Funding and Financial Statements
FAIR Canada was officially launched in June 2008. It operates independently from government and regulatory authorities and is governed by its Board of Directors.
In the summer of 2012, FAIR Canada received funding from the Ontario Securities Commission (the OSC) and the Investment Industry Regulatory Organization of Canada (IIROC). The OSC committed to funding FAIR Canada in the amount of $500,000 per year for a two-year period. IIROC agreed to contribute $350,000 per year over two years. The funds came from money collected by the regulators from monetary sanctions and settlements.
FAIR Canada’s initial funding originated from fines and monetary penalties collected by RS and the IDA which merged to form the IIROC in June 2008. At the time, they committed to a grant of $3.75 million, which was expected to fund FAIR Canada for a three-year period.
FAIR Canada’s fiscal year runs from July 1 to June 30.
FAIR Canada Audited Financial Statements