What next for FAIR Canada?

The prognosis for Canada’s foremost investor advocacy group does not look good – can self-regulators step in to fill the void?

Yan Barcelo 4 February, 2020 | 1:40AM

Gavel

The story so far
At the end of September 2019, investment icon Stephen Jarislowsky resigned from FAIR Canada, the foremost investor advocacy group in the country. Following that, on the 18th of October, FAIR returned $2.4 million to the Jarislowsky Foundation because it was unable to meet a 200% matching condition that accompanied the foundation’s $2 million donation for an Endowment Fund for FAIR Canada in support of its public service mission in 2012.

Jarislowsky’s resignation letter levelled harsh words against regulators and the industry. “It is my view that neither the governments nor the financial services industry take seriously their obligation of investor protection. Industry and government do not want to support a professional organization (FAIR Canada) with such a mandate that has independence.”

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About Author

Yan Barcelo  is a veteran financial and economic journalist with more than 30 years of experience, writing for many publications in Toronto and in Montreal, including CPA MagazineLes Affaires and Commerce.