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I am honoured that I have been re-appointed Chair of the International Council of Securities Associations (ICSA) for a one-year term at its Annual General Meeting in Stockholm, Sweden.
I view this as a strong opportunity to raise awareness of not only ICSA’s role in promoting efficient and well-functioning securities markets and the efficient flow of cross-border capital, but to elevate the profile of the Canadian securities industry and our capital markets as well.
At the ICSA AGM, members discussed issues and initiatives on topics including market liquidity, culture and conduct, cross border regulation, and cybersecurity. … Continue reading →
Since the Global Financial Crisis there have been 48 pieces of European Union legislation in financial services and many more delegated and implementing acts. Some rules have yet to be fully implemented and much detail still to be finalised.
The European Commission launched consultations and requested stakeholders submit evidence on how rules: 1) affect the ability of the economy to finance itself and grow; 2) result in unnecessary regulatory burdens; 3) interact and create inconsistencies in the rules framework; and 4) give rise to unintended consequences.
In launching the Call for Evidence, the Commission has not … Continue reading →
International agreements to assist tax authorities to deter and detect tax evasion have come into force in recent years. Most notable are the U.S. Foreign Accounts Tax Compliance Act (FATCA) regulations—and the intergovernmental agreements struck in many countries (including Canada) to implement the requirements—and the OECD Common Reporting Standard (CRS).
The IIAC provided leadership across the Canadian financial sector on global tax reporting requirements.
– The IIAC, through its U.S. Tax Committee and its various working groups, and its OECD CRS Working Group, advocated cost-effective rules to comply with tax reporting requirements.
– It made the … Continue reading →