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Declaration of Emergency committee  Apart from the information about the number of accounts that were frozen and discussions concerning requests for meetings, there were no other written exchanges of information.

May 3rd, 2022Committee meeting

Julien Brazeau

Declaration of Emergency committee  We can look into whether any notes were taken, but most were just everyday discussions.

May 3rd, 2022Committee meeting

Julien Brazeau

Declaration of Emergency committee  We can look to see what we have and work with the Privy Council about giving you any of the documents.…

May 3rd, 2022Committee meeting

Julien Brazeau

Declaration of Emergency committee  As it's a matter of disclosure, we will have to comply with the processes established with the committees to provide this information.

May 3rd, 2022Committee meeting

Julien Brazeau

Declaration of Emergency committee  I'll add briefly, in terms of policy going forward, you might have noted in budget 2022 that the government announced it would be undertaking a financial sector policy review. Part of that policy review is going to be targeted at the future of money and looking at crypto, specifi

May 3rd, 2022Committee meeting

Julien Brazeau

Declaration of Emergency committee  Yes. My colleague at FINTRAC can speak to the specifics of their oversight, and we can speak to the higher level crypto policy going forward.

May 3rd, 2022Committee meeting

Julien Brazeau

Declaration of Emergency committee  Apologies. I was just saying that, from a financial sector policy perspective, we weren't part of any discussions on the broader economic impacts of what was happening at the border. I would be speculating, but I would expect that discussions were taking place within the departm

May 3rd, 2022Committee meeting

Julien Brazeau

Declaration of Emergency committee  Again, the reporting requirements are specific to the proceeds of crime, money laundering and terrorist financing, which is a federal regime. The registration requirement is with FINTRAC for purposes of PCMLTFA, so there is no overlap with any other registration requirements that

May 3rd, 2022Committee meeting

Julien Brazeau

Declaration of Emergency committee  I can't speak specifically, necessarily, to what countries were facing at the time. I can say that Canada is part of what we call the Financial Action Task Force, which is the body that sets standards around anti-money laundering and anti-terrorist financing. That body has identi

May 3rd, 2022Committee meeting

Julien Brazeau

Declaration of Emergency committee  I'll have to take a look and circle back to confirm whether they have a report that we can share.

May 3rd, 2022Committee meeting

Julien Brazeau

Declaration of Emergency committee  I'm might ask my colleagues at FINTRAC to speak directly to that, given that they oversee compliance on a going-forward basis.

May 3rd, 2022Committee meeting

Julien Brazeau

Declaration of Emergency committee  Sure. In terms of sort of the international reach, we became aware through media reports of the fact that potential U.S. funds were being used. In regard to the measures that were put in place for crowdfunding platforms and PSPs, they apply equally to firms that are domiciled

May 3rd, 2022Committee meeting

Julien Brazeau

Declaration of Emergency committee  No. I'm sorry. I shouldn't have given any sense of nuance to that—

May 3rd, 2022Committee meeting

Julien Brazeau

Declaration of Emergency committee  No, I haven't had any discussions with U.S. counterparts since.

May 3rd, 2022Committee meeting

Julien Brazeau

Declaration of Emergency committee  Briefly, essentially the new regulations made permanent what was contained in the emergency measures, in terms of the obligations on crowdfunding platforms and payment service providers to register and to disclose suspicious transaction, and also put on them heightened responsibi

May 3rd, 2022Committee meeting

Julien Brazeau