On July 25, FAIR Canada submitted a comment letter on the CSA’s Phase 2 proposals for its investment funds modernization project. In the letter, we stress the need for more fundamental changes to investment fund regulation, including the introduction of a requirement for industry participants to put the best interests of the client first, in order to protection investors. FAIR Canada emphasizes that, while disclosure is important, disclosure alone is insufficient for adequate investor protection. We also make other specific recommendations with respect to the regulatory regime for closed-end and non-redeemable funds, the need for greater regulatory oversight in securities regulation, and responses to specific questions asked in the consultation paper.
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Dialogue
Time for Action on Emerging Market Issuers
In “Unprotective custody”, Theresa Tedesco of the National Post argues that regulators need to take concrete action with specific deadlines on the many problems that have come to light with emerging market issuers. We agree!
Inaugural Event in Memory of Whipple Steinkrauss
Whipple Steinkrauss was a FAIR Canada director from June 2008 until her untimely death in January 2009. During this brief period, Ms. Steinkraus made an enormous contribution mentoring Ermanno Pascutto and ensuring that our focus would be on retail investors and the “financial advisor” relationship…
Compliance Review Results are “Dismal”
Firms registered with provincial securities commissions are not complying with their existing obligations to determine who qualifies as an accredited investor…
SmartSAVER – Helpful RESP Guidance for Canadians
FAIR Canada encourages Canadians to check out www.smartsaver.org for useful tips and information about how to start a Registered Education Savings Plan (RESP)…
Why Investment Fees Matter
Watch this video by Jonathan Chevreau who explains why fees matter so much to investors. He explains a simple calculation that shows how long it will take for the MER to consume one third of your investment.
OSC Priorities for 2012
In a recent Globe and Mail article, Boyd Erman praises OSC Chair Howard Wetston on his achievements during his first year and outlines a “to-do” list for the remainder of Mr. Wetston’s term…