News

September 19, 2013 - Letter from the Chairman

The spirit of advocacy and outreach:

Money has been a fascination for me since an early age. Perhaps like me, many of you have gone down an interesting and unique path to be where you are today.

My first real experience in the business was in the late 80s managing ATMs and then programming them. Then, I was installing complete systems in ATM, POS, telephone banking, Internet banking, and CC payments in the 90s. From there, the charm of payments and the movement of money evolved to the point of creating my own shop, and many other businesses along the way.

For money services businesses in Canada, money movement comes with increased compliance requirements and regulations. This is a fast growing global economy. Regulations here and in other FATF member countries have become a concern to all of those who operate MSBs here in Canada.

This concern has translated into the formation of the Canadian MSB Association. Advocacy and community outreach is our primary focus.

As the saying goes “Rules are for the obedience of the fools and guidance of the wise”

The association’s mission is to provide a stakeholder voice for organizations which are governed by payments compliance and Anti-Money Laundering regulations in Canada, to engage with regulators and legislators and to bring the voice of our industry to policy makers who impact the way we do business every day. In order to fulfill this mission, we hope to develop, evaluate, and disseminate information that fosters a deeper understanding and an ability to mold the landscape of the regulations affecting Canadian Money Services Businesses. Further, we hope to solidify current and gain new institutional relationships.

And foremost, through collaboration with all stakeholders, we will engage these pervasive regulations as wise men and women, rather resigning to being obedient “fools.”

Let’s meet up!

On October 23, 2013 at the Toronto Board of Trade, the association will be having its first annual conference.

This conference has a many-fold agenda. It will encompass the formalization of the community, disseminate information, and gather advocacy items to form the basis the association’s agenda for the up-and-coming 2013/14 term.

On behalf of myself and the board members, advisors and volunteers, we would like to invite you to attend this gathering; it is really the first of its kind in Canada. We have a terrific line up of Keynote speakers, including Janet Ecker, the former minister of finance for Ontario, FINTRAC, user based presentations and panels, and over 15 vendors who service the MSB community in Canada today. Seating is limited to the first 150 people… so register early!

Check out the Conference Schedule:

http://canadamsb.org/events/

Hope to see you there!

Joseph Iuso
Chairman of the Canadian MSB Association
And CEO UseMyServices, Inc.