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.
A BIC is an acronym, which stands for Bank Identifier Code. It can be used to identify your bank, when receiving payments. You may already quote your BIC on your invoices or payments to your account. The BIC can be either 8 or 11 digits in length, and the Royal Bank of Scotland BICs are shown below as examples: