May 16, 2023

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FAIR Canada supports the Canadian Investment Regulatory Organization’s (CIRO) proposal to compensate investors who suffered a loss due to an advisor’s misconduct. The proposal will promote public confidence and trust that the regulatory system is working for investors. However, for the proposal to succeed, the CIRO needs to significantly improve its ability to collect the money from wrongdoers. And while the proposal will help, requiring CIRO members to comply with decisions rendered by the Ombudsman for Banking Services and Investments to compensate harmed investors would, in our view, represent a much more meaningful step forward. To learn more, read our commentary:
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