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Email this2:28 pm
April 6, 2013
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Interesting speech by Equitable Bank CEO Andrew Moor. Gives some glimpses into what is behind the scenes at Equitable Bank and EQ Bank:
YouTube: Andrew Moor, CEO of EQ Bank, at SIT Interchange 2015
He refers to the preceding speech by retired TD Bank executive Keith Gray, who was responsible for discount brokerage TD GreenLine:
3:54 pm
October 21, 2013
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At about the 19 minute mark, Moor alludes to the US "taking jurisdiction over our accounts" if I remember correctly, with Cdn govt agreement..
What does that refer to? He says he doesn't agree with it.
4:45 pm
April 6, 2013
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That's probably the Canada-US Intergovernmental Agreement that was signed in February 2014.
Under the agreement, it looks like Canadian financial institutions are required to find accounts that have owners with indications of being U.S. persons. The accounts are reported to CRA. CRA will then exchange the information with the IRS in the US.
The Canadian Bankers Association has this information page:
FATCA and the Canada-US Intergovernmental Agreement (IGA): Information for Clients
6:53 pm
October 21, 2013
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Thanks, Norman.
9:08 pm
December 12, 2009
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Loonie said
Thanks, Norman.
Yeah, Norman's correct. I believe he'd be referring to FATCA. 🙂
Cheers,
Doug
6:11 pm
February 16, 2013
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Here's a good one. A couple of years ago, I wintered in the US for 3 months. During that time, I changed my contact telephone number online at my Big Bank to the one at the condo where I was staying in the US. This was so they could contact me in case there was some sort of fraud on my credit card, etc. Lo and behold, when I returned, I had to fill out a FATCA form confirming that I was NOT a US person. I learned my lesson - that is the last time I change my phone number during any vacation! 
