Share on LinkedInShare on LinkedIn

ARTICLE · 12 APRIL 2022

Budget 2022 – AML/ATF Regulatory Measures

Cassels
Explore more from Cassels

On April 7, 2022, the Government of Canada tabled Budget 2022. The following is a summary of key anti-money laundering and anti-terrorist financing related measures.

CanadaGovernment, Public Sector
Suhuyini Abudulai
Suhuyini Abudulai
Author LinkedIn connections

On April 7, 2022, the Government of Canada tabled  Budget 2022. The following is a summary of key anti-money laundering and anti-terrorist financing related measures.

ALL MORTGAGE LENDERS TO BECOME SUBJECT TO AML/ATF REQUIREMENTS

All mortgage lending businesses will become subject to the anti-money laundering (AML) and anti-terrorist financing (ATF) requirements of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA). Budget 2022 acknowledges the growth over the last few years in mortgages issued by lenders that are not regulated under the PCMLTFA. Currently, these AML/ATF requirements apply only to prescribed entities under the PCMLTFA, such as banks.

We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.

Register for freeORLog in

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

View source

Related Articles

Legal Intelligence Newsletters: sign up for the latest legal and regulatory news on your chosen topics

Read more about

See more popular content from

Article

New Act Respecting Contracting By Municipal Bodies: How To Secure Your Bids

Effective April 1, 2026, Quebec's Act respecting contracting by municipal bodies fundamentally transforms how municipal contracts are awarded, moving beyond the traditional lowest-price model to embrace qualitative evaluation criteria including environmental practices, life cycle costs, and contractor performance history. Municipal bodies now have eight award procedures to choose from, along with new pre-tender processes that can limit competition to prequalified enterprises. Contractors must adapt their te
CanadaGovernment, Public Sector
BCF Business Law
BCF Business Law
Article

Building Canada: Investing In Major National Projects

Canada is experiencing a surge in infrastructure investment driven by streamlined regulatory approvals, enhanced government financing mechanisms, and growing demand for energy and digital infrastructure. This guide examines the evolving legal and regulatory landscape that foreign investors must navigate to successfully structure, finance, and develop major projects across the country.
CanadaGovernment, Public Sector
Blake, Cassels & Graydon LLP
Blake, Cassels & Graydon LLP
Article

Buying Quebec, Buying Canadian: What The New Orders In Council 1358-2026 And 1359-2026 Mean For Procurement

Under Order in Council 1358-2026, the Québec government authorizes, from September 7, 2026 to January 31, 2027, the Centre d'acquisitions gouvernementales (the “CAG”) to depart from the general principle that public calls for tenders must be open and without discrimination to foreign suppliers from jurisdictions bound by an intergovernmental agreement with Québec.
CanadaGovernment, Public Sector
Fasken
Fasken
Article

Building Momentum: Canada Advances Major Projects Under The Building Canada Act

The federal government has published notices proposing to add the Mackenzie Valley Highway and Roberts Bank Terminal 2 to Schedule 1 of the Building Canada Act as projects of national interest. These potential listings, following a similar notice for the West Coast Oil Pipeline, provide the first practical indications of how the government may use the Act to advance major infrastructure projects through streamlined federal approvals while maintaining Indigenous consultation and environmental assessment requ
CanadaGovernment, Public Sector
McMillan LLP
McMillan LLP
Article

Appels d'offres publics : ce que tout entrepreneur doit savoir avant de soumissionner

Navigating public procurement in Quebec requires strict adherence to formal requirements that can make or break a bid. Understanding the distinction between eligibility criteria and compliance requirements, knowing which irregularities trigger automatic rejection versus those that can be corrected, and maintaining proper authorization from the Autorité des marchés publics are essential elements that determine whether your submission will even be considered.
CanadaGovernment, Public Sector
BCF Business Law
BCF Business Law
Article

Canada Announces New Counter-Tariffs And Support Measures Following US Tariff Actions

Canada has announced sweeping counter-tariffs ranging from 15% to 50% on approximately C$27.6 billion of US imports, effective September 8, 2026, in direct response to President Trump's 50% Section 338 tariffs on Canadian goods. The measures target key sectors including steel, aluminum, dairy, appliances, and electronics, while the federal government simultaneously rolls out C$7.5 billion in support for affected businesses and workers. Understanding whether products qualify as US goods under Canada's markin
CanadaInternational Law
Cassels
Cassels
Article

Cassels On Competition: October 2026

More particularly, the Plaintiff had argued that the drip pricing provision in subsection 52(1.3) of the Competition Act requires “all-inclusive pricing” and forbids all forms of “fragmented or segmented pricing,” and that Ticketmaster’s partitioned price representations are thus prohibited as a criminal conduct and amount to false or misleading representations covered by the criminal misleading advertising provision in section 52
CanadaAntitrust/Competition Law
Cassels
Cassels
Article

Bill C-39: A New Era For Canadian Mining Project Approvals?

The Canadian government has introduced Bill C-39, the Building Canada Strong Act, proposing sweeping reforms to federal project approval processes that could fundamentally reshape mining project development and financing. The legislation aims to consolidate multiple federal reviews into a single coordinated process with a one-year decision timeline, while maintaining environmental protections and Indigenous consultation requirements.
CanadaGovernment, Public Sector
Cassels
Cassels
Article

New Can-Do CANDU Energy: Bill C-39 Looks To Reduce Regulatory Burdens And Streamline The Development Of Nuclear Projects In Canada

Bill C-39, the Building Canada Strong Act, proposes significant reforms to Canada's nuclear regulatory framework by restoring impact assessment authority to the Canadian Nuclear Safety Commission and introducing streamlined approval processes. The legislation aims to reduce regulatory duplication, permit preliminary construction activities before final project approval, and establish more constrained timelines for nuclear project assessments. Will these measures be sufficient to support the ambitious growth
CanadaEnergy and Natural Resources
Cassels
Cassels
Article

Canada’s September 2026 Retaliatory Tariffs Against The US: Implications For Mining Equipment Importers And Available Tariff Relief

Canada's September 2026 retaliatory surtaxes on US-origin goods introduce new cost pressures for mining operations that depend on specialized American equipment and components. While public focus has centered on consumer products, the measures significantly affect machinery, drilling tools, and industrial inputs critical to mining operations. However, existing remission provisions may already provide relief for many mining-sector imports, creating opportunities to mitigate tariff exposure through careful cl
CanadaInternational Law
Cassels
Cassels