Monthly Reporting on Suppression of Terrorism and United Nations Act Sanctions


  • Registrants and exempt international dealers and advisers have certain obligations under federal laws to provide specified monthly reports relating to terrorist financing and United Nations Act sanctions on certain countries under the:
  • Criminal Code of Canada
  • Regulations Implementing the United Nations Resolutions on the Suppression of Terrorism
  • United Nations Al-Qaida and Taliban Regulations
  • Regulations Implementing the United Nations Resolution on the Democratic People's Republic of Korea
  • Regulations Implementing the United Nations Resolution on Iran

to the principal agency or body that supervises or regulates the registrant or exempt international firm under provincial law.

The regulator, in turn, forwards information derived from these reports to the Office of the Superintendent of Financial Institutions (OSFI). Further information on these laws and the reporting obligations can be found on the OSFI website at: http://www.osfi-bsif.gc.ca New window

The Canadian Securities Administrators (CSA) have issued a Staff Notice 31-317, April 16, 2010 to Registrants, Exempt International Dealers and Exempt International Advisers on "Reporting Obligations Related to Terrorist Financing for Registrants, Exempt International Dealers, and Exempt International Advisers"

There are two types of reporting to their principal regulator required of registrants, exempt international dealers, and international advisers:

  • reporting against names listed under federal laws relating to terrorist financing
  • reporting against names listed under federal laws relating to United Nations sanctions

The CSA have now consolidated these two types of reports into a single form (Consolidated Reporting Form) that can be used for reporting by email to the appropriate CSA member (i.e., the registrant's principal regulator).

The purpose of this Notice is:

  • to provide information regarding the submission of monthly reports and advise registrants, exempt international dealers and exempt international advisers that the report may be filed with the principal regulator by email, and
  • to provide summary information on the laws which impose the monthly reporting requirements on registrants.

View the Revised CSA Staff Notice 31-317 Reporting Obligations Related to Terrorist Financing.

Where are the new consolidated reporting forms located?
New consolidated form can be accessed from:

When do we need to follow the reporting requirements?
The new reporting requirements are effective July 30, 2010

Which period should I report?
Each report should cover a calendar month.  For example, May 2010's report will cover the period from May 1, 2010 to May 31, 2010.

When is the filling deadline?
You must file each month's report by the 14th of the following month.  For example, you must file the May 2010 report by June 14, 2010.

Where do I send the report?
You can email your report to mstreport@bcsc.bc.ca or fax it to (604)899-6558

For information on Suppression of Terrorism Financing, please visit
http://www.osfi-bsif.gc.ca/eng/fi-if/amlc-clrpc/atf-fat/Pages/default.aspx  

For information on the United Nations Act Sanctions, please visit
http://www.osfi-bsif.gc.ca/Eng/fi-if/amlc-clrpc/snc/unas-slnu/Pages/default.aspx  

For questions, please contact the BCSC Compliance team


Telephone Email
Toni Mavrogeorge, Senior Registration Administrator   604-889-6695 TMavrogeorge@bcsc.bc.ca
Shirley Manikiam, Administrative Assistant 604-889-6667 smanikiam@bcsc.bc.ca
Shamira Esmail, Legal Counsel 604-899-6815 sesmail@bcsc.bc.ca

Instructions on filling out the UN Reports

1. On at least a monthly basis, the chief compliance officer or designated person at the registered firm must review the lists available at the Office of the Superintendent of Financial Institutions' (OSFI) website at www.osfi-bsif.gc.ca New window.  There are separate lists for those under the Suppression of Terrorism and those under the United Nations Act Sanctions.
2. After reviewing the OSFI lists, the chief compliance officer must file, either a NIL or YES (positive) report for both lists to the BCSC.
3. Access the report (consolidated) from BCSC Suppression of Terrorism and UN Sanctions Act Report.
4. Each report should cover a full month period and be filed no later than the 14th of the following month.  For example, a report covering May 1, 2010 to May 31, 2010, must be filed by June 14, 2010.
5. For firms with affiliates, only one form is required to be filed to the BCSC.  For example, a portfolio manager with a mutual fund subsidiary would file one report with the names of both entities listed in the Name field.
6. Reports can be submitted to the BCSC by fax at (604)899-6558 or by email to mstreport@bcsc.bc.ca.
7. Electronic signatures are acceptable if emailing a reports: faxed reports require a written signature
8. If a registered firm is submitting a YES (positive) report of a listed Entity or Designated Person, the firm must also submit the report/s to the Royal Canadian Mounted Police (RCMP) and the Canadian Security Intelligence Service (CSIS):

RCMP
Anti-terrorist Financing Group
Unclassified fax: (613) 993-9474
CSIS
Financing Unit 
Unclassified fax: (613) 231-0266 

9. For a Yes (positive) Suppression of Terrorism Report (the first report), firms must also file a Terrorist Property Report to the Financial Transactions and Reports Analysis Centre (FINTRAC) of Canada. Instructions for filing this report are available on FINTRAC's website.