INFORMATION FOR PROSPECTIVE INVESTORS IN CANADA
Investors considering investing in Canada may wish to take note of the following problem:
5 canadian banks
TD, BMO, RBC, CIBA, and Scotiabank
ISSUE
Identified to the Banks
COMMENCEment
Early 2024
CONCLUSION
Pending
A timeline of events is set out below.
CHRONOLOGY
NOTES ON ENTRIES
Communications are to the Banks/intermediaries, unless otherwise specified.
Activities received as applying pressure are as perceived by the communicator.
SINCE COMMENCEMENT
SINCE COMMENCEMENT
CHRONOLOGY
NOTES ON ENTRIES
Communications are to the Banks/intermediaries, unless otherwise specified.
Activities received as applying pressure are as perceived by the communicator.
2024
February 22, 2024 COMMUNICATION
Problem identified to the Banks.
February 23, 2024
Minister of Finance appoints Interim FCAC Commissioner. Source
BANKS RELEASE QUARTERLY REPORTS FOR Q1 24
February 27-29, 2024. Not Addressed.
BLANK
Commencing circa march 15, 2024
Activities received as applying pressure.
MAY 6, 2024 COMMUNICATION
Further clarification of the problem. Mechanisms suggested to sort it out.
BANKS RELEASE QUARTERLY REPORTS FOR Q2 24
May 23-30, 2024. Not Addressed.
BLANK
INTERIM EVENTS
Activities received as applying pressure continue.
July 9, 2024 COMMUNICATION
Further suggestions to sort out the problem.
INTERIM EVENTS
Activities received as applying pressure continue.
BANKS RELEASE QUARTERLY REPORTS FOR Q3 24
August 22-29, 2024. Not Addressed.
BLANK
INTERIM EVENTS
Activities received as applying pressure continue.
DECEMBER 1, 2024 COMMUNICATION
Further suggestions to sort out the problem. Objections to activities received as applying pressure.
BANKS RELEASE QUARTERLY REPORTS FOR Q4 24
December 3-5, 2024. Not Addressed.
BLANK
2025
INTERIM EVENTS
Activites received as applying pressure continue.
JANUARY 15, 2025 COMMUNICATION
Renewed suggestions to sort out the problem.
INTERIM EVENTS
Activites received as applying pressure continue.
BANKS RELEASE QUARTERLY REPORTS FOR Q1 25
February 25-27, 2025. Not Addressed.
BLANK
INTERIM EVENTS
Activities received as applying pressure continue.
BANKS RELEASE QUARTERLY REPORTS FOR Q2 25
May 22-29, 2025. Not Addressed.
BLANK
INTERIM EVENTS
Activities received as applying pressure continue.
JULY 24, 2025 COMMUNICATION
Additional suggestions to remove obstacles.
INTERIM EVENTS
Activities received as applying pressure continue.
BANKS RELEASE QUARTERLY REPORTS FOR Q3 25
August 26-28, 2025. Not Addressed.
BLANK
INTERIM EVENTS
Activities received as applying pressure continue.
NOVEMBER 16, 2025 COMMUNICATION
Additional suggestions to remove obstacles.
INTERIM EVENTS
Activities received as applying pressure continue.
BANKS RELEASE QUARTERLY REPORTS FOR Q4 25
December 2-4, 2025. Not Addressed.
BLANK
2026
INTERIM EVENTS
Activites received as applying pressure continue.
FEBRUARY 10, 2026 COMMUNICATION
Further request to sort out the problem and remove obstacles to conclusion.
INTERIM EVENTS
Activites received as applying pressure continue.
BANKS RELEASE QUARTERLY REPORTS FOR Q1 26
February 24-26, 2026. Not Addressed.
BLANK
INTERIM EVENTS
Activities received as applying pressure continue.
MARCH 4, 17, 19, 2026 COMMUNICATIONS
Further objections to continuing activities.
April 27, 2026 COMMUNICATION
Summary of problem and suggested mechanisms to sort it out and remove obtacles.
MAY 19, 2026 COMMUNICATION TO THE BOARDS OF EACH BANK
Identification of potential problem not addressed in QRs.
INTERIM EVENTS
Activities received as applying pressure continue.
BANKS RELEASE QUARTERLY REPORTS FOR Q2 26
May 27-28, 2026. Not Addressed.
BLANK
INTERIM EVENTS
Activities received as applying pressure continue.
JUNE 15, 2026
Response received from Chair of Scotiabank Board.
INTERIM EVENTS
Activities received as applying pressure continue.
BANKS RELEASE QUARTERLY REPORTS FOR Q3 26
August 25-27, 2026. Not Addressed.
BLANK
INTERIM EVENTS
Activities received as applying pressure continue.