COMPLIANCE
Canada Lobbies for Overhaul in Crime Reporting
Canadian banks have not had a good time when it comes to anti-money laundering.
The Canadian Bankers Association is lobbying the Canadian Government to overhaul and get rid of the current system that banks use to report suspicious activity like money laundering and follow the system used in the U.S. and U.K.
Supporters of this change believe moving to this kind of system would improve Canada’s money laundering enforcement.
COMPLIANCE
Canadian Fintechs Face More Regulation
In efforts to see better regulation of the Fintech industry, starting this November, payment service providers in Canada are required to register with the Bank of Canada.
Fintech companies have largely operated with little to no oversight in Canada compared to other financial institutions.
MARKETS
Tokyo Stock Exchange Extends Trading Hours
The Tokyo Stock Exchange (TSE) is extending its daily trading hours by 30 minutes starting from November 5.
The extended trading hours is in the hopes to make it more convenient for investors and give the market a boost.
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