SALVUS successfully guided a FINTRAC MSB in Canada to register under the RPAA framework of the Bank of Canada

The Regulatory & Licensing Team at SALVUS is pleased to announce the successful registration of a FINTRAC-registered Money Services Business (MSB) under the Retail Payment Activities Act (RPAA) framework with the Bank of Canada. 

SALVUS provided comprehensive, end-to-end support throughout the RPAA registration process, assisting the client with the full preparation and submission of the application, the development and enhancement of internal policies and procedures, and direct communication and coordination with the Bank of Canada. 

The engagement required detailed regulatory analysis and alignment with the Bank of Canada’s operational risk management, safeguarding, and compliance expectations under the RPAA regime. Our team worked closely with the client in establishing the necessary policies and procedural frameworks to meet the requirements of the Retail Payment Activities Act (RPAA) and prepare for regulatory oversight.

Through structured project management, regulatory drafting, and continuous liaison with the supervisory authority, SALVUS successfully supported the client in achieving approval under the RPAA framework, positioning the entity to continue its payment activities in Canada under a compliant and robust regulatory structure. 

This achievement further strengthens SALVUS’ growing track record in assisting payment institutions, MSBs and other regulated entities across multiple jurisdictions in navigating evolving regulatory frameworks.

If you require support with RPAA registration, MSB compliance, or payment services regulation in Canada or internationally, contact the SALVUS Mergers and Acquisitions team at compliance@salvusfunds.com for professional guidance and available opportunities. 

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