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Do other government agencies issue administrative monetary penalties?

April 26, 2017administrative agencies government ISSUE monetary penalties

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Do other government agencies issue administrative monetary penalties?

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Yes. Administrative monetary penalties are considered a useful instrument in ensuring regulatory compliance. FINTRACs administrative monetary penalities program will be consistent with similar programs in other government agencies, including the Office of the Superintendent of Financial Institutions (OSFI), the Financial Consumer Agency of Canada (FCAC), the Canada Border Services Agency (CBSA), the Canadian Food Inspection Agency (CFIA), and the Competition Bureau.

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Yes. Administrative monetary penalties are considered a useful instrument in ensuring regulatory compliance. FINTRAC’s administrative monetary penalities program will be consistent with similar programs in other government agencies, includi…