Canada: Introduction of Retail Payment Activities Act including new oversight
Description
Introduction of Retail Payment Activities Act including new oversight
The draft Retail Payment Activities Act is first read as division 8 of the Budget Bill C-30. It gives the Bank of Canada the authority to supervise payment service providers, verify their compliance and issue guidelines on the application of the Act.
Original sourceScope
Policy Area
Other operating conditions
Policy Instrument
Other operating condition, nes
Regulated Economic Activity
other service provider
Implementation Level
national
Government Branch
legislature
Government Body
parliament