FINTRAC has clarified a key question: existing cheque cashers awaiting MSB registration renewal can continue operating, but new cheque cashing businesses must wait until registration is approved before starting operations. The statement also includes language MSBs can use in discussions with partners while delays persist. [More info here]
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Possible Technical Issue: MSB Registration Renewals
After raising concerns about missing MSB registration renewals, the CMSBA received clarification from FINTRAC on a possible cause: some forms may have been misrouted due to interim webform limitations. While only a small number of cases are believed to be affected, FINTRAC has since updated the form structure and now provides a confirmation ID at…
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