Information About Risk Management & Crisis Response
Recent Posts
Below is a preview of the five most recent posts from the blog Risk Management & Crisis Response. To read these posts in their entirely or subscribe to future updates from this blog, please visit their website!
- Advisory Committee on Open Banking releases Final Report
On August 4, 2021, the Advisory Committee on Open Banking (the Committee) released its Final Report, which includes 34 recommendations for the implementation of an open banking system in Canada. The Final Report suggests that an open banking system could be operational by January 2023 and should con … Read more »
- Federal pay equity comes into force August 31
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- CSA releases Annual Enforcement Report for fiscal year 2020/2021
On June 22, 2021, the Canadian Securities Administrators (the CSA) released their annual Enforcement Report [PDF] for the 2020/2021 fiscal year. Building on the emphasis placed on collaboration and cooperation in recent years (as we have written), this year’s report emphasizes the fact that collab … Read more »
- World Bank debars three companies in effort to promote higher integrity standards
On June 30, 2021, The World Bank Group (the World Bank) announced the debarment of three companies for alleged sanctionable misconduct: Crosswords Ltd. (“Crosswords”), Al-Zubairi Group for General Trading, Contracting, Transportation, and Oil Services (“Al-Zubairi”) and Companhia Brasileira de Proje … Read more »
- Global financial crime compliance costs are trending upwards. Is Canada catching up?
Financial crime compliance costs have skyrocketed this past year, with the United States increasing total spending by $8.8 billion in 2020 alone, as reported in a recent LexisNexis Global Report entitled Trust Cost of Financial Crime Compliance Study (Report). While Canada has also experienced an in … Read more »