Canada: Compliance duties in Retail Payment Activities Act
Progress
Current status
under deliberation
30 Apr 2021 under deliberation
Scope
Implementers
Canada
Policy Area
Other operating conditions
Policy Instrument
Other operating condition, nes
Regulated Economic Activity
other service provider
Government Branch
legislature
Government Body
parliament
Implementation Level
national
Timeline of events
Introduction of Retail Payment Activities Act including compliance duties
The draft Retail Payment Activities Act is first read as division 8 of the Budget Bill C-30. It creates specific duties for payment service providers, especially those holding end-user funds, which include holding such funds in a special account, es…
SourceEvent type
law
Action type
introduction
Government branch
legislature
Government body
parliament