{"id":15058,"date":"2019-05-30T16:58:38","date_gmt":"2019-05-30T20:58:38","guid":{"rendered":"https:\/\/insurance-journal.ca\/article\/iiroc-and-fintrac-enhance-cooperation-to-combat-money-laundering\/"},"modified":"2019-05-30T16:58:38","modified_gmt":"2019-05-30T20:58:38","slug":"iiroc-and-fintrac-enhance-cooperation-to-combat-money-laundering","status":"publish","type":"post","link":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/2019\/05\/30\/iiroc-and-fintrac-enhance-cooperation-to-combat-money-laundering\/","title":{"rendered":"IIROC and FINTRAC enhance cooperation to combat money laundering"},"content":{"rendered":"\n<div><img decoding=\"async\" src=\"http:\/\/insurance-journal.ca\/media\/photologue\/photos\/photo_web_2161.png\" class=\"ff-og-image-inserted\"><\/div>\n<p>The <strong>Investment Industry Regulatory Organization of Canada<\/strong> (IIROC) and the <strong>Financial Transactions and Reports Analysis Centre of Canada<\/strong> (FINTRAC) announced on May 30 a Memorandum of Understanding that has the goal of better protecting against money laundering and terrorist financing while reducing the compliance burden on investment firms.<\/p>\n<p>The Memorandum of Understanding (MOU) strengthens information-sharing between IIROC and FINTRAC. This will minimize the organizations\u2019 duplication of work aimed at combatting money laundering and terrorist financing. In particular, IIROC and FINTRAC will share AML-related findings from their audits and examinations of Canadian investment firms. They will also \u201cmaintain close, timely and on-going communications about any activities that may impact the other in their pursuits to protect Canadian investors,\u201d say the organizations.<\/p>\n<h5>Streamlining the compliance burden<\/h5>\n<p>&#8220;Agreements such as this one between IIROC and FINTRAC demonstrate our collaboration to detect and deter any suspicious activities that could threaten the integrity of Canada&#8217;s capital markets,&#8221; said <strong>Andrew J. Kriegler<\/strong>, IIROC&#8217;s President and CEO. &#8220;By sharing the information we collect and working cooperatively, we will streamline the compliance burden on the firms IIROC regulates, while maintaining investor protection.&#8221;<\/p>\n<p> <a href=\"https:\/\/insurance-journal.ca\/article\/iiroc-and-fintrac-enhance-cooperation-to-combat-money-laundering\/\">Read the original article at insurance-journal.ca <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Investment Industry Regulatory Organization of Canada (IIROC) and the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) announced on May 30 a Memorandum of Understanding that has the goal of better protecting&#46;&#46;&#46;<\/p>\n","protected":false},"author":578,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[],"tags":[],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/15058"}],"collection":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/users\/578"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/comments?post=15058"}],"version-history":[{"count":0,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/15058\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/media?parent=15058"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/categories?post=15058"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/tags?post=15058"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}