2020

Canada is fast becoming a destination of choice for money launderers worldwide, who are taking advantage of our under-regulated, loophole-riddled property market to wash and hide billions in illicit wealth. Canada is both a desirable place to live and an attractive market in which to invest.

In the budget released on March 20, 2017, the federal government announced its intention to introduce amendments to the Proceeds of Crime (Money Laundering) and Terrorist Financing Act, or PCMLTFA.

If there is one area of law that seems to be the least understood among members of the profession, it is financial crime. Financial crime involves, among other things, money laundering, terrorist financing, tax evasion, insider trading, corruption, illegal gambling, drug trafficking and prostitution.

Bitcoin, also known as a decentralized virtual currency, is regulated differently in the People’s Republic of China, Canada, and the United States, and represents a vastly underdeveloped area of the law. No country has currently backed Bitcoin. Launched in 2009, and founded by Satoshi Nakamoto, Bitcoin is a “decentralized peer-to-peer virtual currency.”

Much can be learned from a comparative analysis of the different corporate governance practices of Canada and the People’s Republic of China, specifically with respect to the duties of directors in overseeing registered corporations.

On July 25, 2016, the British Columbia government announced Bill 28 – Miscellaneous Statutes (Housing Priority Initiatives) Amendment Act, 2016.

A proposed class action was filed a mere six weeks after the British Columbia government introduced amendments to the Property Transfer Tax Act to impose an additional 15 per cent tax on the purchase of residential property by foreigners in the Greater Vancouver Regional District. This legislation, and the role of foreign buyers in Vancouver’s housing market, has received significant news coverage in the local and national media.

On October 3, 2016, Federal Finance Minister Bill Morneau announced changes which will affect trusts and non-residents owning residential property in an effort to ensure "housing markets are stable and functioning efficiently."

Human rights are about each of us living in dignity and the human rights project is about standing up to injustice and showing solidarity in the face of oppression. Due to economic globalization, operations of transnational corporations have an impact on local and international markets and affairs of state.