Section 1: Multiple Choice and Yes/No Questions
Section 2: Most Pressing Concerns and Issues Members Face with Regard to Their Businesses:
Banking (3)
- Opening bank accounts for MSB
- Banking relationship – (stress/access)
- De-banking/De-risking (3)
Compliance (2)
- Adapting compliance for changing business model/relationships
Security
- Investor Risk
Employees
Industry Trends
How to use Blockchains to help MSBs
AMF Law
Pricing for small businesses/price transparency
Competition/Technology
- Cost, scalability, use across multiple locations/agents
- Hotels are offering MSB services
- Unregistered MSB services
- Potential automation
Section 3: Suggested Topics for Future Session
FINTRAC
- Expectations for STR/ASTR data from the MSB industry
Banking
- De-banking/de-risking
- What solutions would work/are working beyond de-risking
- Expectations of MSBs (BMO, RBC, DC, Luminus, etc.)
- Forming an MSB bank
Global alliance
Sharing best practices from regulators
Regulatory updates
- Forum to discuss/share with other MSBsShared MSB frontline experiences as opposed to consultants, lawyers regulators etc.
Section 4: General Comments
“Add more time to FINTRAC. Many MSBs come to the conference for that. Everyone ends up asking him questions while its other speaker’s turns [sic].”
“It was a pleasure attending for the second year in a row. As an MSB we are grateful to have an association that is looking after us. I feel membership is a must for all MSBs. Very informative, I will be back next year.”
“Despite cynical comments on the comment period for draft regulation, this will likely be a good opportunity for the MSBA to submit consolidated comments on behalf of the industry.”
