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OSFI Ruling Regarding A Canadian Subsidiary Assisting A Foreign Bank’s Portfolio Management Services
The Office of the Superintendent of Financial Institutions (Canada) ("OSFI") has published a ruling that BLG obtained for one of its foreign bank clients that confirms that a Canadian entity that provides back office services to a foreign portfolio manager does not carry on a financial services business within the foreign bank regulation context (the "Ruling").
Canada
24 Nov 2008
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