How Canadians pay: Draft regulations released, part two

By Jacqueline Shinfield, Vladimir Shatiryan and Tracy Molino ( March 23, 2023, 10:46 AM EDT) -- On Feb. 10, 2023, the long-awaited draft regulations to the Retail Payment Activities Act (RPAA) were released, detailing the requirements of the RPAA at a more granular level. In part one of this article, we highlighted the provisions introduced by the regulations relating to the risk management and incident response framework that registered payment service providers (PSPs) must implement. We now turn to the RPAA’s fund safeguarding regime and provision of information requirements....