Canada: regulator pushes back on tougher capital demands
17th May 2016
Canada: regulator pushes back on tougher capital demands
Canada's financial regulator is pushing back against some of the more onerous demands placed on banks since the 2007-09 financial crisis, rejecting public health checks on lenders and allowing them to operate with lower capital buffers than overseas rivals. Read More
Canada: Mutual fund regulator imposes $8M in fines and costs against W.H. Stuart principals
17th May 2016
Canada: Mutual fund regulator imposes $8M in fines and costs against W.H. Stuart principals
The Mutual Fund Dealers Association of Canada has issued fines and penalties totalling more than $8 million against two principals of now-defunct W.H. Stuart Mutuals Ltd. in relation to the misappropriation of millions of dollars of money from investors. Read More
Canada Continues Making Nice With the World By Lifting Sanctions on Authoritarian Belarus
12th May 2016
Canada Continues Making Nice With the World By Lifting Sanctions on Authoritarian Belarus
The latest stop on Canadian Prime Minister Justin Trudeau's charm offensive is the former Soviet outpost of Belarus, a state often described as "Europe's last dictatorship." Read More
USA: Owner of offshore brokerage firm pleads guilty to $250 million money laundering scheme
10th May 2016
USA: Owner of offshore brokerage firm pleads guilty to $250 million money laundering scheme
A dual U.S. and Canadian citizen and secret owner of Legacy Global Markets S.A. (Legacy), an offshore broker-dealer and investment management company based in Panama City, Panama, and Belize City, Belize, pleaded guilty Monday, to money laundering conspiracy for fraudulently manipulating the stocks of more than 40 U.S. publicly-traded companies and then laundering more than $250 million in profits through at least five offshore law firms. Read More
World Bank won’t have to hand over documents in Canadian corruption case: SCOC
29th April 2016
World Bank won’t have to hand over documents in Canadian corruption case: SCOC
The Supreme Court of Canada has ruled the World Bank has immunity under international law and won't have to hand over its documents to a Canadian court hearing a corruption case involving ex-SNC-Lavalin employees. Read More
Canadian judge clears Mike Duffy of 31 corruption charges
22nd April 2016
Canadian judge clears Mike Duffy of 31 corruption charges
A judge has cleared Canadian Senator Mike Duffy of all 31 charges in a corruption case. Read More
Canada: B.C. forms investigation team to tackle money laundering, illegal gaming
12th April 2016
Canada: B.C. forms investigation team to tackle money laundering, illegal gaming
VANCOUVER – British Columbia is attempting to crack down on money laundering at casinos with help from the province’s anti-gang police agency. Read More
Canada watchdog report: Lawyers pose money laundering risk
8th April 2016
Canada watchdog report: Lawyers pose money laundering risk
An internal report prepared for Canada's anti-money laundering watchdog last year found that lawyers are the second most likely profession after entrepreneurs to face money laundering charges. Read More
Canadian bank fined $1.1 million for failing to report suspicious transaction
6th April 2016
Canadian bank fined $1.1 million for failing to report suspicious transaction
The federal agency responsible for monitoring money laundering across the country said that it has fined a Canadian bank more than $1.1 million for failing to report a suspicious transaction, a hefty penalty that is designed to send a message of deterrence in the financial sector. Read More
Canada tells tax collectors to get hold of Panama Papers info
5th April 2016
Canada tells tax collectors to get hold of Panama Papers info
Canada’s tax collectors want to get their hands on the so-called Panama papers, a vast collection of documents that lays bare details of offshore accounts and tax shelters. Read More
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