Top News

Aug 31 2015

OBSI’s new chief must transform the end game

It’s been a rough few years for Canada’s Ombudsman for Banking Services and Investments (OBSI). First, two of the country’s largest banks began boycotting OBSI’s dispute-resolution process. Then, some banks tried to pull their brokerage subsidiaries out, too. In the confrontation that followed, OBSI’s mandate got trimmed back. It lost […]

Aug 21 2015

Amanda Lang and Neil Gross Discuss Fees

Amanda Lang discusses with Neil Gross, Executive Director of FAIR Canada, the high fees that Canadians pay for their mutual funds, the possible reasons why Canadians pay some of the highest fees in the developed world and to what extent CRM2 will have an impact, when investment dealers are required […]

Aug 14 2015

Save the Date for FAIR Canada/Osgoode Hall Law School (Poonam Puri) Investor Recovery Conference

Public and private securities enforcement: Improving recovery for harmed investors October 26, 2015 | 8:00 am to 4:00 pm Osgoode Professional Development | 1 Dundas Street West, 26th floor, Toronto, ON Registration opening soon. Agenda and topics details TBA.  

Aug 04 2015

Take More and Broader Collective Action, Regardless of Constitutional Leanings

Canada has an abundance of agencies responsible for regulating investments. Those agencies co-operate extensively. They work together all the time. Even so, there are important areas in which they don’t co-ordinate as well as they could. For example, they don’t act in concert to rid the markets of bad people. […]

Jul 09 2015

NSSC Should Ensure Adequate Investor Protection, Incorporate Best Interest Duty in its Proposed Offering Memorandum Prospectus Exemption

FAIR Canada recently provided comments to the Nova Scotia Securities Commission (“NSSC”) about proposed amendments to National Instrument 45-106 Prospectus Exemptions regarding the offering memorandum prospectus exemption (the “OM Exemption”). Under the NSSC’s proposed OM Exemption, “eligible investors” would be permitted to invest up to $100,000 provided they first receive suitability […]

Jul 06 2015

What Choice Do We Have When Choice Itself is Engineered?

In magic it’s called “forcing” a card. The magician fans out a shuffled deck and asks an audience volunteer to pull out any card. Invariably, the one picked is a card that the magician has poked forward ever so slightly and has deftly maneuvered so that the volunteer’s fingers alight […]

Jul 03 2015

FAIR Canada Comments on CSA’s Proposed Take-Over Bid Rules

At the end of June, FAIR Canada provided comments to the Canadian Securities Administrators (the “CSA”) regarding proposed amendments to Multilateral Instrument 62-104 Take-Over Bids and Issuer Bids (“MI 62-104”) and changes to National Policy 62-203 Take-Over Bids and Issuer Bids (“NP 62-203”) (collectively, the “Proposed Bid Amendments”). Under the […]

Jun 22 2015

CBC Discusses the Mutual Fund Fee Report

Neil Gross, FAIR Canada’s executive director, recently appeared on The Exchange with Amanda Lang to discuss the need for mutual fund fee reform and the release of a much anticipated research report on this subject by Brondesbury Group. The research was commissioned by the Canadian Securities Administrators, an umbrella organization of provincial and […]

Jun 15 2015

FAIR Canada Comments on Proposed Exemption For Certain Distributions Through an Investment Dealer

FAIR Canada provided comments to the securities commissions in British Columbia, New Brunswick and Saskatchewan (the “Participating Jurisdictions”) on the proposed prospectus exemptions that would allow issuers listed on a Canadian exchange to raise money by distributing securities to investors who have obtained advice about the suitability of the investment […]

Jun 10 2015

Comments at the Whistleblower Roundtable on Financial Compensation

The Ontario Securities Commission’s Whistleblower Roundtable held on June 9th elicited much comment on the proposed program’s financial incentives. FAIR Canada and several other panelists recommended that the proposal be amended to: Lower the threshold for payment of an award below the $1-million fine level as fewer cases on Canada […]

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