April 21, 2015 - Montreal Training Session Survey Results

Section 1: Multiple Choice and Yes/No Questions

Section 2: Most Pressing Concerns and Issues Members Face with Regard to Their Businesses:

Banking (3)

  • Opening bank accounts for MSB
    Banking relationship – (stress/access)
    De-banking/De-risking (3)

Compliance (2)

  • Adapting compliance for changing business model/relationships


  • Investor Risk

Industry Trends
How to use Blockchains to help MSBs
Pricing for small businesses/price transparency

  • Cost, scalability, use across multiple locations/agents
    Hotels are offering MSB services
    Unregistered MSB services
    Potential automation  

Section 3: Suggested Topics for Future Session


  • Expectations for STR/ASTR data from the MSB industry


  • De-banking/de-risking
    What solutions would work/are working beyond de-risking
    Expectations of MSBs (BMO, RBC, DC, Luminus, etc.)
    Forming an MSB bank

Global alliance
Sharing best practices from regulators
Regulatory updates

  • Forum to discuss/share with other MSBsShared MSB frontline experiences as opposed to consultants, lawyers regulators etc.

Section 4: General Comments

“Add more time to FINTRAC. Many MSBs come to the conference for that. Everyone ends up asking him questions while its other speaker’s turns [sic].”

“It was a pleasure attending for the second year in a row. As an MSB we are grateful to have an association that is looking after us. I feel membership is a must for all MSBs. Very informative, I will be back next year.”

 “Despite cynical comments on the comment period for draft regulation, this will likely be a good opportunity for the MSBA to submit consolidated comments on behalf of the industry.”