The mission of FAIR Canada is to be a catalyst for enhancing the rights of Canadian shareholders and individual investors including being a national voice for investors in securities regulation.
Strategic Priorities 2020 to 2022
1. Respond to requests for comments from Securities Regulators, Self-Regulatory Organizationsand Governments
FAIR Canada’s core activity and top priority is to advise Canadian securities regulators, self-regulatory organizations and governments on policy issues relating to Canadian shareholders and individual investors. FAIR Canada’s recommendations will focus on providing an investor perspective in policy development, consistent with FAIR Canada’s role as a national voice for investors in securities regulation. FAIR Canada has identified the following initiatives of securities regulators and governments for strategic focus:
- CSA Review Regulatory Framework for Self-Regulatory Organizations
- Ontario government Capital Markets Modernization Taskforce review of securities regulatory framework
- Client Focussed Reforms to better align the interests of investors and the interests of investment advisors and dealers
- Regulatory Burden Reduction initiatives and Better Regulation
- Cooperative Capital Markets Regulatory system deficiencies and retention of current regulatory rules and amendments required to address investor protection
- Reform of embedded commissions in mutual funds and similar products including segregated funds
2. Strategic Activism
FAIR Canada will continue to identify issues that pose significant harm to investors and where opportunities exist to meaningfully enhance investor protection to focus our efforts and engage in strategic activism campaigns to advocate. We have identified the following the following issues for current strategic focus:
- Access to justice for investors ~ compensation through enforcement proceedings, binding authority for OBSI compensation awards, and investor protection legal aid clinics at Canadian universities
- Timely insider trade reporting and enhanced restrictions for regulatory exemptions for automatic share disposition plans
- Inappropriate advice to investors to borrow to invest in mutual funds and similar high-fee products such as segregated funds and structured products
- Ending the practise of registrants using client account agreements that improperly limit liability for suitability rule and outsourcing rule violations
- Identify emerging investment fraud risks and raise awareness to address risks to investors
- Mis-selling of group scholarship plans and syndicated mortgages
3. Investor Engagement
FAIR Canada plans to form an Investor Advisory Council to better engage the investor community by providing a forum for engaging in a dialogue and explore ways to gather intelligence with representatives of investor and consumer advocacy organizations.
4. Public Awareness
FAIR Canada will broaden public awareness of its work through use of plain language communications and participation in investor advocacy community and media engagement activities.