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Jae Gee

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Jae is an Associate in the Transactional group at Baker McKenzie's Toronto office. Jae's practice focuses primarily on financial regulation and compliance involving fintechs, financial institutions, and market participants and their business in Canada. Prior to joining the Firm, Jae completed her Ontario Articles of Clerkship at the Toronto office of a large multinational law firm, where she returned as an associate. Jae completed her J.D. at the University of Ottawa, where she received both the William J. Miller Prize and the Annaline Lubbe Prize in competition law. Prior to law school, Jae completed her bachelor of commerce at Queen's University's Smith School of Business.
In AML & Financial Services Regulatory

Canada: Deadline approaching for registration under the Retail Payment Activities Act

by , and 6 Mins Read

Registration for payment service providers under the new Retail Payment Activities Act is fast approaching. Individuals or entities performing retail payment activities in Canada have a 15-day window between 1 November 2024 and 15 November 2024 to submit their applications with the Bank of Canada to avoid a 60-day delay in performing their retail payment activities, a notice of violation under the Act, or significant monetary penalties. If you or your entity may be required to be registered as a payment service provider under the Retail Payment Activities Act, and you have not yet prepared your application materials, please contact us as soon as possible and we will help.

In AML & Financial Services Regulatory

Canada: Publication of Regulations under the Retail Payment Activities Act to apply to Payment Service Providers

by , and 8 Mins Read

On 22 November 2023, the finalized regulations enacted under the Retail Payment Activities Act (RPAA) were published, with registration-related requirements expected to come into force beginning in November 2024 and the remainder in September 2025. The RPAA and Retail Payment Activities Regulations make up Canada’s new retail payment supervisory regime overseen by the Bank of Canada, Canada’s central bank.

In AML & Financial Services Regulatory

Canada: Securities regulators provide guidance on interim approach to stablecoins for crypto asset trading platforms

by , and 7 Mins Read

On 5 October 2023, the Canadian Securities Administrators published guidance on dealing in Stablecoins, including by imposing updated terms and conditions for crypto asset trading platforms that offer Stablecoins, and requiring issuers of certain Stablecoins to provide undertakings in a form substantially acceptable to the regulators by 1 December 2023.