Lower Mainland property developer Bene Group has delisted a company registered with the federal government that allowed it to engage in foreign exchange dealing and money transferring.
B.C. Corporate Registry records also showed the Bene Financial Group was dissolved as a company on June 28, 2016 by the province for failure to file annual reports. That was nearly two years before the company was registered, as required by federal law, with the Financial Transactions and Reports Analysis Centre , Canada’s financial intelligence gathering agency.
Bercier said, under federal laws, the agency could not provide any specific information on Bene Financial other than what was already made public on the MSB registry. Bercier said MSBs must register with Fintrac when they engage in foreign exchange dealing, transfer funds or issue money orders and traveller’s cheques.
The Postmedia investigation found that Bene Financial had potentially run afoul of several federal rules, including one that an MSB must submit a cancellation of a registration within 30 days if it ceases operations and must notify Fintrac of location and other changes.