FAIR Canada is pleased to announce the appointment of Stan Buell to the FAIR Canada Board of Directors. Stan is President of the Small Investor Protection Association, a national non-profit organization with over 600 members in ten provinces across Canada. He is a member of the Box Grove Community Association Board and currently serves as Secretary. In 2010,

FAIR Canada, the Hennick Centre for Business and Law, and the Toronto CFA Society convened an Expert Roundtable, bringing together investor advocates, industry participants and regulators to examine the need for, and implications of, introducing a requirement for financial firms and financial advisors to put clients’ best interests first.

FAIR Canada today issued a report entitled “A Decade of Financial Scandals”, calling for government and regulatory action to improve prevention, detection and prosecution of financial fraud and to better compensate victims of investment frauds. “The Canadian regulatory system is complex and fragmented. There are thirteen provincial…

In February 2010, The Canadian Task Force on Financial Literacy released a consultation document describing issues related to financial literacy in Canada and asking the public to respond to specific questions. Topics included understanding financial behaviour, saving and investing, planning for retirement, and protecting against financial fraud.

FAIR Canada recently submitted a comment letter to IIROC, supporting its initiative to be clearer about the meaning of “suitability” obligations. In its submission, FAIR Canada noted that the suitability rules, as proposed by IIROC, although moving in a positive direction, need further clarification and do not provide sufficiently clear guidance to registrants or individual investors about suitability.