ARTICLE · 07 FEBRUARY 2020

New Record Keeping Obligations Under Canada's Changing Anti-Money Laundering Regime

DLA Piper UK LLP

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On July 10, 2019, Canada's Department of Finance published comprehensive amendments (the "New ‎Regulations") to the regulations (the "Current Regulations")..

CanadaFinance and Banking

Eric Belli-Bivar

On July 10, 2019, Canada's Department of Finance published comprehensive amendments (the "New ‎Regulations") to the regulations (the "Current Regulations") made ‎‎under the Proceeds of Crime (Money ‎Laundering) and Terrorist Financing Act (the "Act"). The New Regulations are designed to strengthen ‎Canada's anti-money laundering and anti-terrorist ‎financing regime and improve compliance with the international standards set by the ‎Financial Action ‎Task Force (the "FATF"), the intergovernmental body ‎that sets standards and promotes effective ‎implementation of legal, regulatory and operational measures ‎for combating money laundering, terrorist ‎activity financing and other related threats to the integrity of ‎the international financial system.‎ ‎

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