Trade Talk - Summer 2011
Table of Contents
In this issue...
A message from our CEO: community focus - doing well by doing right
The summer is a good time to take stock of a company’s role in its community. We view client service and community-building as two sides of the same coin: firms do well by doing right.
Creating clarity from uncertainty: CIBC Mellon’s preparations for U.S. debt impacts
At CIBC Mellon, our commitment to serving our clients informs everything we do, each and every day. Our approach to issues management is one example of this, as delivering best-case results means preparing for worst-case scenarios.
Securities lending market update
For the past two years lending markets have been quiet; depressed stock prices and a hangover from the 2008 financial crisis have reduced dividends and most market movement. As we have now begun to move past the recessionary effects of 08/09 and companies are once again focused on growth and acquisitions, both lending balances and revenues have trended upwards in 2011.
New documentation requirements for non-Canadian-resident investors
The Canada Revenue Agency has announced stricter requirements in the amount and type of information non-Canadian-resident investors must provide in order to continue to receive Canadian-source income at tax treaty rates. Effective January 1, 2012, non-Canadian-resident investors will be required to certify beneficial ownership, residency and eligibility for tax treaty benefits or tax will be withheld at the maximum withholding rate of 25 per cent.
Exchange-traded funds - CIBC Mellon at the forefront with expanded ETF industry services
The exchange-traded funds (ETF) industry has seen exponential growth in recent years, not only globally but particularly within Canada. By partnering with CIBC Mellon, ETF providers in Canada can tap into a unique combination of local market expertise and access to cutting-edge global ETF-servicing capabilities.
CIBC Mellon to launch new Workbench Mobile for iPad®
This issue by:
Ronald C. Landry
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Trade Talk® is provided for general information purposes only and CIBC Mellon Global Securities Services Company, CIBC Mellon Trust Company, CIBC, The Bank of New York Mellon Corporation and their affiliates make no representations or warranties as to its accuracy or completeness. Readers should be aware the content of this publication should not be regarded as legal, tax, accounting, investment, financial or other professional advice nor is it intended for such use.