Signed June 2010. It is believed this TIEA instrument serves at least two purposes. One is to curtail money laundering. Another is understood to require or authorize Bermuda to routinely feed info to Canadian tax authorities about bank and other accounts held in Bermuda by Canadians. A third may require Bermuda to also release info about Canadians living and/or working in or dealing with Bermuda. Many other countries specifically including the USA and UK, have similar TIEAs with Bermuda and operate under the same basic and/or more complex provisions.