C-291453-4Charles III2025-2026An Act to establish the Financial Crimes Agency and to make consequential amendments to certain Acts and regulationsFinancial Crimes Agency ActFinancial Crimes Agency Act20264
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MINISTER OF FINANCE91260RECOMMENDATIONHer Excellency the Governor General recommends to the House of Commons the appropriation of public revenue under the circumstances, in the manner and for the purposes set out in a measure entitled “An Act to establish the Financial Crimes Agency and to make consequential amendments to certain Acts and regulations”.SUMMARYThis enactment establishes the Financial Crimes Agency as a specialized federal law enforcement agency whose mandate is to investigate financial crimes and to contribute to the recovery of proceeds of crime. It also makes consequential amendments to certain Acts and regulations.TABLE OF PROVISIONSAn Act to establish the Financial Crimes Agency and to make consequential amendments to certain Acts and regulationsShort TitleFinancial Crimes Agency ActDefinitionsDefinitionsObject of ActObjectFinancial Crimes AgencyEstablishmentAgency establishedMinister responsibleHead officeMandateMandateCommissionerAppointment — CommissionerRank of deputy headRemunerationRoleDelegation by CommissionerEmployeesPowers of CommissionerNegotiation of collective agreementsArrangementArrangementFinancial Crimes Investigations and Recovery of Proceeds of CrimePower to investigateCriteriaInvestigations officersPolice officersRole of Attorney General of CanadaPowers of Attorney General of CanadaPowers of Attorney General of provinceFiat of Attorney General of CanadaFiat filed in courtMiscellaneousAgreementsRegulationsSpecial reportAnnual reportFive-year reviewAmendments to this ActConsequential AmendmentsAmendments to ActsAccess to Information ActCriminal CodeFinancial Administration ActPrivacy ActPublic Service Superannuation ActSpecial Economic Measures ActImmigration and Refugee Protection ActSecurity of Canada Information Disclosure ActJustice for Victims of Corrupt Foreign Officials Act (Sergei Magnitsky Law)Public Complaints and Review Commission ActAmendments to RegulationsAccess to Information RegulationsPrivacy RegulationsFederal Real Property and Federal Immovables RegulationsCitizenship RegulationsDepartment of Employment and Social Development RegulationsNational Security Review of Investments RegulationsTransitional ProvisionComplaintsComing into ForceFirst anniversary of royal assentHis Majesty, by and with the advice and consent of the Senate and House of Commons of Canada, enacts as follows:Short Title
Short titleThis Act may be cited as the Financial Crimes Agency Act.
Definitions
DefinitionsThe following definitions apply in this Act.Agency means the Financial Crimes Agency established by section 4. (Agence)Commissioner means the Commissioner of the Agency appointed under subsection 8(1). (commissaire)financial crime means any offence, under an Act of Parliament, relating to financial assets — including digital assets — or financial services or markets, includingan offence under any Act of Parliament involvinglaundering, trafficking or possession of proceeds of crime, orany conduct that adversely affects, or has the potential to adversely affect, the security or integrity of Canada’s economy or financial system or of any financial market in Canada;a designated offence, as defined in subsection 462.3(1) of the Criminal Code, from which proceeds of crime are obtained or derived directly or indirectly; andan offence under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act. (crime financier)Minister means the Minister of Finance. (ministre)proceeds of crime has the same meaning as in subsection 462.3(1) of the Criminal Code. (produits de la criminalité)
Object of Act
ObjectThe object of this Act is to establish a specialized federal law enforcement agency with the capability and expertise necessary toinvestigate serious and complex financial crimes;contribute to the recovery of proceeds of crime; andparticipate in international efforts to counter crimes of a financial nature.
Financial Crimes AgencyEstablishment
Agency establishedThe Financial Crimes Agency is established.
Minister responsibleThe Minister is responsible for the Agency.
Head officeThe head office of the Agency is to be in the National Capital Region, as described in the schedule to the National Capital Act.Other officesThe Commissioner may, with the approval of the Minister, establish other offices of the Agency elsewhere in Canada.
Mandate
MandateThe mandate of the Agency is to investigate financial crimes and contribute to the recovery of proceeds of crime.
Commissioner
Appointment — CommissionerThe Commissioner of the Agency is to be appointed by the Governor in Council.TermThe Commissioner is to hold office on a full-time basis during pleasure for a term of up to five years.ReappointmentThe Commissioner may be reappointed for one or more terms of up to five years each. However, the Commissioner is to serve no more than 10 years in office in total.Absence or incapacityIn the event of the absence or incapacity of the Commissioner, or if the office of Commissioner is vacant, the Minister may appoint a qualified person to exercise the powers and perform the duties and functions of the Commissioner, but no person may be so appointed for a term of more than 90 days without the approval of the Governor in Council.
Rank of deputy headThe Commissioner has the rank and all the powers of a deputy head of a department.Peace officerThe Commissioner is a peace officer in every part of Canada and has all the powers, authority, protection and privileges that a peace officer has by law.
RemunerationThe Commissioner is to be paid the remuneration that is fixed by the Governor in Council.BenefitsThe Commissioner is deemed to be employed in the federal public administration for the purposes of the Government Employees Compensation Act and the regulations made under section 9 of the Aeronautics Act.
RoleThe Commissioner, under the direction of the Minister, has the control and management of the Agency and all matters connected with the Agency.DirectionsThe Minister may direct the Commissioner on any matter that, in the Minister’s opinion, materially affects public policy or the strategic direction of the Agency.Statutory Instruments ActA direction under subsection (2) is not a statutory instrument for the purposes of the Statutory Instruments Act.Direction available to publicAs soon as feasible after issuing a direction under subsection (2), the Minister must make it available to the public.
Delegation by CommissionerThe Commissioner may delegate to any employee of the Agency, subject to any terms and conditions that the Commissioner specifies, any of the Commissioner’s powers, duties or functions under this or any other Act of Parliament, except the power to delegate under this section.
Employees
Powers of CommissionerThe Commissioner has exclusive authority toappoint, lay off or terminate the employment of the employees of the Agency; andestablish standards, procedures and processes governing staffing, including the appointment or lay-off of employees or the termination of their employment otherwise than for cause.Right of employerNothing in the Federal Public Sector Labour Relations Act is to be construed so as to affect the right or authority of the Commissioner to deal with the matters referred to in paragraph (1)(b).Human resources managementSubsections 11.1(1) and 12(2) of the Financial Administration Act do not apply to the Agency, and the Commissioner maydetermine the organization of and classify the positions in the Agency;set the terms and conditions of employment for employees, including termination of employment for cause, and assign to them their duties;after consultation with the President of the Treasury Board, determine and regulate the pay to which employees are entitled for services rendered, their hours of work and their leave and any related matters; andprovide for any other matters that the Commissioner considers necessary for effective human resources management in the Agency.
Negotiation of collective agreementsBefore entering into collective bargaining with the bargaining agent for a bargaining unit composed of Agency employees, the Commissioner must have the Agency’s negotiating mandate approved by the President of the Treasury Board.
Arrangement
ArrangementThe Commissioner and the Commissioner of the Royal Canadian Mounted Police, with the approval of the Minister of Public Safety and Emergency Preparedness, must enter into an arrangement for the use of the Royal Canadian Mounted Police, or any portion of it, with respect to the provision of services and assistance to the Agency.Amendment and terminationThe Commissioner and the Commissioner of the Royal Canadian Mounted Police, with the approval of the Minister of Public Safety and Emergency Preparedness, may jointly amend or terminate the arrangement.ClarificationFor greater certainty, persons who provide services and assistance to the Agency under the arrangement are not employees of the Agency and are deemed, for all purposes, to be performing duties or functions under the Royal Canadian Mounted Police Act.DelegationIf an arrangement is entered into under subsection (1), the Commissioner may delegate any of the Commissioner’s powers, duties and functions under section 16, subject to any terms or conditions in the arrangement, to any person referred to in subsection (3).
Financial Crimes Investigations and Recovery of Proceeds of Crime
Power to investigateThe Commissioner may, in the fulfillment of the Agency’s mandate, investigate any financial crime or any offence under any Act of Parliament committed in relation to a financial crime.CommencementAn investigation may be commenced by the Commissioneron the Commissioner’s own initiative; orat the request of, or in collaboration with, any law enforcement agency in or outside Canada or any public body in or outside Canada having authority to conduct investigations.ConsultationIf the Commissioner considers it appropriate to do so, the Commissioner must, before commencing any investigation on their own initiative, consult with any other relevant law enforcement agency in Canada.
CriteriaIn order to focus the Agency’s efforts on serious and complex financial crimes, the Commissioner may establish criteria respecting which matters should be investigated under this Act.
Investigations officersThe Commissioner may designate any employee of the Agency, either by name or by class, to be an investigations officer whose duties include the conduct of investigations and the recovery of proceeds of crime under this Act.ClarificationFor greater certainty, every employee designated under subsection (1) is a public officer for the purposes of section 25 and Part XV of the Criminal Code.
Police officersThe Commissioner may, in accordance with the regulations, designate any employee of the Agency, either by name or by class, to be a police officer whose duties include the conduct of investigations and the recovery of proceeds of crime under this Act.Peace officerEvery employee who is designated as a police officer is a peace officer in every part of Canada and has all the powers, authority, protection and privileges that a peace officer has by law until the employee ceases to be so designated.
Role of Attorney General of Canada
Powers of Attorney General of CanadaDespite any other Act of Parliament, the Attorney General of Canada may conduct proceedings in respect of an offence under any Act of Parliament if the alleged offence is a financial crime that has been investigated under this Act, and for that purpose the Attorney General of Canada may exercise all the powers and perform all the duties and functions assigned by or under the Criminal Code to the Attorney General.
Powers of Attorney General of provinceSubject to section 22, section 20 does not affect the authority of the Attorney General of a province to conduct proceedings in respect of an offence referred to in that section or to exercise any of the powers or perform any of the duties and functions assigned by or under the Criminal Code to the Attorney General.
Fiat of Attorney General of CanadaIf the Attorney General of Canada believes that an offence referred to in section 20 has been committed in any province, the Attorney General of Canada may issue a fiat to that effect and may serve the fiat on the Attorney General of the province.FactorsIn deciding to issue a fiat under subsection (1), the Attorney General of Canada may take into account, among other things, any of the following:whether the offence is transnational in nature;whether the offence has been committed in more than one province;whether the national interest is involved.Effect of fiatIf a fiat issued under subsection (1) is served on the Attorney General of a province, the fiat establishes the exclusive authority of the Attorney General of Canada with respect to the conduct of any proceedings in respect of the offence described in the fiat.
Fiat filed in courtIf proceedings are conducted by or on behalf of the Attorney General of Canada in respect of an offence in relation to which a fiat has been issued under subsection 22(1), the fiat or a copy of it may be filed with the court in which the proceedings are conducted.ProofA fiat or a copy of a fiat purporting to have been issued under subsection 22(1) by the Attorney General of Canada that is filed with the court under subsection (1) is conclusive proof that proceedings in respect of the offence described in the fiat may be conducted by or on behalf of the Attorney General of Canada and is admissible in evidence without proof of the signature or official character of the Attorney General of Canada.
Miscellaneous
AgreementsThe Agency may enter into contracts, agreements or other arrangements with any person or entity, in its own name or in the name of His Majesty in right of Canada.ClarificationFor greater certainty, an agreement or arrangement may, among other things, be in respect of information sharing in relation to financial crimes or collaborating in the investigation of financial crimes.
RegulationsThe Governor in Council may make regulations for carrying out the object of this Act, including regulationsrespecting the duties and functions of employees of the Agency designated as investigations officers under section 18;respecting the designation of employees of the Agency as police officers under subsection 19(1), including regulations establishing criteria that an employee must meet in order to be so designated, and the duties and functions of those employees;respecting the collection, retention, use, disclosure and disposal of information for the purposes of this Act; andestablishing an entity for the purpose of reviewing public complaints concerning the conduct of employees and former employees of the Agency designated as police officers under subsection 19(1).RecommendationsRegulations made under paragraph (1)(b) establishing criteria for the designation of employees of the Agency as police officers must be made on the recommendation of the Minister and the Minister of Public Safety and Emergency Preparedness.ClarificationRegulations made under paragraph (1)(d) must provide that the persons reviewing the conduct are not peace officers.DeemingThe entity established by regulations made under paragraph (1)(d) is deemed to be a public authority for the purposes of subsection 25.1(3.1) of the Criminal Code.
Special reportThe Commissioner may, on the request of the Minister or on the Commissioner’s own initiative, provide the Minister with a special report concerning any matter that relates to the Agency’s mandate or strategic direction.
Annual reportThe Commissioner must, on or before September 30 of each year following the Agency’s first full year of operations, submit an annual report on the operations of the Agency for the preceding fiscal year to the Minister, and the Minister must cause a copy of the report to be tabled in each House of Parliament on any of the first 30 days on which that House is sitting after the Minister receives it.
Five-year reviewFive years after the day on which this section comes into force, or as soon as feasible after that day, the Minister must have a review of the provisions and operation of this Act undertaken.
Amendments to this Act
Paragraph 25(1)(d) of the Financial Crimes Agency Act is repealed.Subsections 25(3) and (4) of the Act are repealed.
Consequential AmendmentsAmendments to ActsR.S., c. A-1Access to Information Act
Schedule I to the Access to Information Act is amended by adding the following in alphabetical order under the heading “Other Government Institutions”:Financial Crimes AgencyAgence contre les crimes financiers
R.S., c. C-46Criminal Code
The definition competent authority in subsection 25.1(1) of the Criminal Code is amended by adding the following after paragraph (a):in the case of a person designated as a police officer under subsection 19(1) of the Financial Crimes Agency Act, the Minister of Finance, personally;
R.S., c. F-11Financial Administration Act
Schedule I.1 to the Financial Administration Act is amended by adding, in alphabetical order in column I, a reference toFinancial Crimes AgencyAgence contre les crimes financiersand a corresponding reference in column II to “Minister of Finance”.
Schedule V to the Act is amended by adding the following in alphabetical order:Financial Crimes AgencyAgence contre les crimes financiers
Part III of Schedule VI to the Act is amended by adding, in alphabetical order in column I, a reference toFinancial Crimes AgencyAgence contre les crimes financiersand a corresponding reference in column II to “Commissioner”.
R.S., c. P-21Privacy Act
The schedule to the Privacy Act is amended by adding the following in alphabetical order under the heading “Other Government Institutions”:Financial Crimes AgencyAgence contre les crimes financiers
R.S., c. P-36Public Service Superannuation Act
Part II of Schedule I to the Public Service Superannuation Act is amended by adding the following in alphabetical order:Financial Crimes AgencyAgence contre les crimes financiers
1992, c. 17Special Economic Measures Act
Section 6.1 of the Special Economic Measures Act is amended by striking out “and” at the end of paragraph (g), by adding “and” at the end of paragraph (h) and by adding the following after paragraph (h):the Commissioner of the Financial Crimes Agency.
Section 17 of the Act is replaced by the following:
Sharing of informationThe Minister of Foreign Affairs, any Minister designated under subsection 6(2) or (3), the Superintendent of Financial Institutions, the Director of the Canadian Security Intelligence Service and the Commissioner of the Financial Crimes Agency may assist the Minister of Finance in matters relating to the making, administration or enforcement of regulations referred to in subsection 14(1) or an order referred to in subsection 15(1) and, for that purpose, those persons and the Minister of Finance may collect information from and disclose information to each other.
2001, c. 27Immigration and Refugee Protection Act
Subsection 150.1(1) of the Immigration and Refugee Protection Act is amended by striking out “and” at the end of paragraph (d) and by adding the following after that paragraph:the retention, use, disclosure and disposal by the Financial Crimes Agency of biometric information and any related personal information that is collected under this Act and provided to that Agency for the fulfillment of its mandate; and
2015, c. 20, s. 2; 2019, c. 13, s. 114(E)Security of Canada Information Disclosure Act
Schedule 3 to the Security of Canada Information Disclosure Act is amended by adding, in alphabetical order in column 1, a reference toFinancial Crimes AgencyAgence contre les crimes financiersand a corresponding reference in column 2 to “Commissioner of the Financial Crimes Agency”.
2017, c. 21Justice for Victims of Corrupt Foreign Officials Act (Sergei Magnitsky Law)
Section 7.1 of the Justice for Victims of Corrupt Foreign Officials Act (Sergei Magnitsky Law) is amended by striking out “and” at the end of paragraph (g), by adding “and” at the end of paragraph (h) and by adding the following after paragraph (h):the Commissioner of the Financial Crimes Agency.
2024, c. 25Public Complaints and Review Commission Act
Section 33 of the Public Complaints and Review Commission Act is amended by adding the following after subsection (2):Complaints — Financial Crimes Agency ActAny individual may make a complaint concerning the conduct, in the performance of any duty or function under the Financial Crimes Agency Act, of any person who, at the time that the conduct is alleged to have occurred, was an employee of the Financial Crimes Agency designated as a police officer.AdaptationsFor the purpose of dealing with a complaint made under subsection (2.1), in this Act and in any regulation made under this Act,every reference to “complainant” is to be read as a reference to “person making the complaint”;every reference to “CBSA employee” is to be read as a reference to “employee of the Financial Crimes Agency who is designated as a police officer under subsection 19(1) of the Financial Crimes Agency Act”;every reference to “Minister” is to be read as a reference to “Minister of Finance”;every reference to “President” is to be read as a reference to “Commissioner of the Financial Crimes Agency”; andevery reference to “Agency” is to be read as a reference to “Financial Crimes Agency”.
Amendments to RegulationsSOR/83-507; SOR/2018-38. s. 1(E)Access to Information Regulations
Schedule I to the Access to Information Regulations is amended by adding the following after item 3:Financial Crimes Agency
SOR/83-508; SOR/2018-39, s. 1(E)Privacy Regulations
Schedule II to the Privacy Regulations is amended by adding the following after item 18:Financial Crimes Agency
Schedule III to the Regulations is amended by adding the following after item 3:Financial Crimes Agency
SOR/92-502; SOR/2020-134, s. 1Federal Real Property and Federal Immovables Regulations
Subsection 8(3) of the Federal Real Property and Federal Immovables Regulations is amended by striking out “or” at the end of paragraph (a), by adding “or” at the end of paragraph (b) and by adding the following after paragraph (b):an acquisition entered into by the Minister responsible for the Financial Crimes Agency for the purpose of pursuing investigations under the Financial Crimes Agency Act.
Subsection 9(2) of the Regulations is amended by striking out “or” at the end of paragraph (a), by adding “or” at the end of paragraph (b) and by adding the following after paragraph (b):the Minister responsible for the Financial Crimes Agency, if a disposition is in respect of real property or an immovable acquired for the purpose of pursuing investigations described in paragraph 8(3)(c).
SOR/93-246; SOR/2009-108. s. 1Citizenship Regulations
Section 26.7 of the Citizenship Regulations is replaced by the following:
The Minister may disclose the identity or the status of a person to the Royal Canadian Mounted Police, to the Financial Crimes Agency, to any provincial or municipal police force or to any other investigative bodies with which the Minister has entered into an arrangement or agreement for the disclosure of that information.
SOR/2005-311; 2013, c. 40, par. 237(3)(a)Department of Employment and Social Development Regulations
Section 3 of the Department of Employment and Social Development Regulations is amended by adding the following after paragraph (h):the Financial Crimes Agency, for the fulfillment of the Agency’s mandate;
SOR/2009-271National Security Review of Investments Regulations
Section 7 of the National Security Review of Investments Regulations is amended by adding the following after paragraph (e):Financial Crimes Agency;
Transitional Provision
ComplaintsIf, before the day on which section 33 of the Public Complaints and Review Commission Act comes into force, an entity has been established by regulations made under paragraph 25(1)(d), every complaint made to that entity for which no final decision has been made is deemed to be a complaint made under subsection 33(2.1) of that Act.
Coming into Force
First anniversary of royal assentSection 27 comes into force on the first anniversary of the day on which this Act receives royal assent.S.C. 2024, c. 25 or royal assentSection 29 comes into force on the day on which section 33 of the Public Complaints and Review Commission Act comes into force or, if it is later, on the day on which this Act receives royal assent.