Aug 30, 2024 | Anti-Money Laundering, Regulatory Compliance
Reporting entities such as advisers and dealers are required by FINTRAC to monitor clients with whom they have a business relationship on an ongoing basis. One reason ongoing monitoring is required relates to the obligation to report suspicious transactions to...
Aug 30, 2024 | Anti-Money Laundering, Counter-Terrorist Financing, Mortgage and Real Estate Investment Vehicles, Regulatory Compliance
A friendly reminder to all mortgage administrators, mortgage brokers and mortgage lenders of the upcoming requirement to comply with the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (the Act) as of October 11, 2024. The requirements include the...
Jul 31, 2024 | BLG Resource Corner
Our colleagues at BLG have provided a variety of insights we thought might interest our readers: The CSA has competition: The Competition Act introduces new prohibitions on misleading environmental claims Employee ownership trusts: Business succession alternative for...
May 30, 2024 | Anti-Money Laundering, Regulatory Compliance
Professionals at AUM Law can help registered firms meet their training obligations by providing in-person or virtual training for staff, tailored to the requirements that apply to your firm, on a fixed-fee basis. We provide training on several core regulatory topics,...
Apr 12, 2024 | Anti-Money Laundering, Canadian Investment Regulatory Organization (CIRO), Regulatory Compliance
Securities dealers, including CIRO member dealers, are subject to Canada’s anti-money laundering (AML) and anti-terrorist financing (ATF) regime. Securities dealers are required to provide AML training for all staff. AUM Law provides AML/ATF training for front line...
Feb 23, 2024 | Anti-Money Laundering, Regulatory Compliance
Securities dealers are subject to Canada’s anti-money laundering (AML) and anti-terrorist financing (ATF) laws. Dealers must identify clients, establish and administer an AML/ATF compliance program, and report certain transactions to FINTRAC. Firms must also identify...
Nov 30, 2023 | Cyber-security and Data Privacy, Regulatory Compliance
This month, the Ontario Securities Commission (OSC) in collaboration with Ernst & Young LLP published its first report (the Report) on the adoption and use of artificial intelligence (AI) in Ontario’s capital markets. The Report canvasses the ways AI is currently...
Nov 30, 2023 | Events, News, Regulatory Compliance
Don’t change that dial; on November 30 AUM Law’s Chris Tooley participated as a speaker for the third year in a row at the Anti-Money Laundering and Anti-Terrorist Financing Training Session hosted by PMAC. Chris covered core concepts around money laundering and...
Oct 31, 2023 | Anti-Money Laundering, Mortgage and Real Estate Investment Vehicles, Regulatory Compliance
As noted in our June, 2023 bulletin article, the Department of Finance Canada is considering sweeping amendments to Canada’s anti-money laundering and anti-terrorist financing regime (AML/ATF regime) primarily contained in the Proceeds of Crime (Money Laundering) and...
Aug 31, 2023 | Anti-Money Laundering, Canadian Investment Regulatory Organization (CIRO), Regulatory Compliance
On August 16, the Canadian Investment Regulatory Organization (CIRO) released updated guidance relating to anti-money laundering in GN-3200-23-001 (Guidance Note). The updates to the previous guidance reflect changes in Canada’s anti-money laundering and...
Jun 30, 2023 | Anti-Money Laundering, Economic Sanctions, Regulatory Compliance
The Department of Finance Canada released a sweeping consultation paper with respect to Canada’s anti-money laundering and anti-terrorist financing regime (AML/ATF regime), including potential changes to the Proceeds of Crime (Money Laundering) and Terrorist Financing...
