Canada – CM PB

2025, Cross-border, Update

Country Manual Private Banking

Canada

BRP SA - Canada CM PB
BRP SA – Canada CM PB

BRP has updated its Country Manual Private Banking for Canada out of Bank’s Country of Establishment (DEF, RS, BT & RT)

Source of changesAnswers
Law / RegulationNo
New Position of the AuthoritiesNo
Evolution of Expert’s InterpretationYes

Regulatory Template, Regulatory Summary and Behaviour Template

Material changes

The Country Manual has been reviewed to ensure that the content of all documents remain accurate and in line with the evolving interpretation of the current legal and regulatory framework. We can confirm that there have been no relevant legal or regulatory changes since the last publication of this Country Manual. However, based on consultations with our counsel in Canada, it seems preferable for any referral activity by local third parties to be made only upon a prospect’s request.

Non-material changes

Some content has been reworded and regulatory references updated due to the publication of new amendments to laws, without introducing any material changes.

Regulatory Summary

This document has now a more user-friendly layout and reflects the changes contained in the RT.

BT Short Comparison

BRP has created a comparison document allowing users to quickly identify the modifications made compared to the previous version of the PB Manual (BT Short Comparison). The BT Short Comparison can be found on BRP’s platform (mybrponline) in the Search tab by entering in the Document Field “CM PB BT SHORT COMP” and “CANADA” in the Target Country Field.

The BT Short Comparison should be read as follows:

The first column contains a short description of the activity in question. The second column contains the answers of the previous version of the Country Manual (online until the day of the alert). The third column contains the new answers of the most recent version of the Country Manual. Only the modified answers are displayed (in color). If the answers in the new version are unchanged compared to the previous version, they are shaded in grey.

For more information, please contact us: info@brpsa.com

Geneva, January 20th, 2025