FSB Issues Consultative Document on Securities Lending and Repos

The Financial Stability Board (FSB) has issued a consultative document on Securities Lending and Repos in an attempt to strengthen the oversight and regulation of “shadow banking” system. FSB believes policies are needed to address potential systemic risks associated with “shadow banking”, including prevention of “runs” with activities associated with securities financing contracts such as … Read more

CASLA Announces New Legal Sub-Committee

CASLA announces new legal sub-committee to support related CASLA initiatives led by Lesley Charkow. The board consists of a diversified mix of legal and business experience from a variety of financial institutions. The Board of CASLA welcomes the members and thanks them for their participation on subcommittee. For a list of all members please click … Read more

The Tax Sub-Committee Requests Technical Interpretation from CRA

The tax sub-committee has requested a technical interpretation from the Rulings Directorate of the Canada Revenue Agency (“CRA”)  to confirm that Canadian witholding tax does not arise in respect of certain manufactured dividends/substitute payments (“Compensation Payments”) paid by a Canadian borrower to a non-resident lender under a securities lending arrangement.