3rd August 2017
We are beginning to see the legal enforcement fallout from the now infamous Panama Papers. Canada Revenue Agency’s (CRA) concerted efforts to find undeclared offshore money and assets is moving into full gear. In addition to pursuing typical civil audits, the CRA is now executing search warrants and launching criminal… Read More
28th July 2017
New Canadian banking rules that took effect July 1 are a “game changer” that could help governments in Victoria and Ottawa fight real estate tax scams exploited by foreign buyers, says a prominent B.C. immigration lawyer. As of July 1, Canadian banks must confirm detailed information on non-resident clients —… Read More
19th July 2017
Federal Finance Minister Bill Morneau says secret corporate ownership in Canada will soon end with new rules compelling Canadian company owners to reveal themselves in government filings — a public policy move widely viewed as crucial in the battle against tax evasion and money laundering. But he would not commit… Read More
12th July 2017
A Law Society of B.C. disciplinary hearing descended Tuesday into acrimony and occasional raised voices over the regulatory body’s ability and willingness to police money laundering. Kenneth McEwan, a lawyer for the society, rebuked media comments made by Donald Gurney and said they raised a serious question about rehabilitating the… Read More
11th July 2017
Less and less money is leaving China by the day. June numbers from the People’s Bank of China (PBoC) show that foreign exchange reserves rose once again. The number was just a slight increase, but the PBoC announced new anti-money laundering measures that will likely mean even less money will… Read More
5th July 2017
In line with the presidential decree, the Russian government extended the embargo on certain types of food from countries that had imposed sanctions on Russia, according to a document, published on the Russian government’s website on Wednesday. A ban on imports of certain types of agricultural products, raw materials and… Read More
2nd June 2017
An Ontario regulator says it will not be disciplining 43 of the 45 mortgage brokers and agents that mortgage lender Home Capital cut ties with over allegations they falsified loan applications. The Financial Services Commission of Ontario said last week it had disciplined a mortgage broker and an agent after… Read More
29th May 2017
The White House moved Friday to calm an exasperated world after a close adviser to President Donald Trump suggested the U.S. was considering easing sanctions on Russia. The suggestion, made Thursday aboard Air Force One by Gary Cohn, the president’s top economic adviser, had roiled already tense conversations at the… Read More
19th May 2017
Russia is warning Canada the adoption of a Magnitsky-style law would result in a significant blow to bilateral relations, while a prominent Russian dissident commends Ottawa’s decision to support sanctions against human-rights abusers worldwide. In a statement published Thursday, the Russian Foreign Ministry condemned an announcement by Canadian Foreign Affairs… Read More
18th May 2017
Canada’s government decided Wednesday to create legislation to expand the country’s international sanctions law to target gross human rights violators, Foreign Minister Chrystia Freeland told Parliament. A Parliament committee agreed last month to support amending Canada’s sanctions rules to include rights violators, acting in honor of the Russian whistleblower Sergei… Read More