Finance committee  Well, with the new provision, it's pretty hard to tell how often they would have information that would meet the two tests. I would think that as a sort of context-setting piece, they would probably have an initial discussion to set out what your concerns are and what kind of inf

Finance committee  No, there isn't one.

Finance committee  No.

Finance committee  I don't think so. Normally, important information is communicated as soon as possible.

Finance committee  The legislation is a very careful balance. The Proceeds of Crime (Money Laundering) and Terrorist Financing Act was designed as a very careful balance between national security and charter rights and privacy. The agency has as one of its primary objectives the protection of perso

Finance committee  Yes, that would be part of it.

Finance committee  Well—

Finance committee  As a general rule, any financial transaction, any electronic fund transfer out of the country, that is over $10,000 would have to be reported to FINTRAC.

Finance committee  You could do that. Now if you have a series of transactions, any sort of money remittance, business doesn't have to wait until the $10,000 threshold is met. They could say, wow, there are a lot of transactions going to that little town and I know that's a bit of a war zone, so t

Finance committee  The reporting requirements already exist.

Finance committee  The unregulated trusts would be a new one, but in any type of new legislation or regulation in this area, we have to balance the national security and trust against the—

Finance committee  In the current situation, if FINTRAC people have information, they can't disclose it to FINTRAC, the RCMP or anyone else who collects information. What do we call disclosure?

Finance committee  They can't communicate information that they already have in their database.

Finance committee  Yes.

Finance committee  It would be up to FINTRAC. It would have the information on hand, and it would then do its two tests: is there a threat, and do we believe from what we know that this would pose a threat to the security of Canada, and therefore that we should disclose the information? It's not go