Voyageur 127
Canada Dodges the Financial-Crime Grey List, and Air Canada Cuts a Deal With 11,000 Ground Workers.
News for residents of the “11th province”: Canadians abroad.
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Canada Dodges the Financial-Crime Grey List
Canada is expected to avoid the global financial-crime grey list after a review of its anti-money-laundering controls. The final report will not be delivered until the fall, but The Globe and Mail says Canada’s likely to stay off the list.
The list is run by the Financial Action Task Force, a group that flags countries with weak controls against money laundering and terrorist financing. Landing on the list doesn’t make a country untouchable, but it can make banks twitchy and usually means extra questions, extra paperwork, and extra reasons for a foreign compliance desk to look at a Canadian transfer and sigh.
For Canadians abroad, it’s important because cross-border banking already has enough headache attached. If Canada keeps its clean standing, wiring money, dealing with foreign banks, and proving that Canadian accounts are boring will remain a little less annoying.
Read more: The Globe and Mail / FATF
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AC Cuts a Deal With 11,000 Ground Workers
Air Canada has reached a tentative contract with the union that represents more than 11,000 workers who keep the airline moving.
The deal covers IAMAW members in maintenance, cabin services, airport airside operations, cargo, finance, and clerical roles. Terms are still confidential while union members vote, ratification is expected in the next few weeks. Air Canada's board also has to approve it.
The deal comes after a separate four-year Unifor deal for about 6,000 customer service workers. The agreements don’t guarantee a blissful summer travel season, unfortunately - nothing involving airports should be trusted that far - but two settled labour files are still better than two looming ones if you are trying to get home, leave home, or explain to relatives why a 47-minute connection through Pearson was a terrible idea.
Read more: Air Canada via GlobeNewswire / PAX News