In general terms, we're supportive of the changes and the new form that's come out. The form T1135 implements that. The three-year time period is important, to give the government more time to track down the people who are not complying. I think our only concern with the rules is, like a lot of these, that they have to be careful. The form creates quite an onerous reporting obligation on those who want to comply. There aren't sufficient exceptions for what is called “specified foreign property” actually located in Canada and under the control of the Canadian brokerage or banking industry.
On November 25th, 2013. See this statement in context.