RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:Nope to US individuals in GB Royalty Rights IssueWhy a law suit, isn't this a US regulatory issue. I don't think Canadians care if US citizens buy our securities or Brits or Russians for that matter, I believe it's your Gov. that's making it difficult.
They hate money out flow, in flow is good, out flow is bad.
Canadian brokers were able to do business with US clients for years until US regulators and the tax man realized that Canadian institutions weren't ratting out it's US clients to the US Tax man. We use an honour system here, you make money it's your responsibilty to the Gov. to report that on your tax return. The US doesn't like the honour system and wanted Canadian brokers to tell them what our US clients were doing.
Home of the Free ....Not so much !
The Canadians didn't want to rat out it's client base so to stop the money flowing out the US regulators made it mandatory that a Canadian broker had to be licensed in the State where a client resided which as you can imagine killed that cross border business. You have 100 clients residing in 20 differant States, that's a problem.
Would Canadian regulators care if I opened an account with a US Broker ? I don't think so !
So much for Free Trade !
Bit of trivia for you but before you sue GBR because you can't buy some stock privately maybe check out who exactly is preventing you from buying it.
And maybe you can always buy it out of the market later !
fredo1 wrote: Some estimate that up to 25% of shares are held by US investors. Without a lawsuit, I am afraid we are reduced to shaking our fists at Chris whenever he appears in public. I and several friends have expressed our outrage via email. So far, no response.