Foreign investors are potentially subject to two tiers of regulation: (1) federal foreign investment legislation provides an initial hurdle towards foreign in-bound investment and the application of such legislation may ...
The Government of Canada has announced a two-year extension to an existing ban on foreign ownership of Canadian housing. The Prohibition on the Purchase of Residential Property by Non-Canadians Act (the Act) was set ...
CAPL has quarterly meetings with the Financial Services Regulatory Authority of Ontario (FSRA), in which we are able to discuss issues relating to the mortgage brokering sector. We can report ...
Proposed Criminal Interest Rate Regulations providing exemptions now published. On December 23, 2023, the federal government published proposed Criminal Interest Regulations which specify certain exemptions to the new criminal interest ...
The Department of Finance is launching a new consultation on further lowering the criminal rate of interest, the payday lending exemption and other questions related to access to small loans. ...
MBRCC initiatives impacting co-brokering and mortgage product suitability recommendations The Mortgage Brokers’ Regulatory Council of Canada (MBRCC) has published its strategic plan for the next three years (2023-2026). Some of the strategic ...
The Government of Canada has launched a public consultation to examine ways to improve Canada’s Anti-Money Laundering and Anti-Terrorist Financing Regime. Comments or feedback in response to the consultation paper ...
CAPL has met with consultants working for FINTRAC to assist with the roll out of AML requirements for the mortgage services sector, which includes mortgage lenders. In order to understand ...
Recently CAPL proposed four exemptions to the Federal Government which would apply to the new lowered criminal rate of interest. Housing interest prohibitions in the Criminal Code appears to be ...
The Federal Government is planning to lower the criminal interest rate to 35%. This will impact private and alternative lenders, particularly lenders that provide loans on short terms, for example, ...
