Draft Regulations for the Retail Payment Activities Act Published

On February 10^th, the proposed Retail Payment Activities Act regulations were published for consultation. The regulations introduce a new supervisory regime for the retail payment activities of payment service providers, including those that offer digital wallets. The Act and regulations will not apply to credit unions and banks.
 
Comments on the regulations can be submitted to the government by March 28^th. If you have any questions, please contact Sabena Sandhu.
 
For additional resources, please see below:

• Torys LLP: Registration for a webinar on February 23^rd at 12pm EST for an overview of the proposed regulations
• Torys LLP: Summary of Proposed Regulations
• Blakes LLP: Summary of Proposed Regulations