James Langton
The latest effort at launching a national securities regulator may have died last month, but the federal government hasn’t given up on the dream: in Monday’s budget, the Liberals indicated plans to continue funding for the Canadian Securities Transition Office (CSTO).
Last month, the organization that was supposed to be steering the launch of a new cooperative capital markets regulator, the Capital Markets Authority Implementation Organization (CMAIO), was wound up and its staff laid off. The move seemed to acknowledge the reality that the political will required to get a new regulator off the ground doesn’t exist.
Illustration by Michael Byers, Published 14:00, Apr. 20, 2021
On March 7, 2018, Vincent Ramos was sitting alone at the Over Easy restaurant in Bellingham, Washington, just across the border from his home, in Richmond, British Columbia. He didn’t protest when a phalanx of cops marched in and arrested him. Speaking to the
Bellingham Herald, the restaurant owner said Ramos “seemed like a mellow guy.”
It’s not mentioned in the account of his arrest, but the first thing officers likely did after they cuffed Ramos was reach into his pocket and grab his BlackBerry. That device, and the network it connected to, was at the heart of a sprawling FBI indictment that accused Ramos of racketeering activity involving gambling, money laundering, and drug trafficking. But that doesn’t quite cover the scale of his operation.
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CoinSmart Appoints Joe Tosti as Chief Compliance Officer
Joe will Provide Regulatory Oversight as the Ontario Securities Commission Doubles Down on Crypto Compliance
TORONTO, Apr 16, 2021 - (ACN Newswire) - CoinSmart, a Toronto-based cryptocurrency exchange, announced it has appointed Joe Tosti to the role of Chief Compliance Officer. Joe comes with over 20 years of experience in compliance, trading, operations and wealth planning, having worked with some of the largest public institutions in Canada.
Joe s addition to the team follows the latest statement from the Ontario Securities Commission (OSC) announcing that crypto trading platforms must bring their operations as a dealer or marketplace into compliance with Ontario securities law. On March 31, CoinSmart submitted its application for registration as a dealer with the OSC and the securities regulatory authorities in all other provinces and territories of Canada. CoinSmart is also actively engaged in membership discussions wit
Canada’s anti-money laundering agency struggles to implement reforms as employees work from home Bookmark Please log in to listen to this story. Also available in French and Mandarin. Log In Create Free Account
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The federal agency responsible for tracking and preventing money laundering and terrorist financing has struggled adapting to remote work, which has affected its compliance operations and delayed the implementation of amendments to anti-money laundering regulations.
Internal documents from the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) obtained through freedom of information legislation paint a picture of substantial disruption at the agency, especially in the first few months of the pandemic, when hundreds of employees were abruptly forced to work from home.