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Below is a preview of the five most recent posts from the blog TechLex. To read these posts in their entirely or subscribe to future updates from this blog, please visit their website!
- FINTRAC Updates Guidance on Record Keeping, Client Identification, Beneficial Ownership and Correspondent Banking
In March 2021, the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) updated its guidance on (1) record keeping, (2) client identification, (3) beneficial ownership and (4) correspondent banking. … Read more »
- Canada’s Privacy Overhaul: Deep Dive into Key Topics of Cross Border Transfers, Service Provider Obligations, AI, Employment Considerations and Class Action Developments
On March 3, 2021, McCarthy Tétrault LLP hosted the second session in its two-part series Canada’s Privacy Overhaul: Deep Dive into Key Topics. This article is about the second session (and a summary of the first session is available at this link). Both sessions are available for viewing online: Part … Read more »
- IIROC Publishes Notice Regarding Ransomware Attacks
The Investment Industry Regulatory Organization of Canada (“IIROC”) has published a Cybersecurity Notice on Ransomware (the “Notice”), which flags a recent uptick in ransomware attacks on IIROC firms and provides guidance on how IIROC firms should prevent, detect, respond to and recover from ransomw … Read more »
- FCAC Makes Submission to Department of Finance’s Open Banking Consultation
On March 1, 2021, the Financial Consumer Agency of Canada (“FCAC”) made a submission to the Department of Finance Canada’s Advisory Committee on Open Banking for consideration as part of the current consultation process on open banking. … Read more »
- New Ontario Court of Appeal Decision Impacts The Scope of Insurance Coverage for Cyber Matters
The Ontario Court of Appeal has, in a recent ruling, significantly narrowed the availability of insurance coverage for cyber matters under traditional insurance policies. In Family and Children’s Services of Lanark, Leeds and Grenville v. Co-operators General Insurance Company, 2021 ONCA 0159, Co-o … Read more »