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Articles by Ross McGowan
New Federal Requirements For A Corporate Beneficial Ownership Registry On The Horizon
In March 2023, Industry Minister Francois-Philippe Champagne tabled legislative amendments regarding the creation of a Canadian corporate beneficial ownership registry. The proposed amendments, which recently passed the second reading in the House of Commons,1 apply to entities incorporated under the Canada Business Corporations Act (the CBCA). Non-compliance with the proposed amendments will carry significant administrative sanctions or criminal penalties.
British Columbia's Money Services Businesses Act Receives Royal Assent - Money Laundering - Canada
On May 11, 2023, British Columbia's Money Services Businesses Act (BC MSB Act) received royal assent. The BC MSB Act will be the province's first statute of this kind and will be administered by the British Columbia Financial Services Authority (BCFSA). BCFSA will appoint a Superintendent of Money Services Businesses (MSBs) to spearhead this new mandate and has stated it expects to regulate 578 MSBs operating in the province.
British Columbia’s Money Services Businesses Act receives royal assent
On May 11, 2023, British Columbia’s Money Services Businesses Act (BC MSB Act) received royal assent. The BC MSB Act will be the province’s first statute of this kind and will be administered by the British Columbia Financial Services Authority (BCFSA). BCFSA will appoint a Superintendent of Money Services Businesses (MSBs) to spearhead this new mandate and has stated it expects to regulate 578 MSBs operating in the province.
More Climate Change Related Litigation Against Insurance Brokers
Canada: More Climate Change Related Litigation Against Insurance Brokers 04 November 2021 by Ross McGowan and Ingrid Vanderslice Borden Ladner Gervais LLP Your LinkedIn Connections with the authors To print this article, all you need is to be registered or login on Mondaq.com. Background. Wild fires. Wind storms. Floods. Drought. Rising sea levels. Hail and ice storms. Heat waves. Everyone, everywhere will feel the impacts of climate change.
Provincial And Federal Financial Institution Regulation – 2020 In Review - Finance and Banking - Canada
Canada: Provincial And Federal Financial Institution Regulation – 2020 In Review 08 February 2021 by Ross McGowan , Cindy Zhang and Jason Uswak Borden Ladner Gervais LLP Your LinkedIn Connections with the authors To print this article, all you need is to be registered or login on Mondaq.com. Although 2020 saw some disruption and slowdown in activity across all industries, there were several regulatory changes to financial institutions at the provincial and federal levels throughout the year.
Coffee Break With BLG : Session 2
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BC Financial Services Authority's Rule-making Powers And Procedure Now In Force
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Html.Raw(Financial Institution Regulation – 2019 Year In Review - Government, Public Sector - Canada)
To print this article, all you need is to be registered or login on Mondaq.com. In 2019, there were numerous changes to financial institution regulations in Canada. British Columbia in particular saw a significant change in its regulatory framework through the passing of Bill 37. This article provides a recap of some of the major changes that financial institutions should keep in mind in 2020.
BCFSA: Changing BC's Regulatory Framework For Financial Institutions
To print this article, all you need is to be registered or login on Mondaq.com. On November 20, 2019, the Legislative Assembly of British Columbia passed the third reading of the newly introduced Bill 37, the Financial Institutions Amendment Act, 2019 (Bill 37), which received royal assent on November 28, 2019. The purpose of Bill 37 is to modernize the legislative framework, enhance consumer protections and help maintain public confidence in BC's financial institutions.
Steep Drop In Consumer Confidence Erases Majority Of Post-Election Gains
Consumer confidence fell nearly 3.0 points to 49.9, its lowest level since November 15, 2016, according to the HPS-CivicScience Economic Sentiment Index (ESI). Confidence in the economy had been increasing steadily since October 2016, rising in six of the previous seven readings.
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