Administrative monetary penalty on Coinseason Capital Inc.
From: Financial Transactions and Reports Analysis Centre of Canada (FINTRAC)
[2024-09-19]
Coinseason Capital Inc., a money services business located in Richmond, British Columbia, was imposed an administrative monetary penalty of $33,000 on May 31, 2024, for committing 1 violation. The administrative monetary penalty has been paid in full and proceedings have ended.
Nature of violation
- Violation #1
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Failure of a registered person or entity to submit an application to renew their registration within the prescribed period, in the prescribed manner and with the prescribed information, which is contrary to section 11.19 of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act, and paragraph 4(e), 5 and 6.1 of the Proceeds of Crime (Money Laundering) and Terrorist Financing Registration Regulations
Coinseason Capital Inc. (hereafter referred to as CoinSeason) did not renew its registration with the Centre. CoinSeason was provided with the opportunity to renew its registration with FINTRAC; however, it neither responded to FINTRAC’s emails and letters, nor did it complete its registration renewal by the deadlines provided.
Related link
- Date Modified: