Thank you, Chair.
Thanks to our witnesses for being here today, or being on video as the case may be.
My first question is for Ian Russell, president and CEO of the Investment Industry Association of Canada. Mr. Russell, due to the fact that FATCA was going to come into force regardless if there were an IGA or not....
I understand that the U.S. made several concessions for Canadians that they have not done for other countries, in part because of the intense negotiating work by the late Minister of Finance. This includes exempting a large number of accounts from FATCA, including registered retirement savings plans, registered retirement income funds, registered disability savings plans, and tax-free savings accounts.
Do you agree that these exemptions will help to protect the financial information of U.S.-Canadian dual citizens?