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What’s New

Feb
07
2017
Rob Carrick writes about how securities regulators must be cautious in how they regulate so that the robo-advisor and on-line investing models are not stifled. He is of the view that the investment industry needs to improve its approach to assessing the risk profile of investors and that guidance to investors on discount brokerages should […]
Feb
06
2017
The SEC has issued an Investor Bulletin advising investors that they should be aware that alternative mutual funds hold non-traditional investments or use complex investment or trading strategies. The SEC warns investors of their unique characteristics and risks. It also compares these funds to hedge funds in the Bulletin. Finally, it notes that investors should keep […]
Feb
06
2017
The U.S. based Investor Stewardship Group has issued a framework consisting of corporate governance and stewardship principles. The Group – which includes BlackRock Inc., the Vanguard Group, T.Rowe Price Group Ince, RBC’s Asset Management division and MFS Investment Management – released the principles for institutional investors on January 31, 2017. While the corporate governance principles […]
Jan
25
2017
FAIR Canada provided comments on the proposed amendments to MFDA Rule 1.2.5 (Misleading Business Titles Prohibited). The MFDA’s minimum proficiency requirements for Approved Persons seeking to use the title “financial planner” is a positive step in furtherance of investor protection, however, on its own, is not enough. FAIR Canada strongly believes that what is urgently […]
Jan
17
2017
A notice citing concerns with the way exempt-rights offerings are structured was issued by five provincial securities commissions. The securities commission of Ontario, Quebec, Alberta, Manitoba and Saskatchewan say they are concerned that some issues may be abusing shareholders in the way that certain rights offerings are structured, noting that the ability to provide “stand-by […]
Jan
17
2017
Dan Hallett of the Globe and Mail writes about how the risk rating section of the ETF and mutual fund facts document is flawed as it doesn’t convey how much investors can lose.
Jan
12
2017
Marian Passmore, FAIR Canada’s Director of Policy and COO, sat down with Amanda Lang on Bloomberg North to discuss banning embedded investment fund fees, a proposal which the CSA just released. FAIR Canada has advocated for the removal of embedded fees since the CSA began its consultation 2012, and maintains that removing embedded fees is […]
Jan
12
2017
FAIR Canada is opposed to regulatory changes which grant retail investors easy access to alternative funds which are traditionally complex, illiquid and higher risk. In the absence of a best interest standard, which would ensure that such funds could only be sold to investors if that sale was in the investor’s best interest, FAIR Canada […]
Jan
12
2017
Armina Ligaya reports in the Financial Post on the CSA’s “final consultation” to examine the impact of embedded fees. Ligaya  discussed the consultation with Marian Passmore, FAIR Canada’s Director of Policy and COO.  Passmore said there is an “…abundance of evidence that real harm is being caused to investors and market efficiency [because of embedded […]
Dec
21
2016
FAIR Canada calls on IIROC to work with other securities regulators expeditiously to prohibit discount brokerages (also known as order execution only (or “OEO”) platforms from selling products with embedded trailing commissions before expending resources on regulating the tools that OEO firms provide. In order to regulate OEO firms, IIROC has revised the definition of […]