Only around 10 percent of businesses in Canada are legally obliged to disclose ownership details to the federal government, says a Department of Industry briefing note. Ninety percent of companies are registered within their home province or territory and are not covered by the legislation. The vast majority of Canadian businesses, therefore, are exempt from…
90% of Businesses Exempt From Federal Bill Mandating Ownership Disclosure: Report
July 21, 2023
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Canada Is Haven for Global Money Laundering Says MP, Suggesting Revamp of Legislation
Conservative MP Michael Chong says Canada’s lax laws have allowed the country to become a haven for money launderers and those evading sanctions for international crimes. He says a bill currently proposed by the federal government doesn’t go far enough to adequately address the issue. The Liberals introduced Bill C-42 in March, proposing the creation of a corporate…
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