Regulatory Setup & Licensing

Advisory services for businesses building a regulated financial operation in Canada — from registering a new Money Services Business with FINTRAC, to RPAA registration with the Bank of Canada, to running an ongoing AML/CTF compliance programme. These are advisory engagements, scoped and delivered separately from our company-sale brokerage.

Full MSB Registration

For operators who want to build and register a new Money Services Business from the ground up rather than acquire an existing company, we advise through the full FINTRAC registration process.

What the engagement covers

Company incorporation and structuring.
Regulatory business description and FINTRAC application preparation.
Support with clarification requests and regulator dialogue.
Compliance officer onboarding and training.

Compliance & operations

AML/CTF policies and programme implementation.
Risk and sanctions framework design.
Support with ongoing FINTRAC reporting obligations.
Business plan and programme of operations for banking partners.
Compliance-as-a-Service (outsourced compliance officer).

RPAA (PSP) Registration Support (Bank of Canada)

The Bank of Canada opened mandatory registration for Payment Service Providers (PSPs) under the Retail Payment Activities Act (RPAA) on 1 November 2024. For most payment businesses, RPAA registration is an additional requirement — not a replacement for FINTRAC MSB registration. Lariat advises across both frameworks.

How we help

Determining whether your business falls under the RPAA definition of a PSP.
RPAA readiness assessments.
Preparing operational risk management documentation.
Support with Bank of Canada onboarding.
Ongoing guidance for PSP compliance alongside FINTRAC obligations.