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What’s New

Nov
09
2018
With today’s Supreme Court’s decision confirming the constitutionality of the CCMR, FAIR Canada repeats its investor-related concerns about the proposed CCMR and renews its call for stronger investor protection measures to be included in the governance structure and substance of the CCMR.
Nov
01
2018
Toronto – November 1, 2018 – Today, Scotiabank is hiring a private, for-profit company – ADR Chambers Banking Ombuds Office (ADRBO) – to assess consumers’ banking complaints. In pursuing this consumer unfriendly decision, Scotiabank becomes the fourth major Canadian bank to take this course of action. Scotiabank follows RBC, TD Canada Trust and National Bank […]
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 […]