On September 19, 2011 FAIR Canada’s Executive Director, Ermanno Pascutto appeared on BNN’s Headline with Howard Green to discuss investor protection and analyst accountability. Ermanno called for regulators to oversee the release of “analyst” reports by unlicensed “analysts” and regulations to prevent selective disclosure of price sensitive reports to short sellers prior to public release. There is a need for regulatory oversight of unlicensed analysts in order to protect retail investors and prevent market manipulation.
FAIR Canada also calls for a task force to examine emerging market listings in Canada. It is FAIR Canada’s view that Canada is attracting some of the highest risk emerging market listings including companies that other exchanges with greater expertise have refused to list. The track record clearly shows that the Canadian financial services industry does not have the expertise to do proper due diligence and regulators are unable to effectively regulate, investigate or prosecute.
