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Equitable Trust given order to commence operations and carry on business
March 1, 2019
1:40 pm
Doug
British Columbia, Canada
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An "order to commence operations and carry on business" is considered the final step in the Minister of Finance and OSFI approval process and, so, I apologize for my delay in posting this updated (believe I mentioned the earlier proposal to establish to a trust company).

Equitable Trust was given, in December 2018, such an order. It will be a subsidiary of Equitable Bank, which, interestingly, was previously known as Equitable Trust before continuing as a Schedule I chartered bank. So, while EQ Bank has yet to outline its plans, I suspect we'll see EQ Bank doing something similar to Home Bank and Home Trust whereby customers can hold separate CDIC insured deposits within each institution and (hopefully) a single online customer profile. sf-cool

TRUST AND LOAN COMPANIES ACT
Equitable Trust — Order to commence and carry on business
Notice is hereby given of the issuance, pursuant to subsection 53(1) of the Trust and Loan Companies Act, of an order authorizing Equitable Trust to commence and carry on business, effective December 19, 2018.

January 10, 2019

Jeremy Rudin
Superintendent of Financial Institutions

Source: http://www.gazette.gc.ca/rp-pr.....g.html#ne5

Cheers,
Doug

P.S. I note that the order was issued Dec. 19th, 2018, the same day that the hyper-partisan Clerk of the Privy Council and Head of the Public Service Michael Wernick had his pressuring telephone call with Ms. Wilson-Raybould. sf-frown

March 1, 2019
6:10 pm
Norman1
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It is close.

It was "The Equitable Trust Company" that was continued as "Equitable Bank":

THE EQUITABLE TRUST COMPANY

LETTERS PATENT OF CONTINUANCE

Notice is hereby given that The Equitable Trust Company, incorporated under the Trust and Loan Companies Act (Canada) with its head office in Toronto, Ontario, intends to make an application pursuant to section 35 of the Bank Act (Canada) for the approval of the Minister of Finance (Canada) for letters patent continuing The Equitable Trust Company as a bank under the Bank Act (Canada), with the legal names “Equitable Bank” in the English form and “Banque Équitable” in the French form. Subject to the approval of the Minister of Finance (Canada), the Trust and Loan Companies Act (Canada) shall cease to apply to The Equitable Trust Company as of the date the letters patent of continuance take effect.

Note: The publication of this Notice should not be construed as evidence that letters patent will be issued to The Equitable Trust Company to continue as a bank. The granting of letters patent will be dependent upon the application review process under the Bank Act (Canada) and the discretion of the Minister of Finance.

Toronto, March 16, 2013

THE EQUITABLE TRUST COMPANY
[11-4-o]

OFFICE OF THE SUPERINTENDENT OF FINANCIAL INSTITUTIONS

BANK ACT

Equitable Bank — Letters patent of continuance

Notice is hereby given of the issuance, pursuant to section 35 of the Bank Act, of letters patent continuing Equitable Trust Company as a bank under the Bank Act under the name in English, Equitable Bank, and in French, Banque Équitable effective July 1, 2013.

September 26, 2013

JULIE DICKSON
Superintendent of Financial Institutions

[41-1-o]

March 2, 2019
1:38 pm
Doug
British Columbia, Canada
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Thanks, Norman, but it looks like from the two regulatory notices you shared, they're the same company. I note that in March 2013, it was The Equitable Trust Company and in September 2013 as Equitable Trust Company. It could be a capitalization error on the initial article on OSFI's part, or Equitable could've done a minor change in their company name (such a change may not have required formal gazetting by OSFI, too) on their existing letters patent of incorporation.

At any rate, regardless of initial article discrepancy, it's the same Equitable Trust then and now. The difference is now they've simply dropped the "company" from their name. 😉

Cheers,
Doug

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