That time of the month again – in Canada

When firms seize assets that run afoul of sanctions restrictions, they have to keep track of those assets. In the US, seized assets have to be placed in an account that earns market interest, and the updated amount of each seized item is reported twice a year (last I looked).

In Canada, OSFI wants that reporting (it’s referred to as 525 reporting) monthly. Luckily, they publish reminders….like they did today.

Links:

OSFI press release
OSFI Terrorism Financing page (includes lists of names, associated regulations & reporting forms)

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s