twitter.com/CMSBA LinkedIn: https://www.linkedin.com/company/canadian-msb-association/ 1. Money…

According to the Quebec Budget Act 2019, the administration of the Money Service Business Act will be entrusted to Quebec Revenue from the AMF it cites this “will enable departments and bodies to better prevent the risks and more effectively combat incidents of fraud by leveraging the Sûreté du Québec's expertise in penal and criminal…

In a recent decision in the matter of Net Xpress Intl. Inc. v. Fédération des Caisses Desjardins du Québec (« Net Xpress »), the Superior Court of Quebec issued an interlocutory injunction to prevent the de-risking of a money services business by a credit union. See PDF Document: Comment-on-Net-Xpress-Case

On February 6 2019, the Superior Court of Quebec granted an injuction to reinstate a MSB into its membership rights with its credit union, following a de-risking measure that excluded the MSB on the basis of « intolerable risk ». Excerpts from a blog where accusations were made with respect to a co-owner of the…

The Bank’s new forecast calls for real economic growth of 1.2 per cent this year, 2.1 per cent next year and 2.0 per cent in 2021. For more information Click Here

Media Relations 613-782-8782 Ottawa, Ontario April 24, 2019 The Bank of Canada today maintained its target for the overnight rate at 1 ¾ per cent. The Bank Rate is correspondingly 2 per cent and the deposit rate is 1 ½ per cent. For more information Click Here

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This is a call for speakers! Hello! The Canadian Money Service Business Association (CMSBA) is excited to announce that we will once again be hosting spring training sessions in the following cities/dates; - Vancouver (May 3rd) - Montreal (May 10) - Toronto (May 24) These events are always a highlight for CMSBA members, and we…

The Canadian Money Services Business Association Announces New Executive Director

Dear members of ACMLTF, On February 21, 2019, the Government tabled its official response to the House of Commons Finance Committee’s report on recommendations to improve Canada’s anti-money laundering and anti-terrorist financing regime. The government response may be accessed at: http://www.ourcommons.ca/DocumentViewer/en/42-1/FINA/report-24/response-8512-421-468 Thank you to all those who provided submissions and shared their views on the…