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What’s New

Aug
18
2017
Jade Hameon of the Investment Executive reports on the Ontario Securities Commission’s announcement of the agenda and panelists for a roundtable scheduled for September 18, 2017 to discuss the topic of discontinuing embedded commissions. Marian Passmore, Director of Policy and COO of FAIR Canada has been announced as a panelist to discuss discontinuing, or implementing […]
Aug
03
2017
FAIR Canada has submitted comments with respect to CSA Consultation Paper 51-404 Considerations for Reducing Regulatory Burden for Non-Investment Fund Reporting Issuers. FAIR Canada believes that reducing regulatory burden may not be in investor interests. Before regulators move forward with any reforms, they must demonstrate with empirical evidence that further steps to reduce regulatory burden […]
Aug
03
2017
FAIR Canada submitted comments to the Canadian Securities Administrators in support of its proposal to prohibit the advertising, offering, selling or otherwise trading of binary options. FAIR Canada reiterated in its comments that binary options are harmful for investors by their very design and not just in cases of fraud. FAIR Canada would also like […]
Jul
20
2017
Leo Almazora of Wealth Professional reports on a letter written by Ken Kivenko of Kenmar Associates to the Canadian Securities Administrators on internal ombudsmen at the banks, particularly their level of independence and transparency. The letter in particular takes issue with the “two-step” process for launching complaints (through an internal ombudsman and OBSI) and asks […]
Jul
20
2017
Anita Anand, Andrew Green and Matthew Alexander write in the Globe and Mail about the recent no-contest settlements by the Ontario Securities Commission and whether these are in the public interest: (i) given the lack of transparency over the facts; (ii) the impact on the law’s development and (iii) possible perverse incentives that no-contest settlements may create.
Jul
04
2017
The Ontario Securities Commission has published the final version of its Statement of Priorities for 2017-2018. FAIR Canada is pleased to see the OSC’s continued commitment to investor protection issues in the Notice to the Statement of Priorities, including (i) work to define and  introduce a regulatory best interest standard in Ontario, (ii) addressing advisor titles and […]
Jun
19
2017
FAIR Canada has submitted a brief to the Parliamentary Standing Committee on Finance regarding consumer protection and oversight in Relation to Schedule I Banks. FAIR Canada has been following the CBC Go Public investigation of improper sales practices at Canada’s banks, and like many, is concerned with the allegations made by former bank employees. FAIR […]
Jun
16
2017
FAIR Canada has commented on CSA Consultation Paper – 81-408 regarding the elimination of embedded commissions. At issue is whether investment funds such as mutual funds should continue to be allowed to be sold that include third party payments from the fund manufacturer to the dealer – payments such as trailing commissions and deferred sales […]
Jun
14
2017
Michelle Singletary of the Deseret News reports how consumers will get some common-sense protection from conflicts of interest when getting advice on their retirement accounts. Barb Roper, consumer advocate at the Consumer Federation of America, explains what the rule means for financial consumers.
Jun
05
2017
Canada is in the midst of a huge demographic shift. By 2024, people aged 65 and over will account for 20 percent of the country’s population. This has significant policy implications, from infrastructure needs to health care and community services. People don’t often think about the investment industry as being impacted, but the reality is […]