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In June 2022, we summarized the key recommendations that came out of the Final Report of the Cullen Commission in our blog, The Cullen Commission Releases Its Final Report on Money...
British Columbia Bill 19: Money Services Businesses Act MSBA received Royal Assent on May 19, 2023. As a result, money services businesses MSBs in British Columbia will soon be subject to greater oversight by the British Columbia Financial Services Authority. Under the MSBA, MSBs are non-bank entities that provide transfer and exchange services, such as transmitting or exchanging funds and issuing or redeeming money orders.