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Wealth Professional | 28 Apr 2016, 09:00 AM Agree 0
Strict approach makes it harder than ever for Canadians to live and invest in the USA
  • Russ | 28 Apr 2016, 07:00 PM Agree 0
    I really don't understand why Scottrade (the firm mentioned in the Financial Post article) would close down accounts owned by Canadian citizens who are permanent residents of the US. My understanding of the regulations is that residency is the determining factor. A Canadian who moves to the US as a permanent resident can no longer actively own investment accounts in Canada. He or she may only open accounts with US-domiciled firms. I suspect that this is the consequence of an overzealous and undereducated compliance department.
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