Howard Wetston, the new Chairman of the OSC, gave his first television interview this week on BNN Headline.
Read more»Archive for Dec 24 2010
Dec 23 2010
Standing up for Canadian victims of white-collar crime
Experts call for national agency to detect and prosecute financial fraud. In supporting a national securities regulator, FAIR Canada noted the need for a specialized national agency…
Read more»Dec 22 2010
Ermanno Pascutto appears on BNN SqueezePlay
Defective M&A timely disclosure rules result in widespread insider trading: 100% more insider trading than in the U.K.
Read more»Dec 17 2010
FAIR Canada calls for Reform of M&A Timely Disclosure Rules: Eliminate the Opportunity for Insider Trading
Timely disclosure is a cornerstone policy of securities regulation. It stands for the proposition that investors and shareholders in public companies are entitled to equal access to material information that may affect their investment decisions. Timely disclosure requirements in provincial securities laws were written with material changes in the business and affairs of a listed company in mind. The disclosure laws were not written with takeover and merger transactions in mind.
Read more»Dec 17 2010
National Securities Regulator: FAIR Canada files Affidavit as Intervenor
FAIR Canada filed its affidavit with the Supreme Court of Canada (the SCC), in connection with the April 2010 reference being heard by the SCC. The affidavit affirmed FAIR Canada’s position that the current patchwork system of securities regulation does not adequately protect retail investors across Canada. Included among the problems identified were…
Read more»Dec 16 2010
OBSI Announces Launch of Consumer and Investor Advisory Council
On December 15, 2010, the Ombudsman for Banking Services and Investments (OBSI) announced the establishment of a 10 person consumer and investor advisory council including the Executive Director of FAIR Canada. For years, there has been an absence of retail investor involvement in securities regulation. From the outset, one of FAIR Canada’s priorities has been to address this gap. If regulators are committed to investor protection they must understand the challenges facing retail investors…
Read more»Dec 09 2010
Canadian Investment Guide 2011
While securities regulators in other jurisdictions are enacting significant reforms to reduce conflicts of interest between investors and providers of financial advice, no similar improvements are underway in Canada.
Read more»Dec 09 2010
Proposed Revisions to OBSI Terms of Reference
In response to a request for comments, FAIR Canada has provided comments on the Ombudsman for Banking Services and Investments’ (OBSI) proposed revisions to its Terms of Reference.
Read more»Dec 06 2010
Elizabeth Warren: Please Come to Canada
The US, UK, Australia, the EU and Hong Kong—virtually all developed countries—are undertaking major reforms to improve investor protection in securities regulation. Among other major changes, the US is in the process of creating a new agency called the Consumer Financial Protection Bureau. Elizabeth Warren has been tasked by President Obama with setting up the agency.
