Absolutely. From our perspective, the IGA allows us to void the application of FATCA. It gives us greater control. It allows us to provide information to the Canada Revenue Agency and then exchange it on a state-to-state basis, as opposed to trying to enforce a relationship to send information from a financial institution in Canada to a tax regulator in the U.S. It frees us from the restrictions in the FATCA legislation that would have required account closure in some instances. It carves out a large number of registered products. It puts us in a much better position and gives us much more control than we otherwise would have had.
On May 14th, 2014. See this statement in context.