Change Log: FINTRAC PPM & RBA
Change Made on March 4, 2026
Topic: (14) Politically Exposed Persons (PEP) and Heads of International Organizations (HIO)
Determination
Original (2) To mitigate this risk, Licensees must ensure their customers understand the definitions in Section 14.1 and underlying subsections collect a duly signed and completed ‘Borrower PEP Declaration’ (Appendix 14) from each applicant before their application is submitted to a Lender
New Version (2) To mitigate this risk, Licensees must ensure their customers understand the definitions in Section 14.1 and underlying subsections collect a duly signed and completed ‘Borrower PEP Declaration’ (Appendix 14) from each applicant before their application is submitted to a Lender.
A new signed and completed “Borrower PEP Declaration" Form is required after exceeding 4 months since originally signed OR when a new file is started.
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Change Made on March 26, 2026
Section: Section 17 - Ministerial Directives
Location of Changes:
- Section 17, point 1
- Section 17, point 2
- Section 17, point 4
Description of Change: Myanmar was added to the list of Ministerial Directive countries.
Specific Update to Point 4 (a): “a. We must report all such transactions to FINTRAC regardless of the amount.
