FINTRAC Notices and Advisories for Reporting Entities

The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) has issued numerous notices and advisories to reporting entities. These updates cover a range of obligations, including guidance on bribery and corruption, politically exposed persons, ministerial directives, and beneficial ownership reporting.

Shimadzu FDR Visionary Suite Health Product Recall

Health Canada has issued a Type II recall for Shimadzu Corporation's FDR Visionary Suite medical device due to a potential safety issue with the X-ray high voltage generator. The issue could lead to overheating and smoke. Healthcare providers are advised to contact the manufacturer for more information.

Health product recall: APO-BRIMONIDINE-TIMOP weight out of specification

Health Canada has issued a recall for APO-BRIMONIDINE-TIMOP due to a weight specification issue in lot VK2312. The recall is classified as Type II, indicating a low probability of adverse health consequences. Retailers are instructed to remove the affected product from shelves.

Olympus MAJ-1443 and MAJ-1444 Valves Recall

Health Canada has issued a Type II recall for Olympus MAJ-1443 and MAJ-1444 valves. These valves are no longer compatible with OER-Pro and OER-Elite automated endoscope reprocessors and require reprocessing via updated instructions. Healthcare providers should contact the manufacturer for further information.

Lifeworks Technology Massage Guns Recalled as Unauthorised Device

Health Canada has recalled Lifeworks Technology Vibra-Heal and Restore Massage Guns because they were distributed without a valid medical device licence. Sales have ceased, and the company plans to apply for the necessary licence.

ECB Fines J.P. Morgan for Misreporting Capital Requirements

The European Central Bank (ECB) has imposed two penalties totaling €12.18 million on J.P. Morgan SE for misreporting capital requirements between 2019 and 2024. The bank incorrectly calculated risk-weighted assets due to misclassifications and exclusions in credit risk and credit valuation adjustment risk reporting.

ECB welcomes Frank Elderson's Vice-Chair term extension

The European Central Bank (ECB) announced the extension of Frank Elderson's term as Vice-Chair of the Supervisory Board until December 2028. This decision follows a proposal by the ECB Governing Council and approval from the European Parliament.

ECB Fines Crédit Agricole €7.5M for Climate Risk Identification Failures

The European Central Bank (ECB) has imposed periodic penalty payments of €7,551,050 on Crédit Agricole for failing to sufficiently assess its climate-related and environmental risks by the deadline of 31 May 2024. This enforcement action highlights the ECB's commitment to ensuring banks adequately identify and manage climate risks.

ECB Appoints Thomas Broeng Jorgensen Director General Specialised Institutions

The European Central Bank (ECB) has appointed Thomas Broeng Jorgensen as Director General for Specialised Institutions and Less Significant Institutions, effective March 1, 2026. He will oversee the direct supervision of specialised banks and the oversight of less significant banks by national supervisors.

ECB Advances Climate and Nature Work

The European Central Bank (ECB) has concluded its 2024-2025 plan for integrating climate and nature-related risks into its core work. The ECB has refined its risk assessments, informed policy decisions, and improved supervision of banks, while also managing its own portfolios and operations.