Finance committee  FINTRAC analyses all reported transactions; there is no $1 million threshold and some such thing. I repeat, FINTRAC analyses all reported transactions, and there is no threshold in place. Perhaps CRA officials can respond directly to your question.

Finance committee  Thank you, Mr. Chairman. Just to clarify for members of the committee, the Canada Revenue Agency right now is permitted under the law to submit a voluntary information report to FINTRAC where it is already investigating a case of potential tax evasion. FINTRAC then would do its

Finance committee  Similar to the previous amendment, we would recommend adding back in proposed section 6.1 for the client ID requirements at the end of that section.

Finance committee  Sure. Briefly, I think what we would say is we would be prepared to accept this motion with one small change. Part (a) is acceptable as it makes a necessary technical change, in our opinion. But on the last line of that motion, we would ask that it now read “with the requirement

Finance committee  I'll ask Mr. Jalbert to answer that.

Finance committee  Yes, it does.

Finance committee  That's right.

Finance committee  Paragraph (b), but not paragraph (a).

Finance committee  What we can do is give you essentially a full account of where we are on each recommendation.

Finance committee  Sure, absolutely.

Finance committee  All of the submissions we've received, where we got the okay, were posted on the Department of Finance website, and I believe they're still available on that website.

Finance committee  Most of the submissions deal with details of implementation—how you actually tailor these kinds of recommendations to the existing business practices of the reporting entities. They're really on the technicalities of implementation more than on the legislation. But in terms of

Finance committee  Absolutely. They're on the front lines of this fight, and they are absolutely willing partners in this fight. They understand the risks and vulnerabilities of not taking this seriously. It's a reputational issue for them as much as anything else, so it's real bottom-line dollars

Finance committee  I'll let Monsieur Jalbert—

Finance committee  In terms of what's in the legislation, what I want to be clear on is the combination of the legislation and the regulations that will come pursuant to this legislation. The vast majority of the recommendations will then have been taken into account. As I mentioned, there are a