FINTRAC's new consumer publication- What you need to know

Changes to Canada's anti-money laundering legislation, will come into effect on June 23, 2008.

These changes include new requirements for real estate brokers and salespersons, one of which is to obtain identification from clients during financial transactions.

FINTRAC has published a consumer publication- What you need to know- to help consumers understand why you are now required to show identification.

The publication answers the following questions:

• Why do I have to show ID when I've been a customer here all my life?
• What type of ID do I have to provide?
• What other information may I be asked to provide?
• Where can I get more information?

If you'd like to get printed copies of this publication you can send a request to publications@fintrac.gc.ca


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Forest Hill mansion sells for $2 million over asking price!

By Jenny Wagler, National Post

A Forest Hill mansion has been sold for more than $2-million over the asking price, even as the city’s real estate market otherwise continues to lose a little of its heat.

Melinda Rogers, Rogers Communications’ senior vice-president of strategy and development, paid $11.126-million to buy 8 Old Forest Hill Rd.

The home, which had a $9-million asking price, is down the road from family patriarch Ted Rogers.

The property behind the “sold” sign stretches 159 by 360 feet, and the stately stone house has 15 rooms, including six bedrooms and six bathrooms. It comes with a pool, a circular driveway, coach house and famous neighbours.

Grammy Award-winner Nelly Furtado lives down the block. So does gold baron and philanthropist Peter Munk, founder of Barrick Gold Corporation.

The home belonged to philanthropist Helen Phelan. Ms. Sversky calls it a “landmark estate,” adding “these houses do not come up.”

This, she said, made the property difficult to appraise, a possible factor in the final selling price.
Maureen O’Neill, president of the Toronto Real Estate Board, said the Forest Hill sale is ‘‘right up there’’ among the highest ever above-asking home sales.“It was a beautiful house ... renovated to the hilt,” she said. ‘‘It’s just one great big estate, a generous lot in the heart of Old Forest Hill.’’

Ms. O’Neill said fewer houses are going over asking than during last year’s record-setting spree.
The Old Forest Hill Road house — and a Riverdale home that sold last month for $929,000, $150,000 over asking — are anomalies, she said. In the current real estate climate, bidding wars remain the exception and not the rule.

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20 Things You Didn't Know About Victoria's Day

1. Victoria Day is a Canadian Tradition and doesn't actually exist in most of England. But it's celebrated in parts of Scotland, especially Edinburgh, where it remains an official holiday.
2. While the holiday moves around a lot (falling this year on May 19th), the original rules stated it be annually celebrated on May 24th, regardless of what day that was, unless it was a Sunday- and then the observance would be moved to the 25th.
3. Victoria Day is a legal Canadian stat, which means it's also observed in Quebec...Up until three years ago, it was called Fête de Dollard after Adam Dollard des Ormeaux a French hero who helped lead a force in what is now Montreal against the Iroquois in 1660.
   In 2003, it was renamed National Patriots Day in Quebec, ignoring the Queen reference altogether.
4. When Victoria was just a little girl, she was known by her nickname, Drina.
5. Despite being born in England, Victoria only spoke German up until the age of three.

Click here to read the rest of the City News list!

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