Legal updates, regulatory guidance and practical perspectives for businesses operating in complex industries.
Voluntary Self-Declaration of Non-Compliance Framework for MSBs and Other FINTRAC Reporting Entities (VSDONC) Purpose and Rationale of VSDONC The Voluntary Self-Declaration of Non-Compliance (VSDONC) is a mechanism that allows reporting entities to proactively inform FINTRAC about instances where they have not met certain regulatory obligations. This process is designed to encourage a culture of compliance by…
Money Services Businesses in Canada And Why They Must Register In Canada, businesses involved in financial transactions, particularly money services businesses (MSBs), are required to register with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC). This registration is not merely a bureaucratic step; it is a fundamental component of Canada’s anti-money laundering (AML)…
Uncover the crucial role of a Chief Anti Money Laundering Officer (CAMLO) in safeguarding financial institutions from illegal financial activities.
The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) operates under the legislative authority of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) and its associated regulations. This foundational legal framework mandates FINTRAC to perform several key functions: the collection and analysis of financial transaction information, and the dissemination of actionable…
FAQ
Have questions about Substance Law? Here are some of the most common queries to help you get started.
Timelines depend on the licence type, how complete the application is and the regulator’s current processing times. We prepare the application and supporting documents so the review runs smoothly, and we give you a realistic timeline at the start.
It depends on the services you provide. Money services businesses register with FINTRAC, and payment service providers performing retail payment activities register with the Bank of Canada under the RPAA. Some businesses need both; we review your model and tell you which apply.
In many cases, yes. A transfer is approved by the provincial regulator and depends on the licence conditions, the premises and the buyer’s eligibility. We handle the filings and coordinate with the other side of the deal.
It depends on the product, its claims and how it is sold. Some products are regulated as drugs or natural health products by Health Canada. We review the product and the sales model and explain what is permitted.
Yes. We advise clients across Canada on federal and provincial regulatory matters, and we coordinate with local counsel where a provincial rule requires it.
We always strive to offer our clients transparent, flexible and reasonable pricing and payment options. Where the scope of the engagement permits, we try to offer our clients innovative, fixed-fee pricing options instead of traditional hourly rates, and payment through EFT, Wire, E-transfer, and Credit/Debit Card.
Service areas / Jurisdiction
We advise clients across Ontario and throughout Canada on regulatory, licensing and compliance matters in cannabis, psychedelics and other regulated industries.
Cannabis retail, consumption and related licensing
Zoning, land use and local approvals
Compliance and enforcement matters
Health Canada, Canada-wide regulatory matters
CRA, excise, FINTRAC and related requirements
Psychedelics, hemp, wellness and emerging sectors
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Canada's Law Firm For Regulated Substances
