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ARTICLE · 21 DECEMBER 2010

Update on Quebec Money‑Services Businesses Act

Blake, Cassels & Graydon LLP
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On December 10, 2010, the Quebec National Assembly adopted Bill 128, which enacts the Money-Services Businesses Act (the Act), among other legislative measures.

CanadaFinance and Banking
Blake, Cassels & Graydon LLP
Blake, Cassels & Graydon LLP
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Copyright 2010, Blake, Cassels & Graydon LLP

Originally published in Blakes Bulletin on Financial Services, December 2010

On December 10, 2010, the Quebec National Assembly adopted Bill 128, which enacts the Money-Services Businesses Act (the Act), among other legislative measures. As indicated in our November 2010 Blakes Bulletin on Financial Services summarizing the principal aspects of this legislation ( Quebec Proposes Licensing Regime for Money-Services Businesses), the Act introduces a licensing regime under the authority of the Autorité des marchés financiers (AMF) that will apply to the following money-services businesses:

  • currency exchange;
  • funds transfer;
  • the issue or redemption of traveller's cheques, money orders or bank drafts;

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