About: CMSBA

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NEW REGULATOR FOR MSBs IN QUEBEC: As of September 13, 2021 the Autorité des marchés financiers has ceased to deal with MSB applications and other MSB oversight matters, as this responsibility has been transferred to Revenue Quebec (RQ). Some information on the revised MSB license application process (including new forms) is available on RQ’s website…

June 1, 2021, has come and gone and while many of the RE's and MSBS have felt the relief for implementing changes by Dec1, 2021, it doesn’t mean that they should be resting on our laurels. In this session, we will be discussing the coming into force for the LVCTR, EFT changes, and Travel Rule,…

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Recent FINTRAC exams challenges on Reasonable Grounds to Suspect

On May 4, 2021, FINTRAC published its “Publication of updated and new guidance” that referenced webpage updates on Compliance Program Requirements, 3rd Party, PEP FAQ, reporting, FMSB, and so much more.  Through a CMSBA request and response from FINTRAC, those that were most important are listed below.  As a Regulated Entity, it would be wise to read these…

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Re: Seeking a nine-month deferral of the Coming into Force dates for selected changes to the PCMLTFR1 and PCMLTFRR2 Rationale: To give FINTRAC and Reporting Entities (RE) the opportunity to provide adequate notice for Canada to align with international standards and expectations Read more

The Canadian MSB Association Spring Training Session is back! The spring training session will take place over two half days and will give you a chance to learn and find out what is new in the industry while learning new subjects that will help your business from the comfort of your home! Our platform will…

Does the thought of writing a Suspicious Transaction Report (STR) to FINTRAC make you nervous? Is the concept of reasonable grounds to suspect (RGS) keeping you up at night? Are you frustrated by the required fields? What makes a bad STR and how can you ensure your STR gets read and actioned? STRs can leave…