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Finance committee A number of things would impact that small law firm. The first, and I think the most important, from that example is that law societies on their own have imposed a cash prohibition rule on lawyers so that they cannot accept large amounts of cash. They can't accept more than $7,50
October 31st, 2006Committee meeting
Diane Lafleur
Finance committee I'm not sure what your reference is to four changes.
October 31st, 2006Committee meeting
Diane Lafleur
Finance committee At a very high level, those are the key components.
October 31st, 2006Committee meeting
Diane Lafleur
Finance committee I think what the honourable member was referring to is the fact that the Proceeds of Crime (Money Laundering) Act was, post-September 11, 2001, amended by the Anti-terrorism Act to add a terrorist financing mandate to FINTRAC's existing money laundering mandate. The Anti-terroris
October 31st, 2006Committee meeting
Diane Lafleur
Finance committee Yes, it was budgeted for. The funds required to implement these initiatives were allocated in budget 2006. That's the $64.4 million over two years that was referred to.
October 31st, 2006Committee meeting
Diane Lafleur
Finance committee Yes, she has been consulted. There have been a number of meetings with the Office of the Privacy Commissioner, but I would let her speak for herself.
October 31st, 2006Committee meeting
Diane Lafleur
Finance committee We have maintained that we believe there are already very strong privacy concerns in the legislation.
October 31st, 2006Committee meeting
Diane Lafleur
Finance committee No, it's not.
October 31st, 2006Committee meeting
Diane Lafleur
Finance committee It's not.
October 31st, 2006Committee meeting
Diane Lafleur
Finance committee What Ms. Ablonczy has already mentioned is that in order to share information with its partners, FINTRAC must enter into a memorandum of understanding that must be approved by the Minister of Finance. One of the key pieces of the memorandum of understanding is to ensure that ther
October 31st, 2006Committee meeting
Diane Lafleur
Finance committee If you're asking me if it's actually specifically in the bill, what I'm saying is that there's a memorandum of understanding that must be approved by the minister, and it makes the privacy protection provisions a key component so that the information cannot be shared.
October 31st, 2006Committee meeting
Diane Lafleur
Finance committee We have not made any changes in respect to the privacy side.
October 31st, 2006Committee meeting
Diane Lafleur
Finance committee FINTRAC is already subject to extensive oversight and reporting requirements. It tables an annual report in Parliament, as you know. It submits a departmental performance report annually, a report on planning and priorities. It's subject to the privacy legislation. It has to repo
October 31st, 2006Committee meeting
Diane Lafleur
Finance committee I can't answer that question. That's a question for the Senate.
October 31st, 2006Committee meeting
Diane Lafleur
Finance committee I don't want to prejudge the outcome of the Financial Action Task Force evaluation, so that's a tough question for me. There are challenges that are unique for Canada among its FATF partners. We have much stricter privacy laws in Canada, for example. And the charter sometimes imp
October 31st, 2006Committee meeting
Diane Lafleur