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Canada

The Canadian Grand Prix produced excellent and exciting racing. Strategy played almost no part and we were treated to motor racing at its best. Sadly, the racing has been overshadowed.

CoNet Section: 

A report in the Vancouver Sun details the amazing failure of a project called "Statistical Analysis Software", currently in its fourth year and so far costing CND7.3 million, to design and implement money laundering risk identification and assessment software at the British Columbia Lottery Corporation's casino business which is deeply embroiled in money laundering investigations by the RCMP. It's a case study in how to stuff up = and now questions relating to the software and its failure are being added to the investigation.

Canada's Office of the Superintendent of Financial Institutions has issued a regulatory notice containing a reminder that there are a number of reserved words, particularly those relating to banking, which may not be used without authority, in relation to financial services. It goes far beyond the use of the words in the name of businesses and will tighten up sloppy language in marketing and so-called social media. It might, also, inadvertently, make the point that "fintech" companies are not banks and do not afford consumers the protection that governments provide to bank depositors.

BIScom Subsection: 

Here's a puzzle - what's northern, big, white and grumpy? No, it's not a polar bear. It's Canada - at least when it comes to its car manufacturing industry. What's that, you say? Does Canada have a car manufacturing industry? Apparently so.

CoNet Section: 

The Associated Law Societies of Canada have succeeded in their attempts to overturn some of Canada's requirements that lawyers report

 


 

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