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FAIR Canada and the CCEL issue Joint Report on Vulnerable Investors

FAIR Canada and the Canadian Centre for Elder Law released their Joint Report on Vulnerable Investors: Elder Abuse, Financial Exploitation, Undue Influence and Diminished Mental Capacity. The report contains six recommendations to securities regulators designed to help the investment industry play a critical role in abuse prevention and addressing diminished mental capacity. We call on securities regulators, and the investment industry to really engage on these issues. Older Canadians, advocates and the investment industry have told us they all support having a conduct protocol in place which balances investors right to make their own choices, with the reality that investment firms are in a unique position to prevent or stop financial exploitation of vulnerable investors or respond to help those who show signs of diminished mental capacity. We know that regulators, governments, industry and investor and community organizations want to address this issue and we hope that this report begins a process which leads to concrete steps that will improve outcomes for those who are in vulnerable positions today or may become vulnerable tomorrow.

November 21, 2017