Yes, absolutely. Thanks. It's a great question.
Payment service providers, many of them, will be subject to both the Proceeds of Crime (Money Laundering) and Terrorist Financing Act, PCMLTFA, and the retail payment activities act. Clauses 181 to 183 require the Financial Transactions and Reports Analysis Centre of Canada to provide the Bank of Canada with information on convictions and violations under that act as part of the registration requirements under the retail payment activities act. The amendments would also provide that FINTRAC—“the Centre”—may share information with the Bank of Canada that would support the bank in terms of its oversight of payment service providers in carrying out its responsibilities.