MT Fintech

The final "Retail Payment Activities Regulations" in respect of the Retail Payment Activities Act (RPAA) have been issued, setting forth the requirements that will apply to payment service providers in Canada: mccarthy.ca/en/insights/blog… #fintech

The 2023 Fall Economic Statement has been released, which includes several measures aimed at the financial services sector, including #Fintech. Check out our summary of relevant changes here: mccarthy.ca/en/insights/blog…

Dozens of Fintech leaders, frustrated by delays, called on the federal government to move ahead with open banking: advisor.ca/industry-news/ind… #fintech

Ontario introduces a new Consumer Protection Act - check out our summary of the changes here: mccarthy.ca/en/insights/blog…

An opportunity for entrepreneurs: why many are calling Alberta "Delaware North" after changes to its Business Corporations Act: theglobeandmail.com/business… #fintech

OSFI has issued a draft Integrity and Security Guideline to require FRFIs to establish policies and procedures to "protect themselves from threats to their integrity and security, including foreign interference”, starting Jan 1, 2024: mccarthy.ca/en/insights/blog… #fintech

The federal government has launched consultations to lower the criminal rate of interest under the Criminal Code to 35% - check out our summary here: mccarthy.ca/en/insights/blog… #fintech

The changes will make businesses in the mortgage lending and armoured car sectors FINTRAC reporting entities, and certain reporting entities (mainly financial entities) will now finance FINTRAC operations under a new funding model: mccarthy.ca/en/insights/blog… #fintech #AML

Dept of Finance Canada has launched financial sector legislative review consultations with respect to federally regulated financial institutions statutes including the Bank Act, the Insurance Companies Act, and the Trust and Loan Companies Act: mccarthy.ca/en/insights/blog… #fintech

Canadian Securities Administrators publish Staff Notice 21-333, starting the countdown on new restrictions to be imposed on crypto asset trading platforms that trade stablecoins: mccarthy.ca/en/insights/blog… #fintech

The guidance is intended to clarify when trust corporations, including #crypto custodians, need to register with the FRSA, and to address regulatory gaps with respect to trust corporations holding consumer’s crypto assets: mccarthy.ca/en/insights/blog… #fintech

National Bank emerges as the successful bidder for SVB's Canadian branch: theglobeandmail.com/business… #fintech

Wondering about the difference between the Federal Reserve’s new instant payments service, FedNow, and Real-Time Payments (RTP)? forbes.com/sites/quora/2023/… #fintech

The Financial Consumer Agency of Canada (FCAC) has issued guidelines on measures to be taken by financial institutions for residential mortgages held by consumers at risk of default due to severe financial distress caused by current economic conditions: mccarthy.ca/en/insights/blog…

Happy Canada Day! We wish our followers a sunny and enjoyable long weekend! #CanadaDay

The federal government has launched public consultations on potential changes to Canada's AML/ATF regime, which proposes considerable expansion to the number of reporting entities overseen by FINTRAC: mccarthy.ca/en/insights/blog…

A backgrounder on the SEC's latest enforcement actions against #crypto: wsj.com/articles/secs-gary-g… #fintech

Binance said it does not agree with the latest guidance and hopes to engage with Canadian regulators to create a comprehensive framework for #crypto operations in the country: reuters.com/technology/binan… #fintech

OSFI publishes Third-Party Risk Management Guideline (B-10) which sets out risk management expectations for Federally Regulated Financial Institutions. FRFIs increasingly rely on third parties in ways that can impact operations and financial resilience: osfi-bsif.gc.ca/eng/osfi-bsi…

OSFI has published a news release announcing the launch of initial consultations on international recommendations related to #stablecoins: mccarthy.ca/en/insights/blog… #fintech