1. Providing the Investor Perspective to Securities Regulators and Governments
FAIR Canada will submit comments on requests for comment issued by Canadian securities regulators (including SROs) and governments that materially relate to our strategic priorities. These comments will focus on providing the investor perspective on policy development.
2. Client-Advisor Relationship
FAIR Canada will continue to call for reform of the client-financial advisor relationship to encourage a better alignment of the interests of retail investors and financial advisors and improve outcomes for the investing public, and will advocate for the adoption of a requirement that registrants have a duty to act in the client’s best interests.
3. Complex, High-Fee, and High-Risk Investments
FAIR Canada will investigate and analyze the impact of complex and high-fee investments on investors, promote greater transparency surrounding fees, and call for a ban on compensation that leads to poor advice (including trailer commissions), as well as more substantive regulation of investments that often lead to poor consumer outcomes (such as group scholarship plans).
4. Financial Fraud and Other Misconduct
FAIR Canada will promote the recommendations made in its recent report, A Canadian Strategy to Combat Investment Fraud, with a view to better protecting the investing public from investment fraud.
5. Maintain and Enhance Relationships and Secure Long-Term Funding
FAIR Canada will execute the FAIR Canada Sustainable Funding Campaign.
FAIR Canada will also maintain and enhance relationships with securities regulators, including provincial commissions, SROs, governments, consumer organizations, investor advocates, the media and other organizations.
6. Maintain Capacity on Emerging Issues
FAIR Canada will monitor emerging trends and issues in securities regulation and take action where warranted in the interest of the investing public. Several recent examples of emerging issues where FAIR Canada has been at the forefront are equity crowdfunding, lack of oversight and widespread non-compliance leading to investor harm in the exempt market, expansion of the exempt market, consumer complaints, consumer redress, financial planning, and leveraged investing in mutual funds and similar products.