Proposed New Money Laundering and Terrorist Financing Regulations
November 21st, 2007 Categories: Vancouver Real Estate
“A man must live like a great brilliant flame and burn as brightly as he can. In the end he burns out but this is far better than a mean little flame”. Boris Yeltsin
What do you know about money laundering and terrorist financing regulations compliance that realtors must adhere to?
CREA set out a Call to Action Campaign regarding the new proposed regulations that apply only to REALTORS and not to other professionals who can sell real estate, such as lawyers. The new regulations are slated to become law in June 2008.
Realtors across the country responded by sending more than 12,000 e-letters to their MP. 12% were from BC.
As a result CREA representatives were able to meet with Federal Finance Minister Jim Flaherty to discuss our concerns. The Minister agreed to revisit the proposed new rules.
No Comments yet »
RSS feed for comments on this post. TrackBack URI
