Mortgage Services AML Guidance: Key Lessons from Ghotaymi v. BCLC (2026 BCSC 191)
In Ghotaymi v. BCLC (2026 BCSC 191), the court upheld a risk-based approach to anti-money laundering controls that is directly relevant to mortgage brokers, lenders, and other mortgage service providers. The key message for the mortgage industry is that you do not need “proof” of money laundering to take enhanced due diligence steps—if the facts […]
Why Exempt Market Dealers Are “Limited Dealers” — and Why It Matters Under the New Mortgage Services Act
1. The current legal definition: “limited dealer” means every dealer who is not an investment dealer As of the consolidated Securities Rules current to March 2026, British Columbia defines “limited dealer” in a deliberately broad way. Section 6 of the Securities Rules (B.C. Reg. 194/97) provides: “In these rules ‘limited dealer’ means a person registered […]
CAPL Letter to BCFSA: Clarification Request on NQSM/NQSMI Treatment Under the Mortgage Services Act Transition
CAPL has submitted a letter to the BC Financial Services Authority (BCFSA) requesting confirmation of our understanding of how non-qualified syndicated mortgages and non-qualified syndicated mortgage investments (NQSMs/NQSMIs) are treated under British Columbia’s current Mortgage Brokers Act framework and the upcoming Mortgage Services Act (expected to come into force in or around October 2026). The […]
APL Letter to BCFSA: Clarification Request on NQSM/NQSMI Treatment Under the Mortgage Services Act Transition
CAPL has submitted a letter to the BC Financial Services Authority (BCFSA) requesting confirmation of our understanding of how non-qualified syndicated mortgages and non-qualified syndicated mortgage investments (NQSMs/NQSMIs) are treated under British Columbia’s current Mortgage Brokers Act framework and the upcoming Mortgage Services Act (expected to come into force in or around October 2026). The […]
CAPL Letter to Finance Canada & FINTRAC: Pragmatic AML Guidance to Support Financial Inclusion
CAPL submitted a letter (reproduced below) to the Minister of Finance and FINTRAC as the federal government examines financial inclusion for vulnerable Canadians and sectors facing “de-banking.” Based on what our members see in AML onboarding every day, we’re calling for clear, pragmatic guidance that helps all reporting entities verify identity and manage risk without […]
A $150,000 AML Fine for a First Audit Isn’t “Tough on Crime.” It’s Tough on Small Business—and Tough to Justify
Canada’s anti–money laundering (AML) regime has a credibility problem—not because AML enforcement is unnecessary, but because the penalty outcomes are increasingly hard to defend as proportionate. A six-figure administrative monetary penalty (AMP) can be appropriate when a business is willfully blind, repeatedly non-compliant, or effectively operating as a conduit for laundering. But when penalties land […]
CAPL participates in new PRISM Policy Roundtable for Innovation in Stablecoin Markets
PRESS RELEASE December 31, 2025 PRISM Policy Roundtable for Innovation in Stablecoin Markets Launches to Advance Practical, Cross-Regional Dialogue Vancouver, BC, December 31, 2025. The PRISM Policy Roundtable for Innovation in Stablecoin Markets (the Roundtable) today announced its launch as a cross-regional working group focused on supporting practical dialogue on stablecoin policy, regulation, compliance, and […]
Mortgage Lenders Get Ready for Canada’s new Stablecoin Regime
Canada is moving toward a formal regime for stablecoins (fiat‑referenced cryptoassets), with a draft framework released and Bill C‑15 introduced at first reading as the legislative backbone. For mortgage lenders and other home finance providers, this is not just a niche crypto development – it will shape how borrowers fund, pay, provide collateral and interact […]
BC Property Connect (Launching in 2026): What BC Property Owners Need to Know
British Columbia’s land title system is moving further into a digital, owner-focused future. The Land Title and Survey Authority of British Columbia (LTSA) is developing a new service called BC Property Connect | Verified Transaction, expected to launch in 2026. The goal is simple but significant: give property owners a secure digital connection to their […]
Canada Bank Fraud: APP Scams, UK Reimbursement Rules, and What Needs to Change
Elderly victim loses $1.7M in Canada bank fraud. Learn how rising scams expose weak protections—and what banks must do to prevent future losses.