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What’s New

Oct
19
2018
FAIR Canada commends the CSA for pursuing reforms to the client-registrant relationship with the goal to better align the interests of registrants and clients so that advice is not compromised by compensation related and other conflicts that result in the firm and their representatives placing their own interests above those of their clients, to improve […]
Oct
11
2018
Toronto – September 25, 2018 – CARP, the Consumers Council of Canada and FAIR Canada are calling on the Government of Canada to protect banking consumers by appointing a single, not-for-profit organization to act as the ombudsman for the retail banking sector across the country. CARP, the Consumers Council of Canada and FAIR Canada have […]
Sep
20
2018
Anna Irrera of the Globe and Mail reports that several cryptocurrency Exchanges are plagued by poor market surveillance, pervasive conflicts of interest and lack sufficient customer protection, according to a report issued by the New York Attorney General’s office. FAIR Canada believes that such exchanges operating in Canada should also be examined, if they have […]
Sep
13
2018
The Ontario Minister of Finance has today released a statement regarding proposed CSA amendments to Mutual Fund Sales at the same time as the CSA unveiled its proposals. The Ministry of Finance indicates that the government does not agree with the proposal as currently drafted. The government has indicated its willingness to work with stakeholders to […]
Sep
10
2018
FAIR Canada calls on the Government of Canada, as part of its comprehensive review of the consumer protection framework for banking consumers, to implement reforms to the Bank Act so that there is one, independent, national ombudservice for banking complaints and to designate the Ombudman for Banking Services and Investments (OBSI). The Bank Act currently […]
Aug
30
2018
FAIR Canada has written a  letter to the CSA regarding the proposed Client Focused Reforms seeking clarification so that we can better understand how firms must address in the best interest of a client conflicts of interest in four common scenarios: Embedded Commissions Only MFDA Dealer; Commuting the Value of a Pension; Leveraged Investing; and […]
Aug
24
2018
On August 15th, the securities commissions of British Columbia, Manitoba, Nunavut, the Northwest Territories, and Yukon announced that they will be revoking their registration exemption orders effective April 30, 2019. Alberta announced is consulting on revoking its local order and Saskatchewan’s securities commission is considering whether to also revoke the exemption. As a consequence of […]
Jul
26
2018
Frank Allen, Executive Director of FAIR Canada, said: “While FAIR Canada welcomes the CSA’s determination that it is appropriate to maintain the existing approach to determining director and audit committee member independence,  we are disappointed that the CSA choose not to extend these independence rules and principles, which benefit investors and our capital markets and […]
Jul
25
2018
FAIR Canada has provided comments in response to the MFDA’s consultation on proposed MFDA Sanction Guidelines. FAIR Canada believes the Sanction Guidelines should be drafted so as to inclusively apply to both Members and Individual registrants since misconduct can involve both dealer firms and individuals. As well FAIR Canada calls for the expectations of the […]
Jul
18
2018
FAIR Canada applauds the appointment of the Honourable Filomena Tassi as the new Minister for Seniors. FAIR Canada looks forward to collaborating with Minister Tassi on issues such as the prevention of investment fraud against seniors and other vulnerable Canadians, the prevention of elder abuse, undue influence and financial exploitation and putting in place appropriate […]