Canada To Allow Wealth Funds To Invest In Its Financial Institutions - WSJ.com
OTTAWA (Dow Jones)--The Canadian government said Thursday it plans to introduce legislation to allow foreign and domestic sovereign-wealth funds to invest in Canadian financial institutions, a move which would allow banks and insurance companies to raise capital to meet new Basel banking rules.
Canada is believed to be the only G-7 country that explicitly bars sovereign-wealth funds from investing in its financial institutions, which puts lenders and insurers at a disadvantage when it comes to raising capital. The proposed legislation aims to level the playing field, and could attract investments ...
Seethe whole story here, subscription required: UPDATE: Canada To Allow Wealth Funds To Invest In Its Financial Institutions - WSJ.com
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