Canada’s securities regulator says it will share more information with the country’s financial intelligence unit to better protect against money laundering and terrorist financing.
The Investment Industry Regulatory Organization of Canada, the national self-regulatory body that oversees all investment dealers and their trading in debt and equity markets, announced the deal Thursday.
The organization says in a news release that it has signed a memorandum of understanding with the Financial Transactions and Reports Analysis Centre of Canada, also known as Fintrac.
Under the agreement, the two organizations will share with each other the anti-money laundering related findings from their audits and examinations of investment firms.
The release says the two organizations will also maintain close, timely and ongoing communications about any activities that may impact the other in their pursuits to protect Canadian investors.
Two reports on money laundering released by the British Columbia government this month raised alarm about Fintrac’s ability to gather and share information on criminals washing dirty money in Canada.