Panama Papers fallout: RBC to comb through four decades of records + MORE Apr 6th

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The CEO of RBC, the only Canadian financial institution linked to the so-called Panama Papers scandal, said Wednesday the bank is combing through four decades worth of files to determine whether any wrongdoing took place.

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The Canada Pension Plan Investment Board says it has agreed to spend $2.5 billion US to purchase a 40 per cent stake in Glencore Agricultural Products, a division of Swiss-based commodities giant Glencore plc.

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TORONTO — A financial crimes expert says the federal anti-money-laundering agency breached its own standards by not identifying the Canadian bank it has fined $1.1 million for not reporting suspicious transactions — an assertion the watchdog denies.

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‘The uncertainty of who it is does not help the sector’s reputation,’ said Janet Ecker, the chief executive officer of the Toronto Financial Services Alliance

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B.C. premier rejects calls for spending reformsBritish Columbia Premier Christy Clark speaks about shadow flipping in the real estate industry, in Vancouver, B.C., on Friday March 18, 2016. THE CANADIAN PRESS/Darryl Dyck
VICTORIA – Premier Christy Clark says she’s not about to overhaul British Columbia’s political funding rules despite Opposition moves Wednesday to ban corporate and union donations.
Clark said she wasn’t prepared to make major changes similar to those recently announced by Ontario Liberal Premier Kathleen Wynne.
The Ontario premier announced plans to introduce campaign finance legislation that prohibits union and corporate donations and ends private fundraising events.
Clark said B.C.’s political funding rules – which have no limits on contributions but set party and candidate spending limits during elections – are sufficient. But she did say she favours more real-time financial reporting as opposed to annual reports.
“In B.C. we have limits on how much we can spend on election campaigns,” she said at a news conference…

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