Yes, thank you.
It has refused U.S. persons as customers. Some Swiss banks are the same. The government should include a non-discrimination clause in the IGA so that U.S. citizens cannot be disadvantaged from accessing financial services.
The solution to all of this, I think, is administrative. If the CRA and the Canadian government were to push the IRS to have simpler and clearer rules on things like tax-free savings accounts, RRSPs, Canadian mutual funds, then the compliance burden on U.S. citizens in Canada would be reduced.
So my suggestion to you here today is that FATCA is not going away. There's going to be an IGA, but the government can take steps to work with the IRS to translate common Canadian financial products better so that all of the million U.S. citizens in Canada have an easier time complying with the U.S. tax obligations, which are now much more important to them because of FATCA.
Thank you very much. I will be happy to answer your questions.