FAIR Canada supports the decision of the Investment Industry Regulatory Organization of Canada (IIROC) announced last week that, following consultations undertaken last year, it is increasing the award limit under its arbitration program to $500,000. IIROC is also amending the program’s rules of procedures to allow investors to opt to eliminate an arbitrator’s discretion to award costs against a party. For years, arbitration was not a practical option for investors given the low award limit. These changes should make arbitration a viable option for investors in some cases.
To see the full IIROC announcement, click here.
