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By Fredric Carsley Money laundering act Real estate developers' new burden A NEW Insurance and Risk Management in Commercial Leasing Dawn Michaeloff This is a desktop guide to the insurance and risk management provisions of a commercial lease. This publication identifies and discusses the types of insurance typically required of landlords and tenants as well as subrogation, release and indemnity provisions; and damage and destruction provisions. It explains industry phrases and terminology and provides invaluable tips and precedent clauses. Hardbound • 210 pp. • April 2009 • $98 • P/C 0299010000 • ISBN 978-0-88804-483-9 Shopping Centre Leases, Second Edition Harvey M. Haber, Q.C., LSM with numerous leading experts as contributors Shopping Centre Leases has been considered the definitive text on the subject since its inception in 1976. Written by leading commercial leasing practitioners from across Canada, this Second Edition includes a vast collection of articles and precedents on various topics of current interest. Also includes a number of precedent documents, a table of cases and relevant articles. Hardbound • 1,108 pp. • 2008 • $185 • P/C 0279010002 • ISBN 978-0-88804-477-8 For a 30-day, no-risk evaluation call: 1 800 263 2037 or 1 800 263 3269 www.canadalawbook.ca CA056 8 • JUNE 2009 Canada Law Book is A Division of The Cartwright Group Ltd. • Prices subject to change without notice, to applicable taxes and shipping and handling. CA056 (CL 1-2h).indd 1 INHOUSE CL0609 mendments to the Proceeds of Crime (Money Laundering) and Terrorist Financing Act will have an effect on the operations of "real estate developers." These amendments, in force Feb. 20, 2009, add the real estate developers to the group of financial service provid- ers obligated to comply with reporting, record keeping, ascertaining identity, third-party determination, and compli- ance regime requirements imposed by the act. The purpose of the act is to help detect and deter money laundering and the financing of terrorist activities, as well as to facilitate investigations and prosecutions of money laundering and terrorist activity financing offences. Financial entities, life insurance com- panies and life insurance brokers or agents, securities dealers, money services businesses, British Columbia notaries public and notary corporations, legal counsel and legal firms, accountants and accounting firms, real estate brokers and sales representatives, dealers in precious metals and stones, and as of Feb. 20, 2009, developers and casinos, are all entities subject to the act. Compliance with the act's regulations helps Canada accomplish its international commit- ments to participate in the fight against transnational crime, more specifically money laundering and the fight against terrorist activities. The Financial Transactions and Reports Analysis Centre of Canada, or FINTRAC, is responsible for ensuring compliance with the act. FINTRAC is a specialized agency created to collect, analyze, and disclose financial information and intelligence related to suspected money laundering and terrorist activities financing, which includes the detection and deterrence of terrorist activity financing. The real estate developers affected by the act are individuals or entities other 5/4/09 10:59:23 AM