Recommendation 1 Recommendation 2 Recommendation 3 Recommendation 4

Recommendation 5 Recommendation 6 Recommendation 7 Recommendation 8

Market selection

Recommendation 7

Investor compliance with the laws and regulations in the home countries of their investments should be part of their regulators' due diligence process. They, in turn, should be treated equitably in the home country of their investments especially in respect to their rights to shareholder benefits and concessionary arrangements under double tax agreements.

1.	Do domestic regulators monitor the procedures in place at their locally based cross-border custodians to assure compliance with the laws and regulations of the home countries of their investments?	We understand that cross-border custodians are subject to regulatory oversight not only from the domestic local regulator but also from the home country regulator of the investors of which they hold the securities under custody.
2.	What are the areas (e.g. benefits, investor compensation) where foreign investors are not treated in the same way as local investors?	In case of double taxation treaties in favour of local investors.
3.	Can sales proceeds and income be repatriated without any restrictions?	There are no restrictions on the repatriation of sales proceeds and income, other than those which may be foreseen by locally applicable tax law.
4.	Are double tax agreements simple to apply, and do foreign investors receive promptly their full entitlement to dividends and interest payments?	The answer varies from country to country. Also the applicable tax system may vary from a relatively simple one to a more complicated and sophisticated one.