Because the entity referred to in the response to Q-972 was involved in active projects in several countries, CIDA took the following specific measures to protect the interests of the Crown: CIDA established a multi-disciplinary task force to oversee a common, integrated and corporate approach to managing the situation and mitigating potential risks; discussions and meetings were held with senior representatives of the organization, who provided detailed information on the extent and severity of the financial situation, and the likely operational impacts; based on the initial information received, as well as a review of the current status of project implementation, management arrangements and contractual terms and conditions, CIDA complet ...[+++]ed an internal review and assessment of the fiduciary and other risks across each program; a proactive monitoring and integrated risk management approach was developed and agreed with the organization, which featured open and direct channels of communication at a senior level to provide regular updates on the financial situation and recovery as well as to facilitate the dissemination of information on operational progress across the agency and decision-making on individual projects; in projects where the organization was part of a consortium, the agency agreed, on a non-objection basis, to the transfer or assignment of the lead implementation role to other well-established members or partners, who were jointly and severally liable; for projects where the organization was solely responsible for delivery or implementation, the agency took steps to ensure that all financial and performance guarantees were enforceable, in case of need; as part of its efforts to continue operations and remain a going concern, the organization presented a comprehensive business plan and financial projections that were developed with legal and financial third party advisors, a plan was subsequently validated by independent auditors as part of the due ...

(j)provisions for the management of contributions from the Union and of fiduciary accounts, including counterparty risks, acceptable treasury operations, responsibilities of parties concerned, remedial actions in the event of excessive balances on fiduciary accounts, record keeping and reporting.

Member States may not refuse to supply information on a economic operator on the sole grounds that this information is held by a bank or other financial institution, by a nominee or a person acting as agent or fiduciary or because it relates to the ownership interests in a legal person.

Member States may not refuse to supply information on a economic operator on the sole grounds that this information is held by a bank or other financial institution, by a nominee or a person acting as agent or fiduciary or because it relates to the ownership interests in a legal person.

Member States may not refuse to supply information on a economic operator on the sole grounds that this information is held by a bank or other financial institution, by a nominee or a person acting as agent or fiduciary or because it relates to the ownership interests in a legal person.

The Canadian market is only 3 per cent of the capitalized markets of the world and we have a fiduciary and trustee requirement to produce returns, however we are limited to investing in a small part of the investible capital of the world.The foreign property content rule really skews our investment process away from the objectives that we have mandated by trust and fiduciary law and the statutory rules under which we operate and it does it for reasons that are totally unrelated to the issues of prudence or safety in pension management ...[+++].