FAIR Canada welcomes today’s announcement by the Ontario Securities Commission (the OSC) of its decision to create an Investor Advisory Panel (the Panel), particularly the details regarding the panel’s make-up, as well as the expected timeline for its creation. As noted in FAIR Canada’s recent comment letter to the OSC on its draft Statement of Priorities, we encourage the OSC to consider the following recommendations in creating the Panel:
- payment of members, which could be modeled on a combination of the UK Financial Services Consumer Panel and OSC Commissioner payment systems,
- articulation of a specific, written mandate that is made public,
- transparency of the selection process for Panel members,
- assignment of a specific staff person to assist the Panel with logistical matters, and
- transparency of the Panel’s work, including recommendations made about OSC initiatives, and responses to those recommendations.
FAIR Canada looks forward to continuing to work with the OSC and other investor advocates on strengthening the investor voice in Ontario.
Click here to read the Investment Executive article reporting on the OSC announcement.
