(January 22 – 15:50 ET) – The Canada Customs and Revenue Agency is requesting comment on its draft guidelines for third party civil penalty provisions.

Back in July, CCRA initiated consultations on the form and content of the administrative guidelines for third party civil penalty provisions. It now says that consultations with various national legal, accounting, valuation and other industry associations have been completed and draft guidelines developed.

The bodies that have had a say include: the Canadian Association of Financial Insurance Advisors; Canadian Association of Financial Planners; Canadian Bankers’ Association; Financial Planners Standards Council; Investment Dealers Association; and the Investment Funds Institute of Canada.

The CCRA has now released a copy of the draft information circular containing the guidelines and has maid it available on its web site. Members of the organizations consulted by the CCRA are encouraged to forward their comments to their respective organization.

Comments are due by February 16.
-IE Staff