A long-promised federal registry listing the true owners of shell companies only applies to federally incorporated firms, the Senate banking committee was told, making companies incorporated in the 10 provinces exempt..“It’s taken forever even to get here," said Senator Paul Massicotte (Que.). .According to Blacklock's Reporter, the Liberal government's Bill C-19 An Act To Implement Certain Provisions Of The Budget would allow the Department of Industry to begin compiling data on “individuals with significant control over a corporation.” .The data would be publicly searchable in an internet database to be launched by Dec. 31, 2023..“When the registry is fully implemented and available by the end of 2023, it will have a public interface that will be accessible and searchable,” testified Jennifer Miller, director general of marketplace policy at the industry department. “I can’t speak right now because it is not built to the exact specifics.”.However, Miller confirmed the registry only applies to owners of companies regulated under the Canada Business Corporations Act. It would not include businesses incorporated in their home province..“This should be public information,” said Senator Massicotte. “What’s the concern so much that we want to test it for a year and-a-half before we make it publicly available? Could somebody help me out here?”.Senator Elizabeth Marshall (Nfld. & Labrador) noted the Liberal government publicly identified the registry as a priority. “The government wants to give the appearance that they’re doing something,” said Marshall..Senator Hassan Yussuff (Ont.), former president of the Canadian Labour Congress, also questioned the scope of the registry if the provinces are not participating..Most business in local trade like realtors incorporate in their home province. “How do we deal with money laundering across this country?” Yussuff said..The Liberals first proposed the registry as “a personal priority for me,” Finance Minister Chrystia Freeland testified last May 27 at the Senate national finance committee. The registry was originally scheduled for launch in 2025. “This is a big deal and a big new step,” said Freeland. “It is a personal priority for me.”.“I think this is really important to Canada,” said Freeland. “I see the world is moving in this direction.”.James Cohen, executive director of the advocacy group Transparency International Canada, testified at Senate committee hearings Canada was “a safe haven for illicit cash” with “weak anti-corruption laundering laws and enforcement.”.“A lawyer coined the term ‘snow washing’ to describe the practice of laundering dirty money in Canada through shell companies so it comes out clean as the driven snow,” said Cohen..The Liberal government must “create the world’s most effective beneficial ownership registry which can deter dirty money from entering our economy,” he said..This is what the Western Standard is up againstThe Trudeau government is funding lies and propaganda by directly subsidizing the mainstream media. They do this to entrench the powerful Eastern, woke and corrupt interests that dominate the political, social and economic institutions in Canada. Federal authorities are constantly trying to censor us and stop us from publishing the stories that they don’t want you to read. Ottawa may weaponize our taxes and police against us, but we’ve got a powerful ally on our side.You. Free men, and free women. We need you to stand with us and become a member of the Western Standard. Here’s what you will get for your membership:Unlimited access to all articles from the Western Standard, Alberta Report, West Coast Standard, and Saskatchewan Standard, with no paywall. Our daily newsletter delivered to your inbox. .Access to exclusive Member-only WS events.Keep the West’s leading independent media voice strong and free.If you can, please support us with a monthly or annual membership. It takes just a moment to set up, and you will be making a big impact on keeping one the last independent media outlets in Canada free from Ottawa’s corrupting influence.
A long-promised federal registry listing the true owners of shell companies only applies to federally incorporated firms, the Senate banking committee was told, making companies incorporated in the 10 provinces exempt..“It’s taken forever even to get here," said Senator Paul Massicotte (Que.). .According to Blacklock's Reporter, the Liberal government's Bill C-19 An Act To Implement Certain Provisions Of The Budget would allow the Department of Industry to begin compiling data on “individuals with significant control over a corporation.” .The data would be publicly searchable in an internet database to be launched by Dec. 31, 2023..“When the registry is fully implemented and available by the end of 2023, it will have a public interface that will be accessible and searchable,” testified Jennifer Miller, director general of marketplace policy at the industry department. “I can’t speak right now because it is not built to the exact specifics.”.However, Miller confirmed the registry only applies to owners of companies regulated under the Canada Business Corporations Act. It would not include businesses incorporated in their home province..“This should be public information,” said Senator Massicotte. “What’s the concern so much that we want to test it for a year and-a-half before we make it publicly available? Could somebody help me out here?”.Senator Elizabeth Marshall (Nfld. & Labrador) noted the Liberal government publicly identified the registry as a priority. “The government wants to give the appearance that they’re doing something,” said Marshall..Senator Hassan Yussuff (Ont.), former president of the Canadian Labour Congress, also questioned the scope of the registry if the provinces are not participating..Most business in local trade like realtors incorporate in their home province. “How do we deal with money laundering across this country?” Yussuff said..The Liberals first proposed the registry as “a personal priority for me,” Finance Minister Chrystia Freeland testified last May 27 at the Senate national finance committee. The registry was originally scheduled for launch in 2025. “This is a big deal and a big new step,” said Freeland. “It is a personal priority for me.”.“I think this is really important to Canada,” said Freeland. “I see the world is moving in this direction.”.James Cohen, executive director of the advocacy group Transparency International Canada, testified at Senate committee hearings Canada was “a safe haven for illicit cash” with “weak anti-corruption laundering laws and enforcement.”.“A lawyer coined the term ‘snow washing’ to describe the practice of laundering dirty money in Canada through shell companies so it comes out clean as the driven snow,” said Cohen..The Liberal government must “create the world’s most effective beneficial ownership registry which can deter dirty money from entering our economy,” he said..This is what the Western Standard is up againstThe Trudeau government is funding lies and propaganda by directly subsidizing the mainstream media. They do this to entrench the powerful Eastern, woke and corrupt interests that dominate the political, social and economic institutions in Canada. Federal authorities are constantly trying to censor us and stop us from publishing the stories that they don’t want you to read. Ottawa may weaponize our taxes and police against us, but we’ve got a powerful ally on our side.You. Free men, and free women. We need you to stand with us and become a member of the Western Standard. Here’s what you will get for your membership:Unlimited access to all articles from the Western Standard, Alberta Report, West Coast Standard, and Saskatchewan Standard, with no paywall. Our daily newsletter delivered to your inbox. .Access to exclusive Member-only WS events.Keep the West’s leading independent media voice strong and free.If you can, please support us with a monthly or annual membership. It takes just a moment to set up, and you will be making a big impact on keeping one the last independent media outlets in Canada free from Ottawa’s corrupting influence.
