FAIR Canada provided comments on the proposed amendments to MFDA Rule 1.2.5 (Misleading Business Titles Prohibited). The MFDA's minimum proficiency requirements for Approved Persons seeking to use the title "financial planner" is a positive step in furtherance of investor protection, however, on its own, is not enough. FAIR Canada strongly believes that what is urgently needed is a comprehensive and coordinated solution that focuses on consumers' needs and their capabilities. This includes a statutory best interest standard and the removal of conflicted compensation, including trailing commissions. By doing so, Approved Persons who hold themselves out to be "advisors" or "financial planners" will actually have a statutory obligation to act in their client's best interest.  Click here to read the full submission.

FAIR Canada is opposed to regulatory changes which grant retail investors easy access to alternative funds which are traditionally complex, illiquid and higher risk. In the absence of a best interest standard, which would ensure that such funds could only be sold to investors if that sale was in the investor's best interest, FAIR Canada does not support any measures permitting the sale of these funds to retail investors. Moreover, FAIR Canada calls on the CSA to present public research demonstrating why retail investors would benefit from being granted access to alternative funds. FAIR Canada also believes it is imperative that registrants receive specific training in alternative funds in order to ensure the registrants understand the structure, features and risks of alternatives before they can recommend the fund to a retail investor.  To read FAIR Canada's comment letter, click  here.

The Canadian Foundation for the Advancement of Investor Rights (FAIR Canada) is a non-profit organization that acts as a national voice for consumers and retail investors in securities regulation. For more information about FAIR Canada, please visit our website at www.faircanada.ca.

We currently have an opening in Toronto to fill a multi-faceted role, acting as our Legal Counsel and Corporate Secretary and as Policy Analyst. The successful candidate will be an integral part of a small team working with our board of directors in a collegial and stimulating environment.

Applicants should have a strong understanding of securities regulation with 2 to 4 years of experience in this field. The position also requires exceptional research and analytical skills, strong organizational abilities, and excellent oral and written presentation skills. Fluency in French would be a significant asset.

Interested qualified candidates should email their resumes along with a covering letter and reference contacts to FAIR Canada's Director of Policy and Chief Operating Officer Marian Passmore at marian.passmore@faircanada.ca by February 15, 2017.

We thank all applicants for their expression of interest; however, only those candidates selected for an interview will be contacted.