Canada Financial News

Royal Bank of Canada has been ordered to pay a nearly $7.5-million penalty for administrative violations under the Proceeds of Crime (Money Laundering) and Terrorist Finance Act and associated regulations.

Heritage Minister Pascale St-Onge says Canada’s broadcasting regulator should look into regulating Meta Platforms Inc. when the Online News Act comes into effect, as users find loopholes to share news on its platforms.

Canadian Armed Forces saw a “significant increase” in 2022 despite promises of reform within the military following years of intense scrutiny, Statistics Canada says.The national statistical agency released on Tuesday the results of a survey that found roughly 1,960 regular force members, roughly 3.5 per cent, reported they were sexually assaulted either inside or outside the workplace involving a Canadian Armed Forces (CAF) or another military member.“This rate of sexual assault — which includes sexual attacks, unwanted sexual touching, and sexual activity where the victim was unable to consent — represents a significant increase from rates reported in 2018 (1.6 per cent) and 2016 (1.7 per cent) when previous iterations of the survey were conducted,” Statistics Canada said.CAF was described as a “broken system” that is a “liability” to the country by former Supreme Court of Canada justice Louise Arbour, in her blistering report into sexual misconduct in May 2022.Arbour’s review was formally launched a year before that — in May 2021 — in response to exclusive reporting by Global News into allegations of sexual misconduct among the highest ranks of the Canadian Armed Forces.Global News first brought to light in February 2021 allegations of sexual misconduct against senior leaders — the first of dozens of exclusive reports into such allegations and the military’s handling of them over the 18 months after that initial report.The federal government has promised reform, and said earlier this month that a highly anticipated review into Canada’s military college system — an “outdated” program with a “problematic leadership model” as described by Arbour — is “about to be launched.”Statistics Canada said on Tuesday its report is

Canada remains a chronic underachiever. Our economy contracted by 1.06 per cent quarter-over-quarter in the third quarter, while the United States economy grew by 5.2 per cent. The European Union and Australia also saw modest economic growth.

The most comprehensive global look at test scores since the pandemic shows learning loss is a stubborn worldwide problem, with American 15-year-olds experiencing similar or slightly less severe setbacks compared with peers in other countries. Economically developed nations saw substantial drops in reading and math on international exams, according to new data released Tuesday. U.S.

Hong Kong’s most prominent pro-democracy activists, who was imprisoned in the wake of the 2019 Hong Kong protests, said on Sunday that she has left the city for Canada and plans to never return.Agnes Chow, 27, became a face of Hong Kong’s pro-democracy movement after she helped establish the Demosisto political party in 2016 alongside other young activists Joshua Wong and Nathan Law. The group disbanded hours after Beijing passed a sweeping national security law in 2020 that put a chilling effect on political activism in the city, and has been criticized by western governments for stifling free expression and interfering with Hong Kong’s semi-autonomous status as a former British colony.Chow was arrested in 2019 for allegedly inciting an unauthorized protest outside Hong Kong police headquarters.

Taiwan’s Financial Supervisory Commission (FSC) is exploring the possibility of introducing cryptocurrency exchange-traded funds (ETFs).

Lakhbir Singh Rode, who was allegedly involved in the 1985 bombing of the Air India jet Kanishka, has passed away in Pakistan due to a heart attack. The news of his demise was confirmed by his brother, Jasbir Singh Rode, who is also a former Akal Takht Jathedar.

Canada’s financial intelligence agency says it anticipates that criminals will increase their use of cryptocurrency to raise, move and hide funds outside the traditional banking system.

(Corrects paragraph 13 to reflect consequences for executives trading during blackout periods, not insider trading)

The well-known fiat-crypto payment gateway Alchemy Pay hasreached a noteworthy milestone when it obtained a Money Services License in the US state of Iowa. This achievement, which was declared on November 23, 2023, comes after they were successful in getting an Arkansas money transmitter license earlier. Obtaining these licenses is a significant milestone in Alchemy Pay's ambitions to increase its market presence internationally as well as evidence of its regulatory compliance.

The head of one of the world’s biggest pension funds has said United Kingdom retirement plans should not be told where to invest their money, as the government sets out plans to funnel more cash into unlisted assets and early-stage companies.

The holiday spending season is upon us, and poll after poll reveals that this year Canadians are keeping a tighter grip on their wallets.

The charred remains of two people found in a burned-out vehicle in the Caribbean island country of Dominica on Friday are believed to be those of Quebec entrepreneur Daniel Langlois and his partner, Dominique Marchand, according to a Dominican news outlet and several Quebec media reports.

Jefferies Financial Group is starting an investment-banking unit in Canada as part of an international expansion of its core Wall Street operations.

People will be surprised by the fast progress being made with crypto implementations at e-commerce platform Shopify, according to a senior executive at the company.

In the 12 months ending in March 2023, Canada welcomed nearly 1.2 million new people, a record for a one-year period. For 2023, population growth is expected to surpass three per cent, a 65-year high. 

We pay tax not only on our Canadian-source employment, business or investment income, but on our total worldwide income, including foreign income, such as a foreign pension, which must first be converted to Canadian dollars before it’s reported on our returns annually.

1. Canada Express Entry: Canada Express Entry is a system that manages applications for three federal economic immigration programs: the Federal Skilled Worker Program, the Federal Skilled Trades Program, and the Canadian Experience Class.

Moncton’s Jewish community is voicing their discontent with the city’s mayor after they were told a menorah will not be displayed outside city hall during Hannukah, an annual tradition that’s occurred for the past 20 years.

Bill Blair says he is committed to pushing for increased investment in the Canadian Armed Forces (CAF) after two top commanders sounded the alarm recently on operational readiness.Last week, Chief of the Defence Staff Gen. Wayne Eyre said military resources are strained amid increased calls for assistance in natural disasters and recruiting challenges.On The West Block, Blair told host Mercedes Stephenson that how the government addresses these challenges is part of an ongoing discussion.“We have brought forward a plan that’s very much in discussion right now within our government about making significant new investments,” Blair said.“We’re going to do more.