FAIR Canada continues to speak out about investment products that do not serve investors' interests. This past month we spoke out against the proposal to permit alternative investments to be sold to retail investors in the absence of a best interest duty and provided comments in support of regulators in their proposal to ban binary options.
In addition, we provided comments to securities regulators on the need for regulators to focus on improving the quality and accessibility of information to investors and cautioned against reducing regulatory burden in the absence of empirical support that it will be beneficial to the capital markets including investors, a key stakeholder in our capital markets.
FAIR Canada believes that providing the investor perspective to regulators and other capital market stakeholders is crucial when they consider ways to make capital markets more efficient and address issues related to fraud.
FAIR Canada has been busy as it conducts consultations on its vulnerable investor project in partnership with the Canadian Centre for Elder Law (funded by the Law Foundation of Ontario Access to Justice Fund). We are looking at developing a conduct protocol and practical mechanism for Canadian financial services firms and their investment representatives to take urgent, short-term protective action for the benefit of vulnerable consumers.
Finally, FAIR Canada is also busy in partnership with Osgoode Hall Law School (funded by the Law Foundation of Ontario Access to Justice Fund) in setting up Canada's first Investor Protection Clinic. The Investor Protection Clinic is scheduled to open in September.