Regulatory Update

The impact of recent amendments to anti-money laundering regulations for real estate developers — February 2009

Recent efforts to further crack down on money laundering and the financing of terrorism in Canada have led to increased government regulation for the real estate industry. Effective February 20, 2009, real estate developers must comply with amendments to the Proceeds of Crime (Money Laundering) and Terrorism Funding Act, similar to those currently in place for real estate brokers. Read the PDF below to learn the requirements and implications for non-compliance.

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