registration and licensing (fintrac, amf/revenue quebec, ficom)
Our team can help to determine your registration and licensing requirements, and then guide you through any required application process and renewal. Determining whether your business model requires registration and licensing can be complex. If you go through those processes needlessly, there can be significant unintended consequences for your financial services relationships, and may create a competitive disadvantage. It is critical to know that registration is required federally with FINTRAC for foreign fiat and crypto money services businesses (those without a physical location in Canada or a Canadian entity). The threshold for registration is low: a single Canadian client could trigger registration requirements. Certain money services business operations in Quebec or involving clients in Quebec may require a separate registration with the Autorité des Marchés Financiers (AMF) and Revenue Quebec. Covered activities include: fiat and cryptocurrency exchange, funds transfers, the issue or redemption of traveller’s cheques, money orders or bank drafts, and cheque cashing.
KEY CONTACTS
Marcelle Dadoun - Principal, Program Design and Advisory
marcelle@theamlshop.ca
LinkedIn
Marcelle Dadoun, Principal, Program Design and Advisory leads The AML Shop's compliance program design division and provides advisory support to all reporting types, including new and evolving money services businesses, payment service providers and fintech clients looking to navigate local and international regimes for registration, licensing, and regulations. Marcelle also specializes in the development and maintenance of AML policies, procedures, risk assessments and training programs. Read more.
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