A group that stands up for the rights of everyday investors is fighting for survival. FAIR Canada needs funding, and it’s asking securities regulators for support.
FAIR is the Canadian Foundation for Advancement of Investor Rights. The group was founded in 2008 to provide an independent voice to protect and advance the rights of individual investors. FAIR has been a strong voice on lots of files that have a direct impact on investors, including reforms that would set better standards for investment advice.
You can read about FAIR’s funding challenges here. Basically, it received a grant of $2-million on the condition that it raise matching funds. FAIR fell short in finding those matching funds and gave back the grant money. Now, it’s asking regulators for financial support.
FAIR deserves that funding. The group has been an articulate, rational counterbalance to Bay Street’s powerful influence over how the investment industry conducts itself. Saying yes to FAIR would be a way for regulators to demonstrate a commitment to acknowledging the needs of investors in setting policy.
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