Financial scandals such as Sino-Forest, YBM Magnex and others will continue to occur in Canada. Lessons were not learned from the YBM Magnex fraud and TSX China listings fiascos of the 1990s. Lessons that are not learned are invariably repeated. The TSX and TSX-V continued to promote emerging market listings throughout the past decade without proper consideration of the risks to Canadian investors and market integrity…

Recent Canadian Securities Administrators (“CSA”) and Ontario Securities Commission (“OSC”) Notices indicate that securities regulators in some jurisdictions, including Ontario, are considering expanding the type of prospectus exemptions they will offer while, at the same time, reviewing the accredited investor (“AI”) and minimum amount (“MA”) exemptions. The OSC is considering the offering memorandum exemption…

Stephen Jarislowsky, FAIR Canada Director and Chairman of Jarislowsky Fraser Ltd., together with FAIR Canada Executive Director Ermanno Pascutto, spoke to BNN on June 11 about executive compensation. Mr. Jarislowsky noted during the interview that executive compensation has gone out of sight and has not contributed to improved performance. He believes that executive compensation has worsened over the last ten years…

FAIR Canada has made a submission on the Ontario Securities Commission’s (“OSC”) Proposed Recognition Order for Maple, TMX Group and the TSX and a submission on the BCSC’s Draft Recognition Order Conditions for the TSX Venture Exchange (together the “Proposed Recognition Orders”). FAIR Canada does not believe that the Proposed Recognition Orders put into place sufficient measures to deal with the conflict of interest between the listing regulation responsibilities and listing business operations of the TSX and TSX-V…

In its submission to FSCO on its Draft Statement of Priorities and Strategic Directions, FAIR Canada recommends that FSCO adopt a number of reforms to benefit financial consumers. FSCO’s initiatives include conducting life insurance product suitability reviews, working with the Ministry of Finance to review major parts of the Insurance Act and examining CCIR’s recommendations to reflect changes in distribution channels. FAIR Canada recommends that FSCO add as initiatives…

FAIR Canada is pleased that OBSI is moving forward with the implementation of the strategic recommendations set out in the Khoury Report (the independent review conducted by the Navigator Company in 2011). FAIR Canada supports the proposed reform to a unitary board where all directors are involved in all Board decisions…