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Interac says financial services provider Wealthsimple is set to become the first new participant under the expansion of the service.

Times: Four years after she left Downing St, Theresa May has loosened up (a bit).

On June 14, 2022, the House of Commons of Canada introduced Bill C-26, which would impose a series of cybersecurity-related obligations on designated organizations in four key federally...

JAMAICANS worried about the novel coronavirus pandemic are logging on to the Internet in ...

On April 30, 2021, as part of the 2021 federal budget, the Canadian government introduced Bill C-30, An Act to implement certain provisions of the budget tabled in Parliament on April...

On April 30, 2021, the federal government introduced An Act Respecting Retail Payment Activities (short title,  Retail Payment Activities Act) (the “RPAA”). The much-anticipated RPAA comes in response to a consultation paper published by the Department of Finance in 2017, for a “New Retail Payments Oversight Framework” (the “2017 Consultation Paper”). We discuss the 2017 Consultation Paper here. The RPAA signals the government’s continued willingness to regulate new and increa...

To print this article, all you need is to be registered or login on Mondaq.com. Payment service providers, outside of banks and other regulated financial institutions, are currently lightly regulated in Canada. Other than laws of more general application, only the federal Proceeds of Crime (Money Laundering) and Anti-Terrorism Act (PCMLTFA) and the Quebec Money Services Businesses Act specifically regulate payment providers who fall under the definition of money service...

To embed, copy and paste the code into your website or blog: As was expected and announced in Budget 2021: A Recovery Plan for Jobs, Growth and Resilience, on April 30, 2021 the federal government released Bill C-30 containing, among other things, a draft of the long-awaited Retail Payments Activities Act (RPAA). While the devil will be in the detail of the implementing regulations, much can be gleaned from a review of the provisions of the RPAA as drafted. The new regulatory payments regime, ...