Are you looking to register for a Money Service Business (MSB) license in Canada? Do you need your MSB’s ongoing compliance obligations taken care of? We can help you with the process from start to finish. Our straightforward, modular services make it easy to get your MSB registered, banked, and compliant.
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We've worked with money service businesses from around the world to help them become registered and compliant in Canada. We can assist you, whether you're a cryptocurrency exchange, money transmitter, virtual “wallet” provider, or payment service provider.
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Tier
Registration only
Full-suite CCO-as-aservice
Ongoing compliance consulting
Features
Register you as an MSB or fMSB, which includes the following:-
Complete outsourcing of your AML(FINTRAC) compliance function:
Advice and assistance with any part of your compliance function, including:
Expected Timeline
30-90 days
Ongoing
Ongoing
Tier
Registration only
Features
Register you as an MSB or fMSB, which includes the following:-
Expected Timeline
30-90 days
Tier
Full-suite CCO-as-a service
Features
Complete outsourcing of your AML(FINTRAC) compliance function:
Expected Timeline
Ongoing
Tier
Ongoing compliance consulting
Features
Advice and assistance with any part of your compliance function, including:
Expected Timeline
Ongoing
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Pouya helps fintech companies navigate complex Canadian AML and securities regulations with creative approaches and practical solutions. His clients range from payment service providers, e-money businesses, and crypto exchanges. Outside of work, Pouya teaches blockchain law at George Brown College and is a member of the Canadian Blockchain Consortium's Legal Committee and Access to Banking Committee.
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Tigran is the founder of AML Incubator, and is a Financial Crime Mitigation Consultant within the AML/TF and General Compliance sector and a board member of the ACAMS Vancouver Chapter as a Member at Large. He has over 10 years of experience. His has overseen the design, implementation, and monitoring of financial crime mitigation management for many crypto & banking businesses worldwide. His interests fall in with Blockchain Analytics, DeFi and CeFi, NFT & Web 3.
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We offer peace-of-mind through the complex MSB setup and on-going compliance process. We provide a full suite of compliance consulting services, from initial structuring and MSB registration to ongoing compliance.
Banking and Connecting
Getting registered and operating compliantly is only half the battle for players in the payments space. The real challenge lies in getting banked and building valuable relationships with other players, service providers, and potential clients in the space.
We understand the importance of relationship building and as one of Canada’s forefront fintech-focused law firms, we have a network of trusted partners in the payments and digital asset industry. This allows us to be more than just legal and compliance experts to our clients - we take a broader approach to our clients' needs by serving as connectors and business advisors. Our goal is to help our clients succeed by providing strategic guidance and introducing them to banking partners and other key contacts. We believe that our role is to be partners in our clients' businesses, not just their lawyers.
End to End Solution
With Renno, you can get all of your compliance and legal needs met. There’s a lot MSBs have to worry about, especially when it comes to legal and compliance - we want to make it as easy as possible. Which is why we are offering a 1-stop solution for both needs.
Our CCO service can be offered with the tools you are already using or we offer a full suite of compliance tools, including client screening, transaction monitoring and other KYC/AML tech stack options.
Privilege
The involvement of Renno Legal has another big advantage - privilege!
Other CCO service providers in the space typically are not lawyers, which means that a company’s communications with compliance are not protected by privilege. Why does this matter? Well, if such communications are not privileged, you would typically have to disclose them to a regulator whenever requested.
Our CCO-as-a-service offering is structured in a way that may protect some sensitive internal correspondences you have under the veil of privilege. So if a regulator asks you to disclose sensitive information we feel is un-strategic to disclose, we may refuse disclosure on the grounds of privileged!
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Ready to get started? Contact us today to begin your MSB licensing process.