33100500_1 4 Belgium v Spain (Barcelona Traction) ICJ 1970 Belgian shareholders in Canadian company with investment in Spain. After Spanish courts/ authorities seized assets, Belgium sought to assert right to espouse diplomatic protection on behalf of shareholders.
Understanding the Best Interest Contract (BIC) Exemption Initially a more controversial part of the initial DOL proposal, the final rule includes a Best Interest Contract exemption that allows a financial institution to receive variable compensation.
1 Public Compliance Communication No. 24 (PCC24): The Financial Intelligence Centre Act requires that accountable institutions verify the registration details of a company or close corporation prior to doing business with them. Cross Border Remittance Exemption-The Minister of Finance has approved an exemption for cross border remittances. 2  The exemption is intended to reduce the regulatory obligations for financial institutions providing cross-border remittance services.