BridgeForce Compliance News January 25, 2023
In this issue:
- FSRAO: Full cost reporting coming to Seg funds this spring
- Changes in BC
- Good article from ICBC on AML (Anti-Money Laundering) duties
FSRAO: Full cost reporting coming to Seg funds this spring
This was discussed at eh FSRAO Exchange event, and well-articulated in this IE article.
Further, client advocacy groups continued to make their voices heard to push for harmonization of seg fund regulations with other securities during the FSRAO event. Are you making your voice heard?
Changes in BC
- Starting March 31st, the are updates to the rules for Business Registrations as noted in this article, to avoid confusion with other insurance actors in the BC Corporate registry.
- Licence Renewal rule change during 2023 renewals where E&O and CE proof will be required, as noted here.
Good article from ICBC on AML (Anti-Money Laundering) duties
Links to guidance from FINTRAC are included in this article. Also included are links for requirements of Compliance Program and its elements (e.g., risk rating of your business), Know your client, and Reporting, among others.